Recent events surrounding Radiant Capital highlight the threat to DeFi protocol security. The organization's hacker repurchased a substantial amount of Ethereum, drawing attention to vulnerabilities in the sector.
Background of the Hacker Attack
In October 2024, the AppleJeus group compromised Radiant Capital’s multisig wallet using macOS malware. This led to the siphoning of tokens from pools on the Arbitrum and BNB Chain.
Market Impact
Recent repurchases by Radiant Capital's hacker using 18.64 million DAI during Ethereum price volatility raised the value of their holdings. The hacker now holds 14,436 ETH, with their portfolio swelling by over $41M since the original exploit.
Expert Analysis
Analyst Ember (@EmberCN) reported that Radiant Capital's hacker capitalized on Ethereum’s pullback, enhancing their portfolio value significantly. Despite the magnitude of the breach, Radiant Capital has not issued public statements addressing the issue.
These events underscore the need for heightened vigilance regarding security in DeFi. The threat from hackers requires attention from both the industry and regulators, potentially leading to shifts in cryptocurrency security policies.
