Radiant Capital Halts Lending Markets After $50 Million Cybersecurity Breach

According to Cointelegraph, Radiant Capital has suspended its lending markets following a significant cybersecurity breach that resulted in losses exceeding $50 million on the BNB Chain and Arbitrum. The breach was confirmed by Radiant and two cybersecurity firms, De.Fi Antivirus and Ancilia Inc.
De.Fi Antivirus reported that the exploit targeted Radiant Capital contracts on the BSC and ARB chains using the 'transferFrom' function, which allowed the attacker to drain users' funds, including USDC, WBNB, and ETH. The firm estimated the losses at approximately $58 million, while Ancilia Inc. provided a similar estimate of around $50 million.