Key Points:
Read more: Radiant Capital Review: Top 1 Lending Platform Of Arbitrum
Following reports, the Radiant DAO committee, consisting of developers and the wider Web 3 security community, has taken swift action by temporarily suspending the lending market on Arbitrum. Although no funds are currently at risk, the committee has initiated a thorough investigation to identify and address the concerns.
PeckShield monitoring revealed that the Radiant Capital attack resulted in a loss of 1,900 ETH, equivalent to approximately $4.5 million. The exploit capitalized on a time window within the lending market, akin to mechanisms found in popular platforms like Compound and Aave. The vulnerability, rooted in a known rounding issue in the current Compound/Aave code base, allowed attackers to activate a new market just 6 seconds after its deployment.
In a noteworthy move, the Radiant Capital contract deployer left a message on the blockchain addressing the attacker. The message conveyed a willingness to establish contact and engage in discussions about the exploited vulnerability.
The deployer speculated that the Radiant Capital attack might have been carried out by a white hat or gray hat for various reasons, expressing a desire to collaborate for future steps. The communication channel was established at RadiantBugNegotiation@radiant.capital.
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