Blockchain forensic firm PeckShield recently uncovered that wallets linked to the Radiant Capital exploiter have transferred $52 million into the Ethereum network.

In an Oct. 24 post, PeckShield reported that the hacker’s addresses moved “nearly all stolen funds” from the layer 2 network Arbitrum and the Binance BNB Chain into the Ethereum network. According to PeckShield’s data, the hacker managed to secure a total of 20,500 Ether, valued at approximately $52 million.

On Oct. 16, Radiant Capital, a decentralized finance (DeFi) lender, experienced losses exceeding $50 million due to a malware attack. The attackers exploited funds from Radiant Capital’s Arbitrum chain. The post-mortem report revealed that the hackers compromised the hardware wallets of at least three Radiant developers through a sophisticated malware injection, describing it as “one of the most sophisticated hacks ever recorded in DeFi.”

#PeckShieldAlert #RadiantCapital Exploiter-labeled addresses have bridged nearly all stolen funds from #Arbitrum and #BNBChain to #Ethereum, totaling ~20.5K $ETH (worth ~$52M).

In many instances, cybercriminals transfer stolen funds into the Ethereum network, utilizing crypto mixers to obscure the trail, making it challenging to recover the funds. This method mirrors tactics seen in other significant crypto hacks and exploits this year.

On Oct. 23, Radiant Capital advised users to secure their wallets by revoking approvals to affected contracts on revoke.cash. They shared a list of impacted contracts for users to revoke access, emphasizing the urgency with the statement:

“This is not optional—take one minute to protect your assets by visiting revoke.cash and removing any permissions to prevent further losses!”

Additionally, Radiant Capital, built on LayerZero, affirmed its commitment to tracking and freezing the stolen funds by collaborating with security experts and law enforcement.

According to PeckShield, throughout September 2024, the crypto industry faced losses exceeding $120 million due to various hacks. Notable incidents involved platforms such as BingX, Penpie, and Indodax.

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