On October 17, 2024, the Radiant Capital platform was attacked, leading to a loss of approximately 53 million USD.
According to data recorded by Onchain Lens, the attacker sold 2,496 ETH at a price of 4,741 USD each, in exchange for DAI worth 11.83 million USD, forming part of this attack.
MAIN CONTENT
Radiant Capital was hacked on October 17, 2024, with damages of 53 million USD.
The attacker sold 2,496 ETH with a total value of approximately 11.83 million USD in DAI.
Event data provided by Onchain Lens demonstrates detailed transactions.
When was the Radiant Capital platform attacked and what were the damages?
Radiant Capital suffered a cyber attack on October 17, 2024, resulting in a loss of up to 53 million USD.
The incident was recorded in detail, posing many challenges regarding cybersecurity for DeFi projects in general. This attack raised alarms about security risks in the DeFi space while negatively impacting investor confidence regarding asset safety in the Blockchain ecosystem.
How did the attacker handle the ETH after the seizure?
According to Onchain Lens, the attacker sold a total of 2,496 ETH, equivalent to 4,741 USD each, in exchange for DAI with a total value of 11.83 million USD.
"The swift conversion of ETH to DAI indicates a sophisticated money laundering scheme aimed at mitigating price volatility risks."
(Blockchain Security Expert, 2024)
Data from Onchain Lens shows that the attacker took advantage of opportunities in the stablecoin market to maintain stable asset value while optimizing withdrawal procedures quickly, limiting on-chain footprints. This action is a common tactic in complex attacks aimed at avoiding detection and freezing assets.
What role does Onchain Lens data play in tracking and analyzing the hack?
Onchain Lens provides detailed on-chain transaction monitoring data, helping analyze the asset movement of the attacker while verifying the actual damage.
This tool is a reliable resource for organizations and investors to capture transparent information, timely updates on cryptocurrency market fluctuations, thereby enhancing vigilance and preparing preventive measures for the future.
What measures can help prevent similar attacks for DeFi projects?
Attack prevention needs to combine multi-layer security, focusing on smart contract audits and continuous on-chain transaction monitoring.
Projects must adopt modern encryption technology, establish early warning systems, and conduct regular audits to detect vulnerabilities. At the same time, collaboration with security experts and regulatory agencies is also key to enhancing reliability and protecting user assets.
What should investors be aware of when trading on DeFi platforms?
Investors must thoroughly assess the security and reputation of the platform before depositing assets, while remaining vigilant for unusual signs in the market.
Using cold wallets to store assets and risk allocation is a popular strategy to limit losses when incidents occur, enhancing safety in cryptocurrency transactions.
Frequently Asked Questions
How much money did the Radiant Capital platform lose in the hack?
Radiant Capital lost approximately 53 million USD due to the cyber attack on October 17, 2024.
How much ETH did the attacker sell after the hack?
The attacker sold 2,496 ETH, in exchange for DAI worth 11.83 million USD.
How important is Onchain Lens data in this case?
Onchain Lens provides transparent data on on-chain transactions, helping to accurately analyze and monitor the attack.
What common security risks does DeFi face?
Risks include smart contract vulnerabilities, transaction fraud, and systematic cyber attacks.
What should investors do to protect their assets on DeFi platforms?
Evaluate the platform's security carefully, use cold wallets, and effectively diversify asset risks.
Source: https://tintucbitcoin.com/radiant-capital-bi-hack-mat-2-496-eth/
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