Radiant Capital to Wind Down Operations After Failing to Recover From $50 Million Hack

Decentralized finance lending platform Radiant Capital has announced plans to wind down operations after struggling to recover from a major security breach that occurred in late 2024.

Radiant Capital Unable to Recover After Lazarus Group Attack

The protocol’s decentralized autonomous organization (DAO) said it could not find a sustainable path forward following the loss of approximately $50 million in an exploit linked to North Korea’s Lazarus Group. According to the project, unsuccessful recovery efforts, limited access to new funding, and growing operational challenges contributed to the decision.

Radiant launched in 2022 with the goal of providing cross-chain liquidity services. The platform experienced rapid growth and reached a peak total value locked (TVL) of nearly $387 million in December 2023.

Hack Triggered Sharp Decline in Platform Activity

Following the October 2024 exploit, Radiant’s TVL dropped from around $75 million to just $5 million within weeks. The protocol was unable to regain user activity or liquidity after the attack.

Protocol Enters Maintenance Mode

Rather than shutting down completely, Radiant will move into a maintenance phase. Users will continue to have access to the platform’s frontend and smart contracts, allowing them to withdraw funds, repay loans, and manage existing positions.

However, development work, upgrades, and future expansion plans will be discontinued. The team also said recovery efforts related to the hack will continue, and any funds recovered will be returned to affected users.

Following the announcement, the RDNT token declined more than 4%, continuing a long-term decline from its previous market highs.