The cross-chain decentralized lending protocol Radiant Capital was subjected to a hacker attack, resulting in the breach of a new liquidity pool on the Arbitrum platform. The hack led to the theft of 1,900 ETH, equivalent to approximately 4.5 million dollars.

PeckShield, a company specializing in blockchain security, reported that the hackers exploited a known vulnerability that occurs during the launch of liquidity pools. As a result, Radiant Capital temporarily suspended lending operations in the pools on Arbitrum and began an investigation into the incident. The attack itself occurred just 6 seconds after the opening of a new lending market using the USDC stablecoin.

Representatives of PeckShield noted that the cause of the breach is not new: hackers took advantage of the brief window of time that appears when launching a new lending market.

The developers of Radiant confirmed that the incident was related to a problem that arose on the recently launched USDC market based on Arbitrum. They promised to provide a detailed report following the investigation. The team also clarified that the funds of users in other pools are safe and that full operation of the protocol will resume after the investigation is completed.