According to PANews, the Radiant DAO community has proposed a plan to compensate victims of the 'unlimited authorization vulnerability' through a smart contract. This initiative aims to address losses incurred by users due to a vulnerability discovered on October 16, 2024, affecting Arbitrum and BNB Chain, with damages amounting to $7.7 million in 2024 and $1.2 million in the first quarter of 2025.
The core of the proposal involves deploying a claims contract on Arbitrum to allocate funds proportionally based on user losses. All stolen tokens will be consolidated into a single stablecoin at market value, with balances below $1 being nullified. The compensation process will be phased and is expected to take several years, during which users can track progress through a dedicated portal.
Priority will be given to users affected by the RFP-47 proposal, with any remaining funds allocated to victims of the current proposal. In the event that stolen funds are recovered, they will be distributed proportionally among all affected users. However, the execution of the compensation plan is contingent upon partner contributions, and failure to secure these funds may impede the process.
