$50M Exploit Finally Forces Radiant Capital Shutdown After 18 Months of Recovery Efforts

Key Takeaways:

• Looking back on the past year, Radiant Capital is winding down DAO operations following an inability to recover from exploitation in October 2024 that cost it $50 million.
• The protocol will continue to be in maintenance mode and will have the ability to let users up loans, modify positions, or withdraw assets.
• With active development and RDNT emissions complete, and protocol expansions noted, a phase of user support and recovery has started.

The end of this long period of planning has seen the launch of an orderly shutdown at Radiant Capital, which has been attempting to revive the DeFi lending platform after one of its most serious exploits.

Radiant stated that it has not recovered from the devastating adversarial hacking attack on its protocol that looted over $50 million in October 2024, makin...