The attacker gained control of Radiant Capital's blockchain contracts by obtaining three of the "private keys" that control the protocol, allowing exploitation of the 'transferFrom' function.
Radiant acknowledged the exploit in a post to its official X account, stating, "We are aware of an issue with the Radiant Lending markets on Binance Chain and Arbitrum" and paused markets until further notice.
Some members of an Ethereum security group speculated the attack could've stemmed from a compromised front-end, suggesting legitimate signers may have interacted with a malware-laced protocol.
Radiant Capital lost more than $50 million as a result of an apparent cyberattack that allowed attackers to drain users' funds across multiple cryptocurrencies.
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