๐จ Radiant DAO Plans to Pay Back Users After $8.9M Hack ๐ธ
Hereโs the latest update for users affected by the hack! ๐ ๏ธ
Radiant DAO has announced a plan to pay back people who lost money in a security breach ๐ that happened on October 16, 2024. The hack targeted users on Arbitrum ๐ and BNB Chain โ๏ธ, stealing $7.7 million in 2024 and another $1.2 million in early 2025 (total $8.9M ๐ฐ). Hereโs the plan in simple terms:
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### Whatโs Happening? ๐ข
- ๐ป Money Back via Smart Contract: Radiant will create a special system (on Arbitrum) to return funds. Users will get money based on how much they lost๐.
- ๐ Stolen Tokens Converted: All stolen crypto (like ETH, BNB) will be swapped into one stablecoin ๐ต (e.g., USDT) using prices from the time of the hack.
- โ Small Losses Ignored: If you lost less than $1, you wonโt get paid back.
### Important Notes ๐ฉ
1. ๐ฅ Priority for Earlier Hack Victims: People hurt by a past hack (RFP-47 proposal) will get paid first.
2. ๐ Recovered Funds?: If stolen crypto is ever found, itโll be split fairly among all victims.
3. โณ Timing: Refunds will take years to finish. You can check progress on a special website ๐.
4. โ ๏ธ Risk Alert: The plan depends on partners donating money. If they donโt help, refunds could slow down or stop ๐.
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### What Should You Do? ๐
- ๐ Wait for Updates: Radiant DAO will share instructions soon. Follow their official channels ๐ข.
- ๐ซ Avoid Scams: Donโt trust anyone asking for your private keys ๐ or wallet access ๐จ.
This plan is a big step to fix trust, but success depends on teamwork ๐ค.
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Stay safe and follow Binance Square for more crypto news! ๐๏ธ๐
