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Radiant Capital hacker compromised developers’ devices — post-mortem 

Attackers of Radiant Capital compromised the devices of at least three core developers through a malware injection, the company confirmed.  

Radiant Capital has disclosed a post-mortem for the Oct. 16 attack that resulted in the theft of over $50 million in digital assets from the BNB Chain and Arbitrum networks. According to Radiant, the attacker compromised the devices of three of its long-standing developers. 

Hackers were able to compromise the devices through a “sophisticated malware injection” used to sign malicious transactions. 

“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 malicious transactions were signed and executed in the background,” the Radiant team explained in a blog post. 

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DeFi Altcoin Jumps As Binance’s Venture Capital Arm Invests $10,000,000 in the Crypto Project

DeFi Altcoin Jumps As Binance’s Venture Capital Arm Invests ,000,000 in the Crypto Project

A decentralized finance (DeFi) altcoin is surging after the venture capital arm of the world’s biggest crypto exchange by volume invested millions of dollars into it. In a new company blog post, Binance says that Binance Labs has invested $10 million into Radiant Capital (RDNT), a cross-chain lending and borrowing crypto protocol built on top […]

The post DeFi Altcoin Jumps As Binance’s Venture Capital Arm Invests $10,000,000 in the Crypto Project appeared first on The Daily Hodl.

SEC gives green light to NYSE and CBOE for spot Bitcoin ETF options trading

Arbitrum price soars after DeFi whale address resumes ARB accumulation

ARB’s price notched a double-digit gain after a popular DeFi whale address resumed buying the governance token, but is the rally sustainable?

On June 2, the price of Arbitrum jumped alongside the top-ranking cryptocurrencies after the United States Senate voted to raise the debt limit.

Why is the ARB price up today?

The price of Arbitrum (ARB) rose 9% to an intraday high of $1.25, beating the crypto market’s total overall gains of 1.5% in the same period.

ARB/USDT vs. total daily price chart. Source: TradingView

Arbitrum’s outperformance coincided with some strange buying activity associated with popular trader Andrew Kang’s crypto addresses.

Notably, on June 2, the Mechanism Capital co-founder deposited $1 million worth of stablecoins into Arbitrum pools and spent over 20% of it buying RDNT, the native token of decentralized finance lending platform Radiant Capital.

Andrew Kang's crypto activity snapped on June 2. Source: Lookonchain

Later, Kang exchanged his newly bought and existing RDNT reserves for $867,000 worth of ARB. Then, he deposited the proceeds to Radiant Capital to borrow Circle’s USD Coin (USDC), according to data resource Lookonchain.

The platform noted:

"Seems like Andrew Kang is using leverage to go long $ARB on @RDNTCapital. Buy $ARB → Deposit $ARB → Borrow $USDC → Buy $ARB."

Is the ARB rally sustainable?

Lookonchain revealed that an anonymous whale deposited $1.5 million worth of ARB to the OKX exchange, simultaneous to Kang’s abovementioned transfers.

Investors deposit tokens to crypto exchanges typically for selling. That raises ARB’s pullback possibilities in the coming days if its demand drops. Interestingly, the token’s technical setup on the daily chart suggests the same.

Related: Arbitrum-based Jimbos Protocol hacked, losing $7.5M in Ether

Notably, ARB has printed what appears to be a bear flag, confirmed by the price consolidating between two rising, parallel trendlines, after a strong move downward. As a rule, a bear flag resolves after the price breaks below the lower trendline and falls by as much as the previous downtrend’s height.

ARB/USDT daily price chart. Source: TradingView

That puts ARB on the road to $0.95 in June, down circa 20% from current price levels.

Conversely, a decisive breakout above the flag’s upper trendline will likely invalidate the bearish outlook, setting the Arbitrum token on the course toward $1.35, a resistance level from the March to May 2023 session.

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Crypto Exchange Binance Rolls Out New Trading Support for Under-the-Radar Altcoin

Crypto Exchange Binance Rolls Out New Trading Support for Under-the-Radar Altcoin

Top crypto exchange by trading volume Binance has rolled out new trading support for an under-the-radar decentralized finance (DeFi) altcoin. Binance listed Radiant Capital (RDNT) in its “Innovation Zone,” a dedicated trading space for crypto assets that could be more prone to rapid price swings. Radiant says that it “aims to be the first omnichain […]

The post Crypto Exchange Binance Rolls Out New Trading Support for Under-the-Radar Altcoin appeared first on The Daily Hodl.

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