Radiant Capital suffered an exploit across chains, several blockchain security firms said Wednesday, as the project confirmed that an “issue” had emerged with its lending markets.

Blockchain security firm Ancilia Inc. first reported suspicious activity on a Radiant Capital smart contract on BNB Chain at 1:35pm ET on Wednesday in a Twitter (aka X) post. A list of on-chain transactions appeared to show hackers had drained at least $16 million from Radiant on BNB, according to Ancilia.

Assets were then drained from Radiant’s pools on Ethereum layer-2 network Arbitrum. Hacken, another security firm, said in a tweet that roughly $50 million in digital assets appear to have been siphoned from various trading pools on Radiant, including those holding USDT, USDC, and ARB. 

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Author: Liz Napolitano