Radiant Capital is shutting down operations 18 months after a $50M exploit in October 2024; users advised to withdraw funds immediately.
Security & Exploits ·
Radiant Capital announced it is sunsetting operations following an October 2024 exploit that resulted in a $50M loss. The lending protocol has been unable to recover the stolen funds or secure financing to continue, according to the announcement made on the platform's official account.
The wind-down comes after 18 months of recovery efforts since the exploit. Users holding funds on Radiant have been urged to withdraw their assets immediately as the platform moves toward closure.
It remains unclear what timeline the shutdown will follow, what mechanisms will govern user withdrawals during the wind-down period, or whether affected users might recover any portion of losses from the original exploit through alternative means.