Radiant Capital Winds Down After $50M Attack

Radiant Capital, a decentralized finance lending protocol, announced on Monday that it will wind down operations after failing to recover from a major security breach and secure new funding. The protocol, which launched in 2022 to unify liquidity across multiple blockchains, was exploited for approximately 50 million in October 2024 in an attack attributed to North Korea-linked threat actors.

In a statement, the project's decentralized autonomous organization said it could no longer identify a viable path forward after unsuccessful attempts to recover the stolen assets, raise fresh capital, and maintain the resources needed to operate responsibly. The organization stated that without recovered funds, new investment, or renewed growth, the protocol could not remain sustainable. Contributors and community members had continued supporting the platform under increasingly challenging circumstances, but these efforts were insufficient.

The protocol will not disappear entirely but will transition into a maintenance state. Under this arrangement, the frontend will remain online, smart contracts will stay accessible, and users will be able to withdraw assets, repay loans, and manage...