Decentralized finance (DeFi) platform Radiant Capital (RDNT) is working with US law enforcement to freeze stolen assets after suffering a $50 million hack earlier this week.
Hackers hijacked several developers’ hardware wallets “through highly advanced malware injection,” according to an autopsy published by Radiant.
“The devices were compromised in such a way that the front-end of Safe {Wallet} (formerly Gnosis Safe) displayed legitimate transaction data while the poisoned transactions were signed and executed in the background. This violation occurred during a routine multi-signature emissions adjustment process, which occurs periodically to adapt to market conditions and usage rates.
Radiant says it has implemented stricter multisig controls and is working with US law enforcement and web3 security firm zeroShadow to freeze stolen assets.
The DeFi platform also claims that the level of sophistication of the attack is concerning.
“The compromised devices showed no obvious warning signs beyond minor glitches and error messages during the signing process – issues commonly encountered when interacting with hardware and Safe wallets. These seemingly common error messages were the only indicators of a more serious problem that, under normal circumstances, would not have caused immediate concern.
Radiant’s native token, RDNT, is trading at $0.061 at the time of writing. The crypto asset ranked 581st by market capitalization is down over 2% over the past 24 hours and over 13% over the past week.
Don’t miss a thing – Subscribe to receive email alerts straight to your inbox
Check Price Action
Follow us on XFacebook and Telegram
Surf the daily Hodl mix
& nbsp
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: halfway
