Radiant Capital Details
Industry
Security Incidents
1
Radiant Capital is a decentralized finance (DeFi) platform focused on providing lending and borrowing services to its users. The primary function of Radiant Capital is to enable users to lend and borrow cryptocurrency assets directly through its platform without the need for intermediaries such as banks. By leveraging blockchain technology, the platform seeks to offer more efficient, secure, and transparent financial services, which aligns with the broader objectives of the DeFi movement.
Founded in 2022, Radiant Capital has quickly gained traction in the DeFi space by offering innovative sol...
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Security Incidents
Radiant Capital Breach of Oct 2024
Investigations indicated that the hacker accessed multiple private keys, potentially through phishing or malware attac...
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Though there was no explicit mention of customer data such as names or contact details being exposed, the incident highly impacted the financial assets and trust of users on the platform. Radiant's platforms on Binance Chain an...
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Severity Score
Significant to High
Type
3rd Party CompromiseSummary
On October 17, 2024, Radiant Capital, a blockchain lending platform, experienced a significant security breach leading to the loss of approximately $58 million in user assets. The attack stemmed from a private key compromise that allowed a malicious actor to gain control of the platform's multi-signature wallets, thus enabling unauthorized transactions. This marked the second such incident for Radiant Capital in the same year, with a previous attack occurring in January 2024.Investigations indicated that the hacker accessed multiple private keys, potentially through phishing or malware attac...
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Severity
The recent breach on Radiant Capital is notably severe, marking the second such incident for the platform this year with a significant financial loss of $58 million in user assets due to a private key compromise. The attack leveraged multiple private key access, enabling the malicious actor to control multi-signature wallets and alter smart contracts, indicative of a sophisticated breach potentially involving phishing or malware. The incident underscores the critical importance of robust access control measures and showcases ongoing vulnerabilities in decentralized finance (DeFi) platforms, im...Show more
Impact
The incident with Radiant Capital is primarily a cyber-theft stemming from a private key compromise, resulting in the significant loss of approximately $58 million in user assets. This breach indicates that the malicious actor managed to access multiple private keys, allowing them control over multi-signature wallets and the ability to drain funds from these accounts.Though there was no explicit mention of customer data such as names or contact details being exposed, the incident highly impacted the financial assets and trust of users on the platform. Radiant's platforms on Binance Chain an...
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