The hacker behind the Radiant Capital exploit has returned to the spotlight with another bold move. On-chain data from Lookonchain shows the address spent $8.64 million in DAI to buy 2,109 ETH at $4,096 each. The transaction comes as Ethereum faced a market dip. That suggests the attacker remains confident in the token’s long-term strength. Analysts note that such high-profile trades continue to attract attention across the crypto community. This often sparks debates on security and accountability in DeFi.
From Stolen Funds to Massive Profit
The attacker has steadily built profits since first targeting Radiant Capital. Around ten months ago, they stole $53 million and swapped the entire amount for 21,957 ETH. Since then, the address has engaged in strategic selling and buying to maximize gains. Recently, they sold 9,631 ETH for $43.9 million at an average price of $4,562, leaving 12,326 ETH still in their wallet.
That stash is currently worth $58.6 million. Altogether, the stolen funds have now grown to $102.5 million, representing a 93.5% increase. The scale of profit highlights how vulnerable projects remain exposed once exploits occur. Unlike traditional finance, where stolen assets can be frozen, DeFi hacks often lead to funds staying active in markets for years.
Radiant Capital’s Ongoing Struggles
The story of Radiant Capital has been shaped by its January 2024 exploit. When $4.5 million was drained due to flaws in its smart contract code. The vulnerability stemmed from errors in the way the system calculated token quantities, particularly involving rounding issues. While the protocol has continued to operate, the damage to its reputation has been significant.
As a cross-chain lending platform built on Arbitrum, Radiant Capital had aimed to unify fragmented liquidity across networks. Instead, it became another case study in the risks of decentralized finance. Security experts argue that the project’s troubles underline a wider issue in the industry. Rapid innovation often outpaces security testing, leaving protocols exposed to sophisticated attackers.
A Warning for the DeFi Sector
The hacker’s latest purchase serves as a reminder of the enduring impact of DeFi exploits. Funds from past hacks not only survive but also grow, reinforcing the challenges regulators and developers face in protecting investors. For Radiant Capital, the incident continues to overshadow its progress. For the wider DeFi community, it stands as another warning that even promising projects remain one exploit away from collapse.
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