The hacker from the Radiant Capital attack back in October 2024 has resurfaced and turned their $53 million profit into around $102.5 million total, a 93.5% gain.
According to Lookonchain, a blockchain intelligence company, the hacker has been hoarding the stolen Ethereum and then waits to pull the trigger at price points during the peaks of the price.
This is more of a cash-out long-term strategy than liquidation as a goal of exploiting the launch, and allowing the exploiter to maximize a sale realized as good to great, in the context of Ethereum’s strong rally over the past three months.
Strategic Asset Management Yields Huge Returns
After the Radiant Capital hack which was reported by UnoCrypto on December 7th, the attacker converted the stolen funds into 21,957 ETH.
For almost ten months, the attacker was not active until they made an appearance on August 12. They exchanged 9,631 ETH for DAI stablecoin worth $43.9 million, which was at an average price of $4,562 per ETH.
The stablecoins have moved to another wallet, with 12,326 ETH still held by the attacker.
Currently, Ethereum is trading around $4,750. The 12,326 ETH stash has a value of approximately $58.6 million, which is a 3% increase in value over the past 24 hours.
By holding the ETH throughout the price increase, the attacker bestowed the originally stolen funds, approximately $49.5 million in profit.
Also Read: Crypto-Related Hacking Incidents in 2024 See Record-Breaking Losses of $3.01B, Up 15% Over 2023
The Radiant Capital Hack: A Sophisticated Social Engineering Attack
The Radiant Capital hack continues to be one of the worst hacks in DeFi to this day.
In October of 2024, attackers successfully impersonated a former contractor (over Telegram) and sent Radiant a zip file disguised as a PDF.
The zip file contained a macOS malware that drove a transaction display, leaving the developers clicking on malicious smart contract calls.
The hack allowed the attackers to seize control of Radiant’s lending pools on Arbitrum and the Binance Smart Chain, and they lost tens of millions as a result of this hack.
Notably, Blockchain security experts have associated this operation with AppleJeus, which is affiliated with North Korea and is well-known for its ties to the Lazarus Group.
Also Read: US & Japanese Authorities Blame North Korean Hackers For $308M Heist on Japanese Crypto Exchange
Industry-Wide Implications and Ongoing Losses
The Radiant incident reflects the escalating level of cyberattacks in the crypto sector, but unfortunately, there is still no sign of recovery on any of the stolen assets.
The hacker’s recent activities suggest that it may be impossible to get back these funds. The incident comes with a larger trend: in 2025 alone, figures over $3.1 billion have been lost in hacks and scams.
Experts warn that malicious actors continue to evolve with their techniques to evade new security measures, reinforcing calls for increased defensive security systems and employee education and training, as well as real security audits for all decentralized protocols.
Also Read: Hyperliquid Sees Rise in Trade From North Korean Hacker Addresses With $700K In Total Losses
Other Notorious Profits from Stolen Crypto
The Radiant instance is not the only case of hackers making huge profits from their stolen assets.
According to UnoCrypto’s report on March 21, 2025, blockchain researcher ZachXBT linked a “Hyperliquid whale” who made $20 million in trading profits to the British criminal and fraudulent hacker William Parker.
Similarly, on April 3, 2025, we also reported that the North Korean Lazarus Group turned a $3.51 million stash of wrapped Bitcoin (WBTC) into $6.02 million with a $2.51 million profit after holding it for 13 months and offloading it for 1,857 ETH.
The various scenarios shown narrow a similar trend of skilled hackers who are willing to wait months or years to cash out on stolen money when it maximizes their profits, thus making recovery efforts more difficult.
Also Read: Crypto Stolen Money Hits $2.2B in 2024 with North Korea Making Off 60% of Global Crypto Thefts