# Radiant Capital Exploited for $51 Million

*Author: David Christopher*
*Published: Oct 16, 2024*
*Source: https://www.bankless.com/radiant-capital-exploited-for-51m-on-arbitrum-and-bsc-2*

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Omnichain money market, Radiant Capital, experienced a significant security breach, resulting in a $51M loss across its Arbitrum and BNB Chain deployments. 

## What's the scoop?
- **Multichain Exploit**: The attack started on Radiant’s Arbitrum instance before spreading to its BNB Chain contracts.
- **Wallet Details**: [The exploiter’s wallet](https://www.theblock.co/post/321606/radiant-capital-appears-to-suffer-51-million-exploit-on-its-bnb-chain-and-arbitrum-instances) currently holds over $32M in Arbitrum assets and around $18M in BNB Chain tokens.
- **Security Flaw**: The vulnerability emerged due to a newly deployed smart contract, which allowed unauthorized token transfers.
- **User Advisory**: Radiant users are urged to revoke permissions to Radiant contracts immediately to prevent further losses.

## Bankless Take: 
This isn’t Radiant Capital’s first exploit, coming after a previous flash loan incident and raising concerns about Radiant’s internal security measures since its multi-sig setup seems to have been compromised — meaning the hacker either phished an employee or there was an inside attacker. While efforts will likely be made to recover lost funds, this will be a tough, uphill climb for Radiant to regain trust, if it can at all.

> We are aware of an issue with the Radiant Lending markets on Binance Chain and Arbitrum. We are working with SEAL911, Hypernative, ZeroShadow & Chainalysis and will provide an update as soon as possible. Markets on Base and Mainnet are paused until further notice.— Radiant Capital (@RDNTCapital) [October 16, 2024](https://twitter.com/RDNTCapital/status/1846634050100039881?ref_src=twsrc%5Etfw)