Defi Platform Radiant Capital Loses Digital Assets Worth $4.5 Million After Flash Loan Attack

Radiant Capital, a decentralized finance (defi) platform, confirmed on Jan. 3, 2023, that it fell victim to an attack which saw the “protocol accruing bad debt in the WETH market, totaling about 1.3% of total protocol TVL” or $4.5 million.

Timeline of Radiant-capital

The world of decentralized finance (DeFi) has witnessed another shocking incident, following an attack on Radiant Capital recently. This time, cross-chain lending protocol Radiant Capital found itself in the eye of the storm following a flash loan attack that resulted in a significant loss of $4.5 million.

The native token of a decentralized finance (DeFi) lending and borrowing protocol built atop LayerZero Labs, Radiant Capital ($RDNT) has recently started surging following a multi-million-dollar investment from Binance Labs, the venture capital subsidiary of Binance, the world's leading cryptocurrency exchange by trading volume.

Radiant Capital, a DeFi lending protocol, will benefit from a $10 million investment from Binance Labs to make it simpler for consumers to lend or borrow money across several blockchains.

Binance Labs, the crypto exchange's investment arm, has invested a historic $10 million in Radiant, a leading decentralized finance (DeFi) platform. This funding demonstrates confidence in the expanding DeFi community and its promising future.

Key Points: According to Lookonchain, a huge whale address transferred 4.62 million RDNT to Binance today after the price of increased. A large investor, known as a “whale,” has recently made a deposit of 4.62 million RDNT tokens (equivalent to 1.4 million dollars) at cryptocurrency exchange Binance.

On 30 March, Binance [BNB], the largest crypto exchange in the world, announced the listing of RDNT. The latter is the native token for an upcoming multi-chain DeFi platform Radiant Capital.