Radiant

Arbitrum

Radiant Capital

Coin

<ul class="news-points"> 
 <li>Following a $4.5 million flash loan exploit, Radiant executes a strategic repayment plan.</li> 
 <li>Radiant Capital repays 1,190 ETH and aims for full reimbursement in 90 days.</li> 
 <li>$100K bounty is offered in the ongoing exploit investigation.</li> 
</ul> 
Radiant Capital has initiated repaying its debts following the $4.5 million flash loan exploit earlier this month. According to their latest <a href="https://x.com/RDNTCapital/status/1749761868191723598?s=20" target="_blank" rel="nofollow">announcement</a> on January 23, the protocol has successfully repaid 1,190 ETH, which is equivalent to $2.6 million. This move leaves Radiant with approximately 720 ETH ($1.6 million) of remaining bad debt. 
Significantly, Radiant’s repayment strategy aligns with the RFP-27 proposal, <a href="https://dao.radiant.capital/#/proposal/0xf2d9cd62d0d8efd792967e7d4b36cd3b1d08718b75c3916116eeb133c9f80008" target="_blank" rel="nofollow">ratified</a> on January&nbsp; 8. This decision, supported by 73% of user votes, outlines using funds from the Radiant DAO Treasury and operating expenditures to address the bad debt. At the proposal’s passing, the DAO Treasury boasted a balance of $5.2 million, with protocol revenues estimated at around $500,000 monthly.&nbsp; 
Moreover, the exploit targeted Radiant’s USD Coin (USDC) lending pool on the Arbitrum network. PeckShield, a blockchain security and data analytics company, <a href="https://x.com/peckshield/status/1742334242120466580?s=20" target="_blank" rel="nofollow">noted</a>. “The root cause is not new: It exploits a…
The post <a href="https://coinedition.com/radiant-capital-commences-repayment-post-4-5m-exploit/">Radiant Capital Commences Repayment Post $4.5M Exploit</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Radiant Capital Commences Repayment Post $4.5M Exploit

Coin Edition

Các bài viết khác được xuất bản trên 24 thg 1, 2024

THORChain Outlines Ambitious Goals for 2024

BREAKING: SEC Delays BlackRock Spot Ethereum ETF

Bitcoin ETF: Will Coal ETF Debut Damage Bitcoin’s Shine?

REV3AL Announces Liquidity Locker Service Launch and Trust Wallet Listing Amidst Record Token Growth

24 Crypto Update,24 Jan: Will the Market Bleeding Ever Cease

RAY Stays Strong Above $1, Analyst Says Raydium Is ‘Practically the Backbone of Solana Shitcoin S...

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!