- Radiant Capital’s hacker has consolidated stolen funds into a single wallet
- The hacker has converted all the funds into ETH
- The move is seen as a motive to transfer the funds into coin-mixing services like Tornado Cash
Radiant Capital’s hacker has converted all stolen funds into ETH and consolidated the loot in a single wallet. The attacker moved the funds from BNB Chain and Ethereum layer 2 Arbitrum, amounting to approximately $52 million. The consolidation is viewed as an intention by the attacker to deposit the funds into coin-mixing services like Tornado Cash, indicating that he doesn’t plan on returning the funds.
Radiant Capital Is Working with Chainalysis
According to blockchain security firm PeckShiled, the hacker moved funds from 20 wallets into six wallets as part of the consolidation. PeckShield’s findings come barely a week after the attacker siphoned the funds from the DeFi platform.
#PeckShieldAlert #RadiantCapital Exploiter -labeled addresses have bridged nearly all stolen funds from #Arbitrum and #BNBChain to #Ethereum, totaling ~20.5K $ETH (worth ~$52M). pic.twitter.com/JquCL84hZl
— PeckShieldAlert (@PeckShieldAlert) October 24, 2024
Radiant Capital previously disclosed that it’s working with Chainalysis and other on-chain security firms to track and possibly recover the funds. It didn’t, however, disclose whether it has contacted the attacker or offered a bug bounty in exchange for the rest of the funds.
The recent hack was the second this year, the first happening early this year, and around $4 million was stolen. Last week, Radiant Capital advised users to stop interacting with the platform until further notice.
Does the Hacker Wants To Keep the Funds?
The attacker’s move is common with hackers who have decided to keep the entire loot. A recent such scenario is when the WazirX hacker moved stolen funds into new wallets. He later moved the funds to Tornado Cash to complicate the tracking process.
To entice hackers to return funds, some DeFi protocols are offering a higher-than-normal bounty and a promise not to take legal action. Four days ago, for example, Tapioca DAO offered its hacker over 20% of the $4.7 siphoned from the platform as a bounty.
With the Radiant Capital hacker consolidating the loot, it’s unlikely he’s planning to return the funds.
