Blockchain security and analytics firm PeckShield Inc. has reported that cross-chain lending protocol Radiant Capital was hacked for $4.5 million worth of ETH (1,900 ETH). According to PeckShield, the hack exploited a time window when a new lending market was activated. The breach occurred just six seconds after the activation of the new USDC market. Radiant Capital has acknowledged the issue and suspended its lending and borrowing markets on Arbitrum, a Layer-2 scaling solution. The company plans to publish a postmortem after resolving the issue and assures that no current funds are at risk.
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Radiant Capital reportedly hacked for $4.5 million worth of ETH
