Radiant Capital Partners with Law Enforcement After $50 Million Hack

Radiant Capital, a decentralized finance (DeFi) platform, is collaborating with US law enforcement to recover assets following a $50 million theft earlier this week.

The hack involved sophisticated malware that targeted the hardware wallets of several developers.

According to Radiant’s post-mortem analysis, the hackers compromised the devices in such a way that the Safe (Wallet) interface appeared to show legitimate transaction details while simultaneously executing fraudulent transactions in the background. This breach occurred during a routine adjustment of multi-signature emissions meant to align with market dynamics.

In response to the incident, Radiant has bolstered its multi-signature controls and is coordinating with the web3 security firm zeroShadow to secure the stolen funds. The platform expressed concern about the complexity of the attack.

READ MORE:

New Banking Trojan Compromises 13,000 Android Users, Security Experts Warn

Radiant noted that the affected devices showed no clear warning signs, aside from minor glitches and error messages typically seen during hardware wallet interactions. These normal issues masked the underlying problem, which would not have raised alarms under typical circumstances.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.