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Radiant Capital, a cross-chain lending protocol, has embarked on a path to recover from a recent flash loan exploit that resulted in a substantial loss of $4.5 million.
Radiant Capital has initiated its debt repayment process following a financial setback due to a flash loan exploit. The cross-chain lending protocol, caught in a turbulent cyberattack earlier this month, witnessed a loss of $4.5 million.
Radiant Capital announced on Tuesday that it has completed an “initial bad debt repayment” of 1,190 Ethereum (ETH) following the January 2 flash loan exploit that saw the cross-chain lending protocol drained of over $4.5 million.
The cross-chain lending protocol expects to fully clear its bad debt within 90 days.
Radiant Capital, a decentralized finance (defi) platform, confirmed on Jan. 3, 2023, that it fell victim to an attack which saw the “protocol accruing bad debt in the WETH market, totaling about 1.3% of total protocol TVL” or $4.5 million.
Radiant Capital was hit by a $4.5M flash loan attack due to a known codebase rounding issue, leading to a temporary pause in their Arbitrum market operations.
Cross-chain lending protocol Radiant Capital (RDNT) fell victim to a hack on Tuesday, resulting in the theft of 1,900 ETH, worth approximately $4.5 million.
The protocol has acknowledged that the incident is attributed to an "issue with the newly established native USDC market on Arbitrum."
The world of decentralized finance (DeFi) has witnessed another shocking incident, following an attack on Radiant Capital recently. This time, cross-chain lending protocol Radiant Capital found itself in the eye of the storm following a flash loan attack that resulted in a significant loss of $4.5 million.
Radiant Capital protocol fell victim to a flash loan attack that drained ETH worth millions in six seconds.
In a recent high-profile security incident, Radiant Capital, a prominent cross-chain lending protocol, has temporarily suspended its lending and borrowing markets on the Arbitrum network. This move comes in the wake of a sophisticated $4.5 million exploit (equivalent to 2337 ETH) targeting its newly launched USDC Coin (USDC) markets.
Cross-chain lending protocol Radiant Capital (RDNT) lost 1,900 ETH to a decentralized finance (DeFi) exploit that attacked a new lending market for the USDC stablecoin. The attacker targeted the Ethereum layer-two solution Arbitrum protocol on January 2, 2024.
Cross-chain lending protocol Radiant Capital has become the latest DeFi protocol to fall victim to a hack after hackers stole 1900 ETH worth $4.5 million from the platform.
Decentralized finance (DeFi) lending protocol Radiant Capital temporarily paused its operations on the Ethereum layer2 network Arbitrum after it was exploited for 1,900 ETH, or $4.5 million. In a Jan.
A major player in the crypto and decentralized finance (DeFi) area, Radiant Capital recently ran into problems with its freshly created native USDC market on the Arbitrum network. PeckShield, a blockchain security and analytics company, reports that 1,900 ETH (around $4.5 million) worth of the cross-chain lending protocol Radiant Capital was compromised.
Radiant Capital falls victim to a cyber-attack, exposing vulnerabilities in its security. Here's a look at what happened.
Cross-chain lending protocol Radiant Capital has suspended its lending markets. The report states that Radiant Capital has received reports of a $4.5 million hack that affected one of the new USD Coin (USDC) markets.
The breach occurred within a mere six seconds of the USDC market's activation, PeckShield detailed, citing the vulnerability in the lending market's setup as the root cause. Responding promptly, Radiant Capital took swift action, temporarily halting its lending and borrowing markets on Arbitrum, a Layer-2 scaling solution where the platform operates.
Radiant Capital, a prominent cross-chain lending protocol, has temporarily suspended its lending and borrowing markets on the Arbitrum blockchain due to a substantial security breach. Reports indicate that a flash loan attack resulted in the unauthorized withdrawal of approximately $4.5 million in Ether from one of its newly established USDC Coin (USDC) markets.
Blockchain security firms said the issue was caused by a “known rounding issue” in the codebase.
Cross-chain lending protocol Radiant Capital was hacked for 1,900 ETH, blockchain security firm PeckShield reported on X today.
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Bitcoin's history is filled with stories of people who put small, disposable amounts of money into the crypto and ended up making a fortune. This has been no different from the case of one Norwegian man, whose throwaway $22 Bitcoin investment has turned into a life-changing sum.
On August 21, Spot On Chain monitoring revealed that Mandala Capital executed a significant move within the cryptocurrency space.
