Radiant Capital stated on social media that it has successfully repaid the initial bad debt of 1,190 ETH according to RFP-27, leaving about 720 ETH remaining. According to the provisions of RFP-27, the remaining bad debt will be repaid within about 90 days using OpEX funds. If the liquid funds can be obtained faster, DAO reserve funds can also be used.

According to CertiK monitoring, the attacker of the multi-chain lending protocol Radiant Capital has once again transferred 470.3 Ethereum (approximately $1.2 million) to Tornado Cash.

According to on-chain analyst @ai_9684xtpa, the smart money address that accumulated 1593 WBTC in the past nine months has sold 579 WBTC in the past month, earning $4.56 million, with the remaining portion floating at a profit of $9.06 million. 10 hours ago, the address withdrew 279.85 WBTC (worth $12.98 million) from the lending protocol Radiant Capital and deposited it into Binance, earning $2.62 million.

Radiant Capital initiated the RFP-27 proposal, seeking consensus from Radiant DAO stakeholders on the strategy and timeline for capital restructuring and repayment of excess debt in the WETH market after the January 2nd vulnerability in the Arbitrum lending market. The options are as follows:

On Jan-03–2024 UTC+8:00, the Radiant protocol on Arbitrum was under the flashloan attack. The hacker attacked the #Radiant protocol 3 times, resulting in a total loss of 1.9K $ETH(worth $4.5m). The root cause is the mathematical rounding issue in the `burn` function that is amplified and used, on a new $USDC market, which makes the hacker withdraw an extra $USDC. MetaTrust Labs conducted in-depth research and analysis on the exploit, revealing how the hacker exploits vulnerability.

According to PShield monitoring, Radiant Capital, a multi-chain lending agreement, suffered a loss of 1,900 ETH (4.5 million US dollars) due to a hacker attack. The hacker basically took advantage of a time window when a new market in the lending market (derived from Compound/Aave) was activated. This vulnerability also depends on the rounding issue known in the current Compound/Aave codebase. Earlier today, Radiant Capital officials posted on X platform that the newly created native USDC market on Arbitrum had issues. After verification by Radiant developers and the wider Web3 security community, Radiant DAO has suspended the lending market on Arbitrum and is further investigating the issue. Currently, there is no risk to any funds.

According to a post by Radiant Capital on X, there have been reports of issues with the newly created native USDC market on Arbitrum. After verification by Radiant developers and the wider Web 3 security community, the Radiant DAO committee has temporarily suspended the lending market on Arbitrum.No action can be taken until the market on Arbitrum is released from suspension. Once the issue is fully resolved, a detailed post-mortem analysis will be released and the Arbitrum protocol will resume normal operation.

Radiant Capital, a multi-chain lending protocol, initiated a community proposal to vote on using native USDC as collateral. The voting will continue until 8:00 PM Eastern Time on December 24th, 2023.