Radiant Capital Hacker Transfers $52M of Stolen Crypto

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The individual responsible for the recent theft from decentralized finance protocol Radiant Capital has transferred almost all of the stolen funds from layer-2 protocols to Ethereum, potentially in an attempt to conceal them.

According to PeckShield, a blockchain security firm, addresses associated with the hacker have moved the majority of the illicit crypto from the exploit on the Arbitrum and Binance BNB Chain networks to the Ethereum network.

The total amount transferred was approximately 20,500 Ether, equivalent to around $52 million. On October 23, Radiant Capital posted a notice advising users to protect their wallets by revoking authorizations to affected smart contracts.

The protocol, which offers cross-chain DeFi lending, had to shut down its lending markets following a security breach that resulted in over $50 million being stolen on October 16.