Decentralized finance (DeFi) platform Radiant Capital (RDNT) is working with US law enforcement agencies to freeze stolen assets following a $50 million hack earlier this week.
Hackers have cracked the hardware wallets of multiple developers “through a highly sophisticated malware injection,” according to a post-mortem published by Radiant.
“The devices were compromised such that the front end of Safe {Wallet} (formerly Gnosis Safe) displayed legitimate transaction data while poisoned transactions were signed and executed in the background. This breach occurred during a routine multi-signature emissions adjustment process, which occurs periodically to adjust to market conditions and utilization rates.”
Radiant says it has implemented stricter multisig controls and is working with US law enforcement and Web3 security firm zeroShadow to freeze the stolen assets.
The DeFi platform also says that the level of sophistication of the attack is concerning.
“The compromised devices showed no obvious warning signs, aside from minor glitches and errors during the signing process – issues that are common when interacting with hardware wallets and Safe. These seemingly routine error messages were the only indicators of a deeper problem, which under normal circumstances would not have caused immediate concern.”
Radiant’s native token, RDNT, is trading at $0.061 at the time of writing. The 581st-ranked crypto asset by market cap is down more than 2% in the past 24 hours and more than 13% in the past week.
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Generated image: Midjourney