In the wild world of cryptocurrency, where fortunes can flip faster than a meme token's hype cycle, the story of the Radiant Capital hacker continues to unfold. If you're new to this, Radiant Capital is a decentralized finance (DeFi) lending protocol that suffered a major hack about 10 months ago, losing around $53 million in user funds. The perpetrator swapped those stolen assets into Ethereum (ETH), the second-largest cryptocurrency by market cap, and has been playing the long game ever since.

According to on-chain analytics firm Lookonchain, the hacker didn't just sit on their ill-gotten gains. They turned that $53 million into over $102.5 million by smartly trading ETH, pocketing a whopping $49.5 million in profits—a 93.5% return. That's the kind of performance that would make even seasoned traders jealous. The hacker initially acquired 21,957 ETH with the stolen funds. Recently, they sold off 9,631 ETH at an average price of $4,562, raking in $43.94 million, while holding onto 12,326 ETH valued at about $58.6 million.

But here's where it gets even more intriguing: the hacker is now buying the dip in ETH. Just an hour before Lookonchain's latest tweet, the wallet associated with the hacker spent 8.64 million DAI—a stablecoin pegged to the US dollar—to purchase 2,109.54 ETH at $4,096 per token. This move suggests they're betting on ETH's recovery amid market volatility, potentially setting up for even bigger gains.

The transactions, as shown in the screenshot from Lookonchain, involve swaps through DODO, a decentralized exchange (DEX) known for its efficient routing. You can see multiple inflows and outflows of DAI and ETH, with the hacker's wallet (starting with 0x66...) actively trading. This isn't just random activity; it's calculated dip-buying during a period when ETH prices have dipped, possibly due to broader market corrections or news events.

What Does This Mean for Crypto and Meme Tokens?

DeFi hacks like this one highlight ongoing security challenges in the blockchain space. Radiant Capital, built on platforms like Arbitrum, allows users to lend and borrow assets across chains, but vulnerabilities can lead to massive exploits. For meme token enthusiasts, this serves as a reminder: while fun and viral, many meme projects operate in the same ecosystem as these DeFi protocols. Hacks can shake investor confidence, leading to sell-offs that ripple through to volatile assets like dog-themed coins or celebrity-backed tokens.

Moreover, the hacker's success in profiting from ETH trades underscores the pseudonymous nature of blockchain. Wallets can be tracked via tools like Arkham Intelligence or Etherscan, but recovering funds is tough without legal intervention. It's a double-edged sword—transparency for analysis, but privacy for bad actors.

If you're diving into meme tokens or DeFi, always prioritize security: use hardware wallets, enable two-factor authentication, and research protocols thoroughly. Events like this can influence market sentiment, potentially creating buying opportunities in undervalued memes during dips.

Background on the Original Hack

Flashback to the hack: In October 2024, attackers exploited a vulnerability in Radiant Capital's smart contracts, draining liquidity pools. The protocol paused operations and worked on reimbursements, but the stolen funds were long gone. Lookonchain's earlier update detailed how the hacker capitalized on ETH's price surge, selling high after buying low.

As ETH hovers around $4,000 levels in this hypothetical 2025 scenario, the hacker's dip-buying could pay off if prices rebound. Will they cash out more, or hold for the next bull run? Only the blockchain knows for sure.

Stay tuned to Meme Insider for more updates on crypto hacks, trading insights, and how they intersect with the meme token universe. Remember, this is not financial advice—always do your own research (DYOR) before jumping into any trades.