Crypto investors who don't take decentralisation seriously suffer losses

Radiant Capital - $50 million hacked

Radiant Capital - an allegedly decentralised crypto protocol trusted by 155,000+ users has just had a major setback.

Despite having undergone multiple successful audits with some of the world’s best auditing firms, such as Open Zeppelin, Blocksec, Zokyo, & Peckshield, nothing can fix the broken security model of smart contracts with just a few key holders - it's centralised by design.

Radiant Capital users are being urged to revoke smart contract approvals.

All that was needed for the hackers to steal funds was 3 out of 7 of the team members to authorise the transaction.

Most Layer 2 networks are secured by similar processes.

Investors who rely on centralised smart contracts protected by multi-signature permissions are at risk.

Staking on Tezos is a safer way to invest in crypto that utilises the decentralisation of over 300 validators.