Radiant Capital experienced a significant loss exceeding $50 million due to a cyberattack on its blockchain contracts on October 16, 2024. The attackers secured access to three of the eleven private keys that control Radiant's multisig wallet, enabling them to exploit vulnerabilities within the protocol's smart contracts on the Binance Smart Chain and Arbitrum chains. This exploit allowed them to drain users' funds, including USDC, WBNB, ETH, and others. Radiant acknowledged the issue and is collaborating with various security firms to investigate while pausing markets on specific chains. This incident marks the second exploit against Radiant Capital this year, following a separate incident in January 2024 due to a bug in its smart contracts. The precise method through which the private keys were compromised remains unclear, with some speculating a potential front-end compromise that could have led legitimate key-holders to interact with a malicious protocol.

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