Radiant Capital Exploiter: Shocking $13.26M ETH to DAI Conversion Revealed
Main Idea
The Radiant Capital exploiter converted 3,091 ETH into 13.26 million DAI, following a $53 million hack in October 2024, highlighting ongoing DeFi security challenges.
Key Points
1. The Radiant Capital exploiter sold 3,091 ETH for 13.26 million DAI at an approximate rate of $4,291 per ETH.
2. The initial Radiant Capital hack on October 17, 2024, resulted in a $53 million loss.
3. On-chain tracking platforms like Onchain Lens identified and reported the ETH to DAI conversion.
4. Converting volatile assets like ETH into stablecoins like DAI helps exploiters move funds without significant price fluctuations and obscure transaction trails.
5. The incident underscores the importance of continuous improvement in DeFi security measures.
Description
BitcoinWorld Radiant Capital Exploiter: Shocking $13.26M ETH to DAI Conversion Revealed The cryptocurrency world is buzzing with news as the Radiant Capital exploiter recently made a significant move. This development highlights the ongoing challenges within decentralized finance (DeFi) security. Investors and enthusiasts are closely watching the fallout from the October 2024 hack that targeted Radiant Capital. What Did the Radiant Capital Exploiter Do? In a notable on-chain transaction, the ind...
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