The perpetrator behind the 2024 Radiant Capital hack has resurfaced—this time cashing in on a calculated long-term bet that nearly doubled the value of stolen funds.
According to blockchain analytics firm Lookonchain, the attacker converted their $53 million haul from last October’s exploit into roughly $102.5 million, representing a 93.5% profit. The windfall came from patient holding and well-timed Ethereum (ETH) sales.
Following the breach, the hacker consolidated all stolen assets into 21,957 ETH. For months, the funds sat untouched—until August 12, 2025, when the exploiter offloaded 9,631 ETH for $43.9 million in DAI stablecoins, averaging $4,562 per ETH. The proceeds were moved to a separate wallet, while the attacker retained about 12,326 ETH.
The Radiant Capital hacker turned the stolen $53M into $102.54M by trading $ETH, a profit of $49.5M(+93.5%).
— Lookonchain (@lookonchain) August 14, 2025
10 months ago, the hacker stole $53M from Radiant Capital and swapped it all for 21,957 $ETH.
Recently, he began selling $ETH for profit, selling 9,631 $ETH($43.94M) at… pic.twitter.com/hwbLDnTVe5
Ethereum’s recent surge to just under $4,750 boosted the remaining stash’s value to approximately $58.6 million—adding nearly $49.5 million to the hacker’s original take. The staggered liquidation suggests a deliberate, long-term cash-out strategy rather than an immediate sell-off.
A High-Profile Breach
The Radiant Capital hack, one of the largest crypto heists of 2024, began with a targeted social engineering scheme. Attackers posed as a former contractor on Telegram, sending a malicious file disguised as a PDF. The file’s embedded macOS malware altered transaction displays, tricking developers into approving harmful smart contract calls.
Radiant Capital
Investigators linked the incident to AppleJeus, a North Korea-affiliated hacking group tied to the Lazarus cybercrime syndicate. By exploiting compromised signatures through routine transaction resubmissions, the attackers seized control of Radiant’s lending pools on both Arbitrum and Binance Smart Chain.
Despite extensive recovery efforts, the stolen funds remain beyond reach. The latest movements suggest the attacker has no intention of returning them.
An Industry-Wide Warning
The case underscores a troubling reality: cryptocurrency platforms remain high-value targets for increasingly sophisticated hackers. In 2025 alone, the industry has already lost more than $3.1 billion to scams and breaches. Experts warn that only stronger, coordinated security measures will help curb the trend.
