Radiant Capital Working With US Law Enforcement To Freeze Stolen Crypto Assets After $50,000,000 Hack This Week

The decentralized finance (DeFi) platform Radiant Capital (RDNT) is working with US law enforcement to freeze stolen assets after suffering a $50 million hack earlier this week.

Hackers cracked multiple developers’ hardware wallets “through a highly advanced malware injection,” according to a post-mortem published by Radiant.

“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 says it has implemented stronger multisig controls and is working with US law enforcement and the web3 security firm zeroShadow to freeze the stolen assets.

The DeFi platform also says the attack’s level of sophistication is concerning.

“The compromised devices presented no obvious warning signs beyond minor glitches and error messages during the signing process – issues commonly encountered when interacting with hardware wallets and Safe. These seemingly routine error messages were the only indicators of a deeper issue, which, under normal circumstances, would not have raised immediate concern.”

Radiant’s native token, RDNT, is trading at $0.061 at time of writing. The 581st-ranked crypto asset by market cap is down more than 2% in the past 24 hours and more than 13% in the past week.

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The post Radiant Capital Working With US Law Enforcement To Freeze Stolen Crypto Assets After $50,000,000 Hack This Week appeared first on The Daily Hodl.