The address of the Radiant Capital hacker exchanged over 3,000 ETH for 13.26 million USD DAI and transferred the stolen funds to a new wallet.
The withdrawal and token conversion activities occurred following the attack on Radiant Capital on October 17, 2024, causing damage of up to 53 million USD.
MAIN CONTENT
The Radiant Capital attack occurred on October 17, 2024, with losses amounting to 53 million USD.
The hacker exchanged 3,091 ETH for 13.26 million USD stablecoin DAI.
The stolen funds have been transferred to a new wallet to avoid tracing.
When did the Radiant Capital attack occur and what damages did it cause?
Radiant Capital was attacked on October 17, 2024, resulting in a loss of 53 million USD, according to verified reports from On-chain monitoring tools.
This incident is one of the most serious attacks of 2024, greatly affecting liquidity and user trust in the platform.
Data from blockchain security analytics systems indicate that the hacker exploited serious vulnerabilities to seize a significant amount of assets in Radiant Capital's wallet.
How did the hacker handle the volume of stolen assets?
On-chain data analysis shows that the hacker converted 3,091 ETH into 13.26 million USD stablecoin DAI to increase liquidity and facilitate subsequent transactions.
This conversion helps hackers prevent the depreciation of ETH while facilitating asset dispersion and evading tracing.
Subsequently, the entire amount of DAI was transferred to a new wallet address in the format 0xA4F2…eB51 to enhance anonymity and protect assets from being frozen.
The conversion and movement of assets immediately after the attack indicate that hackers were well-prepared to minimize the risk of asset seizure.
PeckShieldAlert, report dated August 12, 2024
What does it mean for a hacker to transfer money to a new wallet in terms of cryptocurrency security?
Transferring assets to a new wallet helps hackers minimize the risk of being traced on the public Blockchain, as each new address is equivalent to creating a layer of anonymous protection.
In the cryptocurrency industry, this technique is referred to as 'churning', aimed at obscuring the flow of funds to avoid intervention from legal authorities or monitoring parties.
This process also complicates the efforts of security organizations to quickly freeze assets or recover funds.
Frequently Asked Questions
How much money did Radiant Capital lose in the attack?
What assets did the hacker exchange after the theft?
The hacker converted 3,091 ETH into 13.26 million USD stablecoin DAI and then transferred it to a new wallet.
What is the identification code of the hacker's new wallet?
The new wallet address receiving the funds is 0xA4F2…eB51 according to On-chain data.
What is the reason the hacker transferred funds to a new wallet?
Transferring to a new wallet for anonymity and to avoid being traced on the public Blockchain network.
Is there any way to recover the stolen assets from the hack?
Legal and technical measures are still being considered by experts based on On-chain data analysis.
Source: https://tintucbitcoin.com/hacker-radiant-capital-doi-3-091-eth/
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