Radix Network Halts Temporarily After Exploit; Engine Flaw Used to Drain Third-Party Vaults
AI Market Summary
Radix suffered an exploit in a previously undiscovered Radix Engine vulnerability, enabling unauthorized withdrawals from third-party vaults and cross-chain offloading via Hyperlane into major venues including Ethereum, BNB Chain, and Solana. Validators halted further damage by taking sufficient stake offline to prevent consensus, effectively pausing the network. The incident is risk-negative for cross-chain liquidity and DeFi confidence; near-term flows may pressure bridged assets on Ethereum.
Impact level
● Medium
Affected assets
ETH/USDT+5.90%
AI Insight · ETH/USDTAI Insight
▼ Bearish
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Odaily Planet Daily reported that the Radix Foundation has published an incident report detailing an exploit tied to a previously unknown vulnerability in the Radix Engine. The attackers were able to withdraw assets from third-party vaults without owner authorization, then bridged the funds via Hyperlane to multiple networks—including Ethereum, BNB Chain and Solana—where they were sold.
Radix said the flaw was introduced during a code cleanup in June 2023 and was not identified in an independent security audit performed by Zellic in August 2024. About three hours after the incident, Radix validators moved to stop further abuse by proactively taking enough staked shares offline to prevent the network from reaching consensus, effectively pausing the network.
Assets impacted included ETH, WBTC, USDT, USDC, BNB and SOL. Radix said the vulnerability has been patched, independently reviewed and tested, and work is ongoing to restore network operations.
