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Cross-chain lending protocol Radiant Capital has suspended its lending markets. The report states that Radiant Capital has received reports of a $4.5 million hack that affected one of the new USD Coin (USDC) markets. Today, we received a report of an issue with the newly created native USDC market on Arbitrum. After validation by Radiant developers and the wider Web 3 security community, the Radiant DAO Council paused lending/borrowing markets on Arbitrum temporarily while this is… — Radiant Capital (@RDNTCapital) January 3, 2024 Blockchain security platform Beosin linked the attack to using instant credit with the attack er taking advantage of a “rounding problem” in the code base, “which led to a cumulative accuracy error.” As a result, the attack er made a profit through repeated deposits and withdrawals of assets. “The attack er manipulated the index parameter (which later served as a denominator) to become extremely large. The contract has a rounding issue in its c...

With the growing popularity of online gambling and casinos in the crypto industry, Stake.com, the premier sports betting website, is a prominent name. Stake.com made headlines when it signed hip-hop sensation Drake in a $100 million-a-year deal. The gambling platform is also the official sponsor for the Premier League’s football club Everton and the F1 Racing team of Alpha Romeo. advertisement How Much Did Stake.com Lose In The Exploit? According to the post by Cvyers, Stake.com, was hit with an exploit of around $15 million, which included Ethereum, USDC, and USDT. Cyber’s report also stated that all the exploited stablecoins were first converted into Ethereum and then transferred to several externally owned accounts (EOA.) However, if we look closer at the number of transactions during the exploit on the Arkham platform, Cyvers’s AI could not detect the large sum of Polygon and BNB chain assets siphoned in the exploit. Most of the wallets ...