Radiant Capital Hacker Gains 93% Profit from Stolen Ethereum
The hacker behind the Radiant Capital breach has turned stolen funds into significant profits. Key points include:
- The hacker stole $53 million in October 2024, converting it to 21,957 ETH.
- Current valuation of these holdings stands at approximately $103.5 million due to a price increase of ETH, which rose from $2,500 to $4,715.78.
- The hacker's profit amounts to $49.5 million, reflecting a 93.5% increase.
- Recently, the hacker sold 9,631 ETH for about $43.94 million, retaining 12,326 ETH valued at $58.1 million.
Background of the Attack
- The attack exploited Radiant Capital’s ‘transferFrom’ function, leading to unauthorized withdrawals from developers' wallets.
- Radiant Capital reported the incident to the FBI and engaged security firms for asset recovery.