Ethereum-Fueled Profits: Hacker Doubles Stolen Funds After Radiant Capital Breach

A hacker who exploited Radiant Capital’s $53 million cross-chain DeFi protocol breach in October 2024 has seen a dramatic increase in their stolen funds. The hacker converted the entire stolen amount into 21,957 ETH at around $2,414 per token, initially achieving an estimated value exceeding $103 million. However, thanks to Ethereum’s subsequent price surge, their holdings have surged to around $102.5 million – yielding a profit of roughly $49.5 million or 93.5% increase. Notably, the hacker began selling some of the ETH, offloading approximately 9,631 ETH for about $43.94 million at an average price of $4,562 per ETH while keeping 12,326 ETH worth around $58.1 million. This decision was likely influenced by operational liquidity and security considerations over a deliberate market timing strategy. The incident underscores the ongoing vulnerabilities within DeFi platforms and the potential for significant financial gains from cryptocurrency price fluctuations.