Radiant Capital (RDNT)

DEV with MM is so impressive!

When it was 'alive' we were already targeting it, now the project announces closure and then pumps sky‑high

The old trick is used again, yet it’s still effective

$RDNT https://t.co/6ugCqZMaGf

Radiant Capital is winding down 18 months after $50M hack

@RDNTCapital is shutting down, unable to recover from the roughly $50M exploit it suffered in October 2024. After 18 months of trying to rebuild, the DAO said it couldn't recover meaningful funds or raise fresh capital, and "no longer has a viable path forward."

The October 2024 attack hit Radiant's Arbitrum and BNB Chain deployments after an attacker deployed a backdoor contract for unauthorized access, draining ~$51M. It followed an earlier 2024 flash loan attack that took ~1,900 ETH (~$4.5M at the time).

The protocol now moves into a "maintenance state" - frontend and smart contracts stay live, so users can still withdraw, repay, and manage positions. Recovery efforts continue, and any retrieved funds will go back to those affected.

Radiant Capital to Start Gradual Shutdown After Inability to Recover From $50 Million Exploit.

While the broader shutdown process proceeds, the protocol will continue to operate in a limited capacity to allow users to withdraw funds, repay loans, and manage existing positions. At the same time, borrowing limits will be set to zero, and all RDNT incentive programs will be discontinued.

The decision follows the October 2024 security breach, which resulted in losses of over $50 million and left the protocol unable to regain long-term operational stability.