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Radiant Capital has announced the gradual winding down of its operations after failing to recover from a $51 million hack.

2026.06.02 09:19:40

June 2: Decentralized Finance (DeFi) lending protocol Radiant Capital plans to gradually wind down its operations, the project announced, after failing to recover from a roughly $50 million 2024 exploit and secure new funding. The platform’s decentralized autonomous organization (DAO) says it no longer has a viable path forward. Over recent months, contributors and the community have kept supporting users, maintaining the protocol, and attempting to recoup stolen funds amid challenging conditions. But without successful fund recovery, new capital, or growth momentum, those efforts aren’t enough to keep the project afloat. Radiant suffered two major hacks last year: In October 2024, attackers exploited a backdoor contract to breach its deployments on Arbitrum and BNB Chain, resulting in roughly $51 million in losses. Earlier in 2024, a flash loan attack stole around 1,900 ether (ETH), valued at approximately $4.5 million at the time. Moving forward, Radiant will enter “maintenance mode,” where its frontend and smart contracts remain online. Users can still withdraw funds, repay loans, and manage their positions. The team will continue working to recover stolen assets, and any reclaimed funds will be returned to affected users.
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