Radiant Capital has reportedly been hacked with $4.5 million worth of ETH.

Radiant Capital, a cross-chain lending protocol, was hacked with 1,900 ETH ($4.5 million) from PeckShield Inc., a blockchain security and analytics company. reported to today.

“The root cause is not new,” PeckShield said. Basically, it takes advantage of the time window when a new market becomes active in the lending market,” he wrote. The security breach occurred just six seconds after the new attack took place. USDC

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The digital security company explained that the market has become active.

Radiant Capital also I acknowledged the problem with X.The Radiant DAO Board said it had temporarily suspended the lending and borrowing marketplace of Arbitrum, a layer 2 scaling solution operated by Radiant Capital, while the issue was investigated.

In the post, Radiant stated that the incident occurred due to “issues with the newly created native USDC market on Arbitrum.” They also mentioned that they plan to release a post-mortem after the issue is resolved.

Radiant Capital also confirmed in the post that no funds are currently at risk and that operations will return to normal once the investigation is complete. Radiant Capital did not immediately respond to The Block’s request for further comment via Telegram.

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