TechFlow News, October 18 — Arthur, founder of DeFiance, commented on the Radiant Capital hack incident on X, stating, "I firmly believe that if you are handling large amounts of user funds and are properly funded, there is no reason not to use best-in-class institutional custody solutions. Just use top-tier institutional custody platforms like Fireblocks, Fordefi, etc. They can easily be integrated into your multisig workflows. Hardware wallets + SAFE multisig do not work."
Previously, blockchain security firm SlowMist released an analysis of the Radiant Capital security incident, reporting that the attacker had illegitimately obtained control of three owners within Radiant Capital's multisig wallet. Since the multisig wallet used a 3-of-11 signing scheme, the attacker was able to perform off-chain signatures using these three private keys and subsequently executed on-chain transactions.
