Radiant resumes lending market on Base, emergency administrator multi-signature has started running

Odaily News Radiant Capital said in a post on X that following the successful restoration of the lending market on the Ethereum mainnet this week, the Base market has also been restored and is fully operational. The delay was due to the need for additional transactions after the activation of the time lock, involving the transfer of the emergency administrator role to a new multi-signature. This multi-signature is now operational and is only used for emergencies, and its authority is limited to suspending and resuming the market when necessary. In addition, an important note about the RIZ market (ARB and BNB) is as follows: This weekend, the RIZ market on Arbitrum (ARB) and Binance Smart Chain (BNB) will be temporarily suspended. This measure is intended to prevent potential liquidations that users may encounter due to changing market conditions. Both the RIZ and dLP contracts on the affected chains (BNB and ARB) have calls that interact with functions in the core market smart contracts, which have recently been compromised. The team is developing fixes for these contracts, but a thorough external review is required before they can go online again. This suspension is to protect users' positions during this period. Earlier news, Radiant suffered a hacker attack and lost $53 million.