Radiant Capital halts lending after exploit
Approximately $58 million has been lost from a cybersecurity breach at the lending protocol, one expert said.
Radiant Capital halted its lending markets after the cross-chain lending protocol suffered a more than $50 million cybersecurity breach on BNB Chain and Arbitrum, according to Radiant and two cybersecurity experts.
“Radiant Capital contracts were exploited on BSC & ARB chains with the ‘transferFrom’ function, which allowed to drain users’ funds, namely $USDC $WBNB $ETH and others,” Web3 cybersecurity firm De.Fi Antivirus said in an Oct. 16 post on the X platform.
De.Fi said the exploit drained approximately $58 million, mirroring estimates from another cybersecurity firm, Ancilia Inc., which pegged losses at around $50 million, according to another X post.
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Author: Alex O’Donnell
