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

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