Nort Korea hackers dey use Radiant Capital security flaws for chop $50 million wey dem dey use INLETDRIFT malware
Radiant Capital, wan decentralized finance protocol, don enter wahala as North Korean hacking group wey dem dey call UNC4736 carry out attack wey make dem steal $50 million. Di attackers use sophisticated social engineering techniques, wey include fake contractor persona, to deceive one worker for Radiant make e install malware wey dem dey call INLETDRIFT. Dis breach sharply reduce di platform Total Value Locked (TVL) by over 97% for 2024. Security investigations show say di hackers manipulate front-end data and exploit developer permissions, wey highlight important weaknesses for DeFi platforms and di need to improve security measures. Radiant Capital, after dem don experience previous breach of $4.5 million, dey collaborate with cybersecurity firms to solve dis vulnerabilities. Di incident show di need for regular smart contract audits and better user education on phishing threats. Dis case dey demonstrate di challenges wey DeFi sectors dey face to fight state-sponsored cyber attacks, wey dey affect financial stability and user trust.
Bearish
Di news wey talk about $50 million wey dem steal from Radiant Capital dey show major weakness for DeFi sector, wey fit negative impact investor confidence and market stability. Traders fit dey expect bearish trend as dem go start to dey check matter well, and dem fit introduce tighter regulations, wey fit affect liquidity and trading activities. Dis kind high-profile security breach dey make people lose trust for DeFi protocols, wey fit lead to withdrawal or investors dey hesitate, and e fit bring down prices. Historical evidence show say dem kind incidents dey cause cautious market behavior until security measures don improve significantly.