Ancilia Accidentally Shared Phishing Link to Vulnerable Radiant Capital

• Ancilia accidentally shared a phishing link to Radiant Capital
• Radiant Capital was recently hacked for $51.5M and before for $4.5M
• Ancilia rushed to remove the post with the link, but the damage had already been done

Cryptocurrency company Ancilia wanted to warn users about a threat regarding a vulnerability in the Radiant Capital protocol, but it did the opposite and accidentally shared a fraudulent link in its post, only increasing the situation.

Ancilia hurriedly removed the post with the link, but the company’s reputation had already suffered some damage.

Details of the Radiant Capital hack and Ancilia’s Mistake

It’s worth starting with the fact that lending platform Radiant Capital has already suffered a protocol hack and a $4.5M loss in January 2024. To this, the company stated that it was working to deal with the aftermath of the hack by partnering with crypto security companies like SEAL911 and Chainalysis and advised users to use revoke.cash to revoke smart contract authorizations and protect their assets.

And now, on October 16, it faced the hack again, with much bigger consequences, namely the withdrawal of $51.5M worth of funds from the user’s wallets, which was greatly facilitated by a mistakenly posted link in an Ancilia post.

Anonymous crypto commenter Spreek mentioned the issue, after which Ancilia rushed to remove the post but it already reached a large number of people, and it’s impossible to say exactly how much worse it made the consequences.

Conclusion

This is a very frustrating situation where a company wanted to sincerely warn users about a threat but unintentionally made the situation worse and damaged its reputation.

Let’s hope that this doesn’t prove disastrous for Ancilia and that Radiant Capital can thoroughly work on the security of its infrastructure and compensate users for the damage.

Be aware and stay tuned.