Radiant Capital Hack Leads to $103 Million Windfall as Ether Surges
- Radiant Capital was hacked in October, resulting in a loss of $58 million.
- The attacker now holds approximately 21,957 ETH, valued at about $103 million due to rising prices.
- Ether’s price increased from over $2,300 on October 15 to above $4,700 recently.
- The total net flow into Ether spot ETFs in the US reached $12.12 billion since their launch.
- Over 36 million ETH is currently staked, contributing to reduced supply on exchanges.
The rise in Ether’s value is attributed to various factors including significant ETF inflows and a decrease in circulating supply due to staking. Analysts suggest the hacker’s decision to hold ETH was likely influenced by operational security rather than market speculation.
As a result of these developments, the stolen funds have nearly doubled in value amid a broader market increase for Ether, highlighting the volatility and potential for profit even from illicit activities.(Source)
