The Radiant Hack and Latest Fund Movements
The hacker behind the $51.5 million Radiant Capital hack in 2024 has moved more stolen funds. About 5,933.3 ETH, worth roughly $26.7 million, was transferred to Tornado Cash. The funds came from three different addresses.
Crypto security firm CertiK reported the hacker bridged stolen assets to Ethereum before sending them to the crypto mixer Tornado Cash. CertiK warned users to remain cautious due to the high-profile nature of the hack.
“On Oct 16th, 2024, the exploiter gained access to their multi-sig wallet by compromising 3 of 11 signers and drained approximately $55 million from the lending pools,” CertiK stated.
Details of the Radiant Capital Breach
In October 2024, Radiant Capital suffered a hack that stole $51.5 million from user wallets on Arbitrum and BNB Chain. The attacker used malicious contracts to trick users into granting permissions to a rogue address. This address then drained funds using the transferFrom function.
The stolen assets included wrapped BNB, ETH, USDC, and USDT. Around $32 million was taken from Arbitrum and $18 million from BNB Chain, all held in one wallet.
Hacker’s Recent Activities
- Last month, the hacker reportedly turned $53 million of stolen assets into $102.54 million.
- This profit came from trading ETH, generating about $49.5 million in gains.
