In another major hacking incident, the cross-chain lending protocol Radiant Capital lost a total of 1,900 ETH from the platform worth a staggering $4.5 million. Blockchain security and analytics firm Peckshield was the first to report about it.
PeckShield, a blockchain security and data analytics firm, reported a recent hacking incident on RDNT Capital resulting in a loss of 1.9k ETH, approximately $4.5 million. The attack exploited a time window during the activation of a new market in a lending platform (forked from popular platforms Compound/Aave).
The exploit also took advantage of a known rounding issue in the current Compound/Aave codebase. The actor behind the incident, identified as https://arbiscan.io/address/0x826d5f4d8084980366f975e10db6c4cf1f9dde6d, executed the exploit just 6 seconds after the activation of the new USDC market.
PeckShield suggests a simple solution to prevent such exploits: ensuring that when a new market is added, it is activated with a CF (Collateral Factor) of 0%.