Radiant Capital, a lending platform in the decentralized finance space, announced it will be closing down. This comes almost two years after a complex hacking attack stole $50 million from the platform.
In October 2024, a lending platform that worked across different blockchain networks was hacked. Attackers used sophisticated malware to gain access to the digital wallets of several developers, allowing them to steal funds.
Safe Wallet appeared to show correct transaction information to users, but harmful transactions were secretly happening behind the scenes. This occurred during a standard process for adjusting how the wallet distributes funds.
According to Radiant Capital’s post-mortem:
Hackers managed to manipulate Safe {Wallet} (formerly Gnosis Safe) so that while the app *looked* correct and showed accurate transaction details, it was secretly signing and carrying out unauthorized transactions behind the scenes. This happened during a standard process of adjusting how the wallet operates, which is done regularly to respond to changes in the market and how often the wallet is used.
Radiant collaborated with US law enforcement and the web3 security company zeroShadow to try and stop the hacker from accessing the stolen funds, but they had limited success. According to data from Lookonchain, the hacker turned the stolen money into about 21,957 Ethereum (ETH) and started selling it in August 2025. They averaged $4,562 per Ethereum coin, resulting in a 93.5% profit.
The native RDNT token was trading at $0.022 as of August 2025.
Read More
- Netflix’s Little House On The Prairie Reboot: Release Date, Cast & Everything We Know
- Off Campus Season 1 Soundtrack Guide
- YouTuber arrested after viral AI bodycam videos spark real police complaints
- Silver Rate Forecast
- Prime Video’s New R-Rated Spy Thriller Is Officially No.1 On Streaming Despite Poor Reviews
- Brent Oil Forecast
- Peaky Blinders: The Immortal Man’s Tommy Shelby Is a Better Father Than Michael Corleone
- EUR ZAR PREDICTION
- Gold Rate Forecast
- Bulgakov’s Take: Koreans Bet the Farm on Chips, Crypto, and Chaos
2026-06-02 15:02