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The $50 million hack sent shockwaves across the defi community with funds authorized to different projects completely drained.

On October 16, 2024, Radiant Capital, a decentralized cross-chain lending protocol built on LayerZero, was the victim of a highly sophisticated cyberattack that resulted in a staggering $50 million loss.

Cross-chain DeFi protocol Radiant Capital saw its TVL drop drastically after two exploits in 2024.

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The firm believes when a developer was contacted by a “trusted former contractor” in early September, it was really a DPRK actor in disguise.

Hackers gained access to a developer's computer by posing as a former contractor.

A new postmortem report from Radiant Capital claims a North Korean state-backed hacker was behind the $50 million exploit of the protocol.

Radiant Capital has revealed that the hack that drained $50 million from its DeFi platform was orchestrated by a hacker tied to North Korea. The post Radiant Capital Discloses $50M DeFi Hack Linked to North Korea-Aligned Hacker appeared first on Cryptonews.

A North Korean threat actor was behind the $50 million attack on Radiant Capital in October and spoofed being an ex-contractor, the DeFi platform said.

Leading crypto exchange Binance issued a crucial update on crypto Notcoin (NOT), Radiant Capital (RDNT), KAIA, and Aerodrome Finance (AERO) on Wednesday. Notably, the digital asset trading platform revealed that it is delisting certain pairs for two of the mentioned assets while expanding support for the other two.

The world's largest crypto exchange, Binance has announced the removal of two major NOT/BNB and RDNT/BTC spot trading pairs from its exchange. This decision comes after Binance's regular review process, which evaluates factors like dropping liquidity and trading volume issues. If you're currently holding positions in these pairs, here's everything you need to know about.

South Korea's Digital Asset Exchange Association (DAXA) to halt trading support for Radiant Capital (RDNT) over security concerns. This decision follows the project's failure to provide necessary explanations regarding a recent security breach.

Radiant Capital said it had resumed its Ethereum lending markets after implementing several security enhancements to its protocol.

October marked a significant decline in crypto-related losses due to exploits, with total losses amounting to approximately $116 million—the lowest monthly losses in the last six months. Most of October's losses stemmed from exploits, followed by flash loan attacks and exit scams.

The strategy resembles tactics seen in past crypto heists, casting doubt on recovery as the funds could soon be laundered through mixers.

The exploiter's latest movements threaten to permanently vanish the stolen funds into the crypto underworld.

On Oct. 24, blockchain security firm PeckShield reported that the Radiant Capital hacker had transferred nearly all of the stolen funds from Arbitrum and Binance's BNB Chain into the Ethereum network. The funds, valued at approximately $52 million, totaled 20,500 Ether. This development follows the Oct.

The exploiter has moved around 20,500 Ether (ETH), worth approximately $52 million so far.

Blockchain forensic firm PeckShield discovered wallets belonging to Radiant Capital's exploiter transferred $52 million funds into the Ethereum network. In an Oct.

Nearly all of the stolen loot from Radiant Capital has now been moved to the Ethereum network, which usually isn't a good sign for those hoping for recovery.

The decentralized finance (DeFi) platform Radiant Capital (RDNT) is working with US law enforcement to freeze stolen assets after suffering a $50 million hack earlier this week. Hackers cracked multiple developers' hardware wallets “through a highly advanced malware injection,” according to a post-mortem published by Radiant.

Crypto security this week has been the definition of chaos as some of the industry's leading players have been hit by major hacks. Radiant Capital which has previously been attacked by hackers has been hit again with this second break resulting in the company losing $50 million.

The FBI is involved in helping Radiant track $50M stolen in a sophisticated multi-signature wallet breach.

The DeFi project claimed that hackers compromised the hardware wallets of its long-term developers and injected malware.