Radiant Capital Suffers $50M Loss Due to Significant Security Breach
Radiant Capital Exploit: Radiant Capital experienced a significant security breach on October 16, 2024, resulting in a loss of over $50 million due to a multisig wallet compromise, with funds laundered through Tornado Cash.
Impact on DeFi Security: The incident raised concerns about the security of multisig wallets in decentralized finance (DeFi), prompting calls from the community for enhanced security measures to restore trust and confidence in the platform.
Market Response: In response to the exploit, Radiant Capital paused its Base and Mainnet markets to prevent further unauthorized withdrawals, which negatively affected liquidity and market confidence.
Need for Improved Security Practices: Experts emphasize the importance of secure key management and collaboration with security firms to mitigate risks associated with multisig wallet vulnerabilities in the DeFi space.
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Technical Analysis for RDNT
Technical Sentiment Analysis for Radiant Capital (RDNT) As of , Radiant Capital (RDNT) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for RDNT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, RDNT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Radiant Capital (RDNT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00189 | 0.00352 | 0.00519 | 0.00682 | 0.00849 | 0.0101 | 0.0118 |
| Fibonacci | 0.00352 | 0.00478 | 0.00556 | 0.00682 | 0.00808 | 0.00886 | 0.0101 |
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