Radiant Capital Commences Repayment Post $4.5M Exploit

• Following a $4.5 million flash loan exploit, Radiant executes a strategic repayment plan.
• Radiant Capital repays 1,190 ETH and aims for full reimbursement in 90 days.
• $100K bounty is offered in the ongoing exploit investigation.

Radiant Capital has initiated repaying its debts following the $4.5 million flash loan exploit earlier this month. According to their latest announcement on January 23, the protocol has successfully repaid 1,190 ETH, which is equivalent to $2.6 million. This move leaves Radiant with approximately 720 ETH ($1.6 million) of remaining bad debt.

Significantly, Radiant’s repayment strategy aligns with the RFP-27 proposal, ratified on January  8. This decision, supported by 73% of user votes, outlines using funds from the Radiant DAO Treasury and operating expenditures to address the bad debt. At the proposal’s passing, the DAO Treasury boasted a balance of $5.2 million, with protocol revenues estimated at around $500,000 monthly. 

Moreover, the exploit targeted Radiant’s USD Coin (USDC) lending pool on the Arbitrum network. PeckShield, a blockchain security and data analytics company, noted. “The root cause is not new: It exploits a…

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