The hacker behind last year’s Radiant Capital breach has nearly doubled their haul, turning the stolen crypto into a 93.5% profit.
According to blockchain analytics platform Lookonchain, the hacker has turned stolen funds $53 million into a $102.54 million fortune through strategic Ethereum trades. Initially, all stolen assets were swapped for 21,957 ETH shortly after exploiting Radiant’s Arbitrum and BNB Chain platforms in October 2024.
The hacker has been actively moving large amounts of crypto in the past few hours. Various transactions indicate the hacker exchanging ETH and WETH with DAI. A single transaction was exchanging 8.64 million DAI, while a series of small exchanges of 200 WETH each were exchanged for around $950K each.
The Radiant Capital hacker now possesses a huge crypto portfolio worth about $102.54 million. This includes 12,326 ETH valued at around $58.6 million at a price of $4,754 per ETH and 43.94 million DAI, which is approximately $43.94 million.
After profiting from 9,631 ETH, the hacker still keeps a large portion of the stolen funds. This effectively doubles the value of the initial $53 million theft.
Background of the Hack
In October 2024, Radiant Capital was hacked, and scammers pulled off approximately $51.5 million from user wallets. The hack was through a malicious contract that deceived users into providing token permissions, enabling the attacker to drain funds through a TransferFrom function.
The pilfered funds, wrapped BNB, ETH, USDC, and USDT, were all aggregated into one wallet. This wallet had more than $32 million in Arbitrum assets and approximately $18 million on the BNB Chain at the time of the attack, indicating the magnitude of the attack.
Also Read: CrediX Negotiated $4.5 Million in Stolen Crypto After Hack
