DeFi Lending Protocol Radiant Capital Winds Down After $50 Million Hack

DeFi lending protocol Radiant Capital has made the decision to wind down its operations after failing to recover from a $50 million hack attributed to North Korea's Lazarus Group in October 2024.

The project had been expanding rapidly since its inception in 2022, reaching a peak total value locked of $386.8 million in December 2023. However, the hack led to a significant decline in user trust and capital availability, making it difficult for Radiant Capital to secure new capital or maintain a viable runway.

Radiant Capital will enter a maintenance state, allowing users to withdraw and manage their positions. The project's decentralized governance body will cease contributing to ongoing development, effectively ending the active life of the protocol.