Ethereum News Today: DeFi Hacker Turns $53M Theft Into $94M Windfall With Ethereum Gains

The hacker behind the $53 million exploit of DeFi protocol Radiant Capital has significantly increased the value of the stolen funds through strategic Ethereum trading. According to on-chain analysis from EmberCN, the hacker initially sold 9,631 ETH at an average price of $4,562, converting it into 43.93 million DAI. As Ethereum prices retreated, the hacker repurchased 2,109.5 ETH at a lower average price of $4,096, using 8.64 million DAI. This calculated move allowed the hacker to acquire more ETH for less capital, effectively increasing their total holdings and overall portfolio value [1]. The wallet now contains 14,436 ETH and 35.29 million DAI, with a combined value of approximately $94.63 million, representing a gain of over $41.63 million from the original stolen amount [2]. This increase underscores the hacker's adept understanding of market dynamics and highlights the challenges in recovering funds once they are actively traded across different assets.

Ethereum’s price volatility has played a crucial role in the hacker’s strategy. The price of ETH recently dipped below $4,300, creating opportunities for aggressive buyers to accumulate more tokens at a lower cost. On-chain analyst Lookonchain noted that the decision to hold most of the assets in ETH during its recent rally was a major factor in the increased balance. The hacker's ability to time the market and execute these trades has amplified the initial theft into a much larger illicit fortune. This incident also demonstrates the broader security vulnerabilities within DeFi protocols, where sophisticated cybercriminals can exploit weaknesses and manipulate the market to their advantage [3].

The Radiant Capital breach, which occurred in October 2024, involved a sophisticated attack on the protocol’s multisig wallet using macOS-specific malware called INLETDRIFT. This exploit allowed the attacker to siphon tokens from lending pools on Arbitrum and BNB Chain. At the time, the stolen assets were quickly converted into 21,957 ETH, valued at around $53 million. Instead of liquidating the holdings immediately, the hacker held onto ETH as its price climbed, capitalizing on the market’s upward trend [4]. The October incident marked the second major breach of Radiant Capital in 2024, following a $4.5 million flash loan exploit earlier that year. It underscores the persistent security risks in DeFi, which has already seen significant losses in 2025.

The success of the Radiant Capital hacker in growing their illicit fortune sends a troubling message across the DeFi landscape. It highlights not only the vulnerabilities within protocols but also the difficulty in tracing and freezing funds once they are actively traded across different assets. While on-chain analysis can track these movements, actual recovery remains a formidable challenge. This incident underscores the critical need for enhanced security measures within DeFi projects and more robust collaboration among exchanges and law enforcement agencies to prevent such financial gains from criminal activities. The ability of the Radiant Capital hacker to operate with such impunity, even turning a profit, emphasizes the ongoing cat-and-mouse game between cybercriminals and the crypto community [5].

As the DeFi ecosystem continues to evolve, the balance between innovation and security remains a pressing concern. The Radiant Capital breach serves as a stark reminder of the sophistication of cybercriminals and the persistent challenges in safeguarding assets within the blockchain ecosystem. With Ethereum’s price climbing toward record highs and increased institutional interest, the DeFi space faces a growing need to address these vulnerabilities. The incident also raises broader questions about the regulatory environment and the role of blockchain analytics in tracking illicit activities. As the crypto space matures, it must develop stronger defenses and regulatory frameworks to mitigate the risks associated with such exploits and ensure the long-term viability of decentralized finance [6].

Source:

[1] title1 (https://www.panewslab.com/en/articles/6243be62-771e-4a3b-bf1d-f607a6d2989e)

[2] title2 (https://www.mexc.co/en-IN/news/radiant-capital-hackers-astounding-profit-stolen-funds-nearly-double-through-eth-trades/67335)

[3] title3 (https://crypto.news/radiant-capital-hacker-doubles-funds-eth-trading-2025/)

[6] title6 (https://www.onesafe.io/blog/ethereums-rise-defi-security-radiant-capital-hack)