Radiant Capital Exploit: Shocking $11.83M Stolen ETH Sale Rocks DeFi

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.