Radiant Capital (RDNT), a decentralized finance lending protocol, announced Monday it is shutting down, nearly two years after hackers drained $50 million from the platform in a sophisticated malware attack.
The protocol, which operated cross-chain lending across multiple networks, was compromised in October 2024 when attackers used a “highly advanced malware injection” to breach multiple developers’ hardware wallets.
The front-end of Safe {Wallet} displayed legitimate transaction data while poisoned transactions were executed in the background, with the breach occurring during a routine multi-signature emissions adjustment process.
According to Radiant Capital’s post-mortem:
“The devices were compromised in such a way that the front-end of Safe {Wallet} (f.k.a. Gnosis Safe) displayed legitimate transaction data while poisoned transactions were signed and executed in the background. This breach occurred during a routine multi-signature emissions adjustment process, which takes place periodically to adapt to market conditions and utilization rates.”
Radiant worked with US law enforcement
Continue reading
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!