Radiant Capital Exploit: Shocking $11.83M Stolen ETH Sale Rocks DeFi
Main Idea
A hacker exploited Radiant Capital, stealing $53 million in cryptocurrencies and later selling 2,496 ETH for $11.83 million in DAI, highlighting vulnerabilities in DeFi security and the need for stronger safeguards.
Key Points
1. The attacker converted 2,496 ETH into $11.83 million in DAI at a rate of approximately $4,741 per ETH.
2. The exploit involved a flash loan attack that manipulated the price oracle, exploiting vulnerabilities in smart contract logic or external data feeds.
3. On-chain intelligence suggests the hacker may be linked to a North Korea-affiliated cybercrime group known for targeting cryptocurrency platforms.
4. The incident underscores the importance of robust blockchain security measures to prevent similar exploits in the future.
5. Users are advised to interact only with well-audited DeFi protocols and employ strong security practices to protect their digital assets.
Description
BitcoinWorld Radiant Capital Exploit: Shocking $11.83M Stolen ETH Sale Rocks DeFi The cryptocurrency world recently witnessed a significant event: a hacker behind the massive Radiant Capital exploit moved a substantial amount of stolen ETH . This bold move, involving the sale of 2,496 ETH for a staggering $11.83 million in DAI, has sent ripples through the DeFi landscape. It highlights ongoing challenges in blockchain security and raises urgent questions about safeguarding digital assets. This d...
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