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12 Aug 2025, 10:42
Cardano Climbs Charts While SEC’s ETF Decision Looms
Cardano occupies third place in Grayscale's weekly cryptocurrency performance rankings. The SEC's pending decision on an ADA-based ETF is highly anticipated. Continue Reading: Cardano Climbs Charts While SEC’s ETF Decision Looms The post Cardano Climbs Charts While SEC’s ETF Decision Looms appeared first on COINTURK NEWS .
12 Aug 2025, 10:42
AguilaTrades Opens 15x Leveraged Short Position on 26,000 ETH, Potentially Shaping Market Sentiment
AguilaTrades has opened a leveraged short position on Ethereum, involving 26,000 ETH at 15x leverage, which may significantly impact market liquidity. AguilaTrades initiates a leveraged Ethereum short position. The position
12 Aug 2025, 10:40
Radiant Capital Exploiter: Shocking $13.26M ETH to DAI Conversion Revealed
BitcoinWorld Radiant Capital Exploiter: Shocking $13.26M ETH to DAI Conversion Revealed The cryptocurrency world is buzzing with news as the Radiant Capital exploiter recently made a significant move. This development highlights the ongoing challenges within decentralized finance (DeFi) security. Investors and enthusiasts are closely watching the fallout from the October 2024 hack that targeted Radiant Capital. What Did the Radiant Capital Exploiter Do? In a notable on-chain transaction, the individual behind the Radiant Capital security breach converted a substantial amount of stolen funds. Specifically, the Radiant Capital exploiter sold 3,091 ETH, transforming it into 13.26 million DAI. This conversion occurred at an approximate rate of $4,291 per ETH. After completing this large ETH to DAI swap, the exploiter then transferred these newly acquired DAI stablecoins to a different wallet address. This movement is a common tactic used by hackers to further obscure the trail of stolen assets and make them harder to trace or recover. How Was This On-Chain Tracking Revealed? The details of this significant transaction came to light through vigilant on-chain tracking . Platforms like Onchain Lens, which specialize in analyzing blockchain data, identified and reported the conversion on X (formerly Twitter). Such services play a crucial role in maintaining transparency within the crypto ecosystem, even amidst illicit activities. The ability to track these movements offers a glimmer of hope for potential recovery efforts, although it remains a challenging endeavor. This incident underscores the importance of robust analytics in understanding the flow of funds post- cryptocurrency hack events. Understanding the Broader Impact of Cryptocurrency Hacks The initial Radiant Capital hack , which occurred on October 17, 2024, resulted in a staggering loss of $53 million. This event, and the subsequent actions of the exploiter, send ripples throughout the DeFi space. They serve as stark reminders of the vulnerabilities that can exist in even well-established protocols. Such incidents erode user trust and can lead to significant financial repercussions for individuals and the broader market. Therefore, continuous improvement in DeFi security measures is paramount. The industry must learn from these breaches to build more resilient systems. Protecting Your Assets: Lessons from the Radiant Capital Hack While the immediate focus is on the exploiter’s actions, the Radiant Capital incident offers valuable lessons for all crypto users. Here are some key takeaways for enhancing your personal DeFi security : Diversify Your Holdings: Avoid putting all your assets into a single protocol, no matter how secure it seems. Stay Informed: Regularly check news and updates from protocols you use, especially regarding security audits and potential vulnerabilities. Use Hardware Wallets: For significant holdings, hardware wallets provide superior security compared to software wallets. Understand Risks: Before interacting with any DeFi platform, thoroughly research its smart contract audits and understand the inherent risks involved. Be Skeptical of Unsolicited Offers: Phishing attempts and scams are common after major hacks. Always verify information from official sources. These proactive steps can significantly reduce your exposure to risks in the volatile crypto landscape. Vigilance is your best defense against bad actors. The conversion by the Radiant Capital exploiter serves as a powerful reminder of the persistent threats in the decentralized finance world. While on-chain tracking provides transparency, the ultimate goal remains preventing such breaches. The ongoing efforts to enhance DeFi security are critical for the long-term health and growth of the crypto ecosystem. Staying informed and practicing strong security habits are essential for navigating this evolving landscape. Frequently Asked Questions (FAQs) Q1: What was the Radiant Capital hack? A1: The Radiant Capital hack was a security breach that occurred on October 17, 2024, resulting in the theft of approximately $53 million from the DeFi lending protocol. Q2: What did the Radiant Capital exploiter convert? A2: The exploiter converted 3,091 ETH, valued at about $13.26 million, into DAI stablecoins. Q3: Why did the exploiter convert ETH to DAI? A3: Converting volatile assets like ETH into stablecoins like DAI helps hackers stabilize the value of their stolen funds and makes them easier to move without significant price fluctuations. It also aids in obscuring the funds’ origin. Q4: How was this conversion discovered? A4: The conversion was discovered through vigilant on-chain tracking by blockchain analytics platforms, specifically reported by Onchain Lens on X. Q5: What is on-chain tracking? A5: On-chain tracking involves analyzing public blockchain data to monitor transactions, wallet movements, and other activities. This helps in understanding the flow of digital assets, including those involved in illicit activities. Q6: How can users protect themselves from DeFi hacks? A6: Users can protect themselves by diversifying holdings, staying informed about protocol security, using hardware wallets, understanding inherent risks, and being wary of phishing attempts or unsolicited offers. If you found this article insightful, please consider sharing it with your network! Help us spread awareness about critical DeFi security practices and the latest developments in the crypto space by sharing on social media. To learn more about the latest DeFi security trends , explore our article on key developments shaping DeFi protocols for enhanced protection. This post Radiant Capital Exploiter: Shocking $13.26M ETH to DAI Conversion Revealed first appeared on BitcoinWorld and is written by Editorial Team
12 Aug 2025, 10:37
Hyperscale Data subsidiary purchases 8,150 XRP tokens for $25,000
12 Aug 2025, 10:33
SEC and Ripple’s Legal Resolution Opens Path for Clearer Cryptocurrency Regulatory Framework
The SEC has ended its nearly five-year legal battle with Ripple Labs, allowing the agency to focus on creating a clear regulatory framework for cryptocurrency. The SEC and Ripple Labs
12 Aug 2025, 10:32
Do Kwon expected to plead guilty in $40B UST collapse case
Terraform Labs co-founder Do Kwon is expected to plead guilty in a U.S. criminal case over the $40 billion collapse of the TerraUSD stablecoin in 2022. U.S. District Judge Paul Engelmayer in New York has set a change-of-plea hearing for Tuesday, where Kwon must explain in detail how he broke the law if he admits guilt. Kwon pleaded not guilty in January, but the new court schedule shows he may now change his mind after months of legal battles . He faces several charges, including conspiracy to defraud, commodities and securities fraud, market manipulation, wire fraud, and conspiracy to commit money laundering. Judge sets hearing as Kwon prepares to admit guilt Judge Paul Engelmayer told Do Kwon he must stand in court and clearly explain what he did and how each guilty plea fits the laws he broke, also known as a “narrative allocution.” The TerraUSD crash erased $40 billion in value and shook the global crypto industry in 2022, so prosecutors want this record to show he was clearly responsible. Kwon went into hiding after the stablecoin collapsed in May 2022, but police arrested him as he tried to board a private jet to Dubai with a fake passport at an airport in Podgorica, Montenegro, in March 2023. Kwon stayed in custody in Montenegro for months while the U.S. and South Korea argued over who would try him first. The fight continued into 2024 before Montenegro sent him to the United States. TerraUSD collapse sparks global crypto crash Terraform Labs ’ TerraUSD (UST) used a computer system called “mint-and-burn,” linked to its sister coin LUNA, to keep its value at one U.S. dollar. Traders thought it was a safe way to earn steady returns without the big price swings of most cryptocurrencies, because the system made or removed tokens to match supply with demand and hold the dollar value. In May 2022, the system failed, breaking UST’s dollar peg and crashing its price. The collapse erased about $40 billion in value from UST and LUNA within days, wiping out the savings of thousands of small investors and causing huge losses for big institutions. The crash shook the crypto market, causing companies that invested heavily in UST or used it in their trading plans to lose money. Several went bankrupt, including the well-known FTX exchange later that year. A New York jury in 2024 found Do Kwon and Terraform Labs guilty of civil fraud in a case by the U.S. SEC. The jury said they lied to investors about UST’s stability and made false claims about how they used their blockchain technology. After the verdict, Kwon and Terraform Labs agreed to pay $4.47 billion to the SEC, shut down, and sell assets to repay creditors and victims. Kwon still faces U.S. criminal charges that could mean up to 61 years in prison. If Kwon enters a guilty plea on Tuesday, it could be one of the highest-profile admissions in crypto scandals ever. It could also bring him closer to being sentenced in the US, although it remains to be seen if he will even end up standing trial in South Korea. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites
