Key Notes
- The exploiter previously made huge profits with the stolen assets.
- Now, they’re buying Ethereum again as the price plunged.
- The Radiant Capital Hacker is already in profit.
The hacker group that stole $53 million from Radiant Capital, a cross-chain lending protocol, is making strong bets on Ethereum (ETH).
Exploiter Purchases 2K Ethereum
According to data from Lookonchain, the exploiter’s address purchased 2,109.5 ETH on DODO, an on-chain liquidity provider and decentralized exchange, for an average price of $4,096.
Data shows that the hackers used DAI to accumulate the ETH early on August 20.
Ethereum is currently trading near $4,200, up from its local low of $4,064 earlier today.
At this point, the Radiant Capital hacker is already up by over $200,000 on their Ethereum holdings.
Radiant Capital Exploit Detailed
Radiant Capital was exploited in September 2024 by the North Korean hackers. The cross-chain lender lost $53 million to fraudulent actors, who allegedly socially engineered their way to inject their malware using a PDF document.
The protocol has already contacted the Federal Bureau of Investigation and multiple blockchain security firms like SEAL911, Hypernative, ZeroShadow, and Chainalysis to recover the funds. But still, no luck.
As the hackers moved the funds into multiple addresses, they also started trading Ethereum to make huge profits.
According to an Aug. 14 report, the North Korean hackers turned the stolen $53 million into roughly $103 million, a 93.5% return in around 10 months.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.
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Source: https://www.coinspeaker.com/hacker-doubles-crypto-heist-eth-reinvestment/
