A significant security breach has occurred at Radiant Capital, resulting in the theft of approximately $51.5 million from user accounts across the Arbitrum and BNB Chain networks. The attack, which began on Wednesday afternoon, involved the exploitation of a specific contract that allowed unauthorized transfers of funds.
Security experts have advised users to revoke any approval permissions for Radiant contracts to protect their assets. Investigations suggest that the hack may have resulted from an internal vulnerability, potentially due to phishing or compromised computers.
The stolen funds have been transferred to a single wallet, primarily in the form of wrapped BNB, ETH, USDC, and USDT. As of now, the hacker’s wallet holds over $32 million in Arbitrum-based assets and around $18 million in tokens on the BNB Chain.