According to Arkham Intelligence, Radiant Capital became a victim of an attack, resulting in a $51.5 million loss. The attack impacted Arbitrum and BSC networks.

Details of the Attack

The attack began on Wednesday on the Ethereum Layer 2 Arbitrum blockchain before moving to the BNB Chain. Ancilia Inc. confirmed in a post on the X platform that attackers exploited vulnerabilities in contract 0xd50cf00b6e600dd036ba8ef475677d816d6c4281.

Security Measures

Ancilia Inc. urged users to revoke approvals for all Radiant contract addresses to prevent further losses. Tony Ke of Fuzzland noted that while the Ethereum and Base networks appear secure, caution is advised when interacting with contracts.

Increase in Crypto Scams

Ancilia also reported that a backdoor contract was deployed at 17:09 UTC on Wednesday, allowing attackers unauthorized access. Recent months have seen a rise in crypto asset scams. Authorities and companies are working together to combat this issue.

The Radiant Capital attack highlights the seriousness of threats in the crypto industry. Users should exercise extreme caution and follow security experts' recommendations.