Radiant Capital Genius move! ETH proceeds went from 53 million to 95 million USD.

The shocking Radiant Capital hack incident from last year has made an astonishing progress. On-chain data shows that the hacker, through precise Ethereum (ETH) buy low, sell high operations, has successfully increased the initially stolen assets of 53 million USD to nearly 95 million USD, achieving a return of 56%. This hacker version of "Wall Street operation" is attracting high attention from the market and security experts.

Event Review: Starting from the $53 million Theft Case

(Source: Arkham)

In October 2024, the decentralized lending protocol Radiant Capital was attacked on networks such as Arbitrum, resulting in a loss of over 50 million dollars in assets.

Hackers breached the hardware wallets of multiple developers, gaining control of WETH, WBTC, USDC, USDT, and Arbitrum tokens, and ultimately transferred these assets to the Ethereum network.

Precise Operation: buy low, sell high to lock in profits

According to on-chain analyst EmberCN's tracking, hackers began to liquidate part of their ETH holdings on August 20.

Sell operation: Sell 9,631 ETH at an average price of $4,562, exchanging for approximately $43.94 million DAI.

Buyback operation: When ETH retraced to about $4,096, repurchased 2,109.5 ETH, costing about $8.64 million.

This strategy of "selling high and buying low" not only locks in the profit from price differences but also reduces the volatility risk of positions, making it an extreme example of on-chain capital management.

Asset Status: From 53 million to 95 million USD

According to Arkham Intelligence data, the hacker currently controls:

about 17,000 ETH

approximately 25.29 million USD DAI

The total value is close to 96 million USD, which is an increase of 42 million USD from the initial theft of 53 million USD, representing an increase of approximately 56%. This means that the hackers not only preserved the stolen funds but also significantly appreciated them amidst market fluctuations.

Market and Security Insights

This incident highlights two realities:

The power of flexible on-chain capital utilization: even assets obtained illegally can achieve rapid appreciation through precise trading strategies.

Decentralized security challenges: Even though the incident occurred nearly a year ago, the related funds are still active in the market, indicating the difficulty of cross-chain asset tracking and freezing.

For investors and parties involved in the agreement, this is a warning: the loss from security vulnerabilities is not only about the current amount, but also about the potential amplified market influence in the future.

Conclusion

Radiant Capital's hackers have taken the "doubling road" from $53 million to $95 million, a high-risk operation that combines on-chain arbitrage with market timing. This is not only a classic hacker case in cryptocurrency history, but it also reminds the entire industry that the challenges of security and fund monitoring are far from over. For more on-chain data tracking and security analysis, please follow the official Gate platform.