DeFi protocol Radiant to wind down after failing to recover from 2024 hack
Radiant Capital is winding down after failing to recover from a $50 million exploit by North Korea’s Lazarus Group in October 2024. The DAO said it could not recover stolen funds, raise new capital, or maintain a sustainable runway, so it has no viable path forward. Instead of fully shutting down, Radiant will move into a maintenance state: the frontend stays online, smart contracts remain accessible, and users can still withdraw, repay, and manage positions. The DAO will stop development, upgrades, and expansion. Radiant will keep its remediation portal open and return any recovered funds to affected users. The protocol, launched in 2022, had grown rapidly before the hack, but its total value locked collapsed from $75 million to about $5 million after the exploit. RDNT fell 4.2% following the announcement.
