Hacking incidents in the cryptocurrency industry are endless. At this point, the latest news came from cross-chain lending protocol Radiant Capital.
PeckShieldAlert, who shared on account X, said that Radiant Capital was attacked and 1.9 thousand Ethereum worth approximately $4.5 million was stolen.
Accepting the hack incident, Radiant Capital stated that there was a problem with the newly established local USDC market in Arbitrum (ARB) and made the following statement:
“Today, we received a report of an issue with the newly created native USDC market on Arbitrum.
The Radiant DAO Council has temporarily paused lending/borrowing markets on Arbitrum while the matter is investigated further.
None of the available funds are at risk.
No transactions can be made on Arbitrum until the markets are unpaused.
“Once the issue is fully resolved, a detailed report will be issued and normal operations will be carried out under the Arbitrum protocol once the investigation is completed.”
RDNT, which experienced a retreat of approximately 3% after the hacking incident, later recovered and continues to be traded at $ 0.325 at the time of writing.
Today, we received a report of an issue with the newly created native USDC market on Arbitrum. After validation by Radiant developers and the wider Web 3 security community, the Radiant DAO Council paused lending/borrowing markets on Arbitrum temporarily while this is…
— Radiant Capital (@RDNTCapital) January 3, 2024
*This is not investment advice.
