By Philip Maina
6 days agoFri Oct 25 2024 09:51:57
Checking out Time: 2 minutes
Glowing Capital’s hacker has actually transformed all taken funds into ETH and combined the loot in a single wallet. The opponent moved the funds from BNB Chain and Ethereum layer 2 Arbitrum, totaling up to around $52 million. The debt consolidation is considered as an objective by the enemy to transfer the funds into coin-mixing services like Tornado Cash, suggesting that he does not intend on returning the funds.
Glowing Capital Is Working with Chainalysis
According to blockchain security company PeckShiled, the hacker moved funds from 20 wallets into 6 wallets as part of the debt consolidation. PeckShield’s findings come hardly a week after the assaulter siphoned the funds from the DeFi platform.
#PeckShieldAlert #RadiantCapital Exploiter -identified addresses have actually bridged almost all taken funds from #Arbitrum and #BNBChain to #Ethereum, amounting to ~ 20.5 K $ETH (worth ~$52M). pic.twitter.com/JquCL84hZl
— PeckShieldAlert (@PeckShieldAlert) October 24, 2024
Glowing Capital formerly divulged that it’s dealing with Chainalysis and other on-chain security companies to track and potentially recuperate the funds. It didn’t, nevertheless, divulge whether it has actually gotten in touch with the enemy or provided a bug bounty in exchange for the remainder of the funds.
The current hack was the 2nd this year, the very first occurring early this year, and around $4 million was taken. Recently, Radiant Capital encouraged users to stop connecting with the platform till more notification.
Does the Hacker Wants To Keep the Funds?
The aggressor’s relocation prevails with hackers who have actually chosen to keep the whole loot. A current such circumstance is when the WazirX hacker moved taken funds into brand-new wallets. He later on moved the funds to Tornado Cash to make complex the tracking procedure.
To lure hackers to return funds, some DeFi procedures are using a higher-than-normal bounty and a pledge not to take legal action. 4 days back, for instance, Tapioca DAO used its hacker over 20% of the $4.7 siphoned from the platform as a bounty.
With the Radiant Capital hacker combining the loot, it’s not likely he’s preparing to return the funds.
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