Radiant to wind down after failing to recover from 2024 hack

Radiant Capital will begin winding down after failing to establish a "viable path forward" following a $50 million exploit by North Korea in October 2024. The protocol's decentralized autonomous organization cited its inability to recover the stolen funds, secure new capital and maintain a runway to continue operating responsibly.

Launched in 2022 to bring liquidity across multiple blockchains, Radiant's total value locked reached $386.8 million in December 2023. The Lazarus Group's October 2024 exploit pushed TVL down to $75 million and then to $5 million within the month, a collapse the protocol never recovered from.

Instead of fully shutting down, Radiant will move into a maintenance state: its frontend will remain online, smart contracts will stay accessible, and users will still be able to withdraw, repay and manage positions. The DAO will no longer contribute to development, upgrades or expansions, and users are encouraged to actively manage risk and reduce exposure.

North Korea

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