Radiant Capital, a cross-chain lending protocol, has suffered its second major exploit in 2024, losing over $50 million due to a cyberattack. The attack involved hackers obtaining three of 11 private keys controlling Radiant’s smart contracts, leading to the draining of funds across Binance Smart Chain (BSC) and Arbitrum. The protocol has halted operations on Base and Mainnet as security teams work on mitigation and investigation efforts.
| Exploit Loss | Radiant Capital lost over $50 million in a cyberattack on Oct. 16, 2024. |
| Cause | Hackers obtained 3 out of 11 private keys controlling the protocol’s contracts. |
| Funds Affected | Attackers drained users’ funds in assets like USDC, WBNB, ETH. |
| Chains Impacted | Binance Smart Chain (BSC) and Arbitrum were exploited. |
| Response | Radiant paused lending markets on Base and Mainnet; working with security firms like Chainalysis and De.Fi. |
| Second Attack in 2024 | Radiant previously lost $4.5 million in January from a smart contract bug. |