{"id":24084,"date":"2026-06-02T11:29:24","date_gmt":"2026-06-02T11:29:24","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2026\/06\/02\/radiant-capital-to-wind-down-operations-after-failing-to-recover-from-50-million-hack-nft-plazas\/"},"modified":"2026-06-02T11:29:24","modified_gmt":"2026-06-02T11:29:24","slug":"radiant-capital-to-wind-down-operations-after-failing-to-recover-from-50-million-hack-nft-plazas","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2026\/06\/02\/radiant-capital-to-wind-down-operations-after-failing-to-recover-from-50-million-hack-nft-plazas\/","title":{"rendered":"Radiant Capital to Wind Down Operations After Failing to Recover From $50 Million Hack – NFT Plazas"},"content":{"rendered":"

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Radiant Capital<\/span><\/a>, once one of the largest cross-chain lending platforms in decentralized finance (DeFi), has announced plans to wind down operations after failing to recover from a devastating exploit that drained more than $50 million from the protocol in October 2024.<\/span><\/p>\n

In a recent community update, Radiant\u2019s decentralized autonomous organization (DAO) said it could no longer identify a viable path forward after months of attempts to recover stolen assets, attract new funding, and restore user activity. The decision comes roughly 18 months after the attack that fundamentally altered the protocol\u2019s trajectory.<\/span><\/p>\n

From DeFi Growth to Rapid Decline<\/span><\/h2>\n

Launched in 2022, Radiant Capital aimed to unify liquidity across multiple blockchains, allowing users to borrow and lend assets across networks through a single platform. The protocol gained significant traction during 2023 and became one of the leading lending projects in the DeFi sector.<\/span><\/p>\n

At its peak, Radiant\u2019s total value locked (TVL) reached approximately $386.8 million in December 2023, according to protocol data. However, that momentum came to a halt following a major security breach in October 2024.<\/span><\/p>\n

The exploit resulted in the loss of more than $50 million worth of crypto assets from Radiant\u2019s deployments on Arbitrum and BNB Chain. User confidence quickly deteriorated, liquidity exited the protocol, and TVL fell sharply in the months that followed.<\/span><\/p>\n

Despite efforts to stabilize operations and rebuild trust, the platform was unable to regain its previous position in the market.<\/span><\/p>\n

Protocol Data (Source: <\/span><\/i>DefilLama<\/span><\/i><\/a>)<\/span><\/i><\/p>\n

DAO Concludes Recovery Is No Longer Sustainable<\/span><\/h2>\n

According to Radiant\u2019s latest statement, contributors explored multiple recovery strategies, including asset recovery efforts, funding discussions with potential backers, and broader initiatives aimed at restarting protocol growth.<\/span><\/p>\n

Those efforts ultimately failed to generate the resources necessary for long-term sustainability.<\/span><\/p>\n

The DAO stated that without meaningful recovery of stolen funds, fresh investment, or a return in protocol activity, continuing to operate as a full-scale DeFi lending platform was no longer realistic. As a result, governance participants voted to begin a gradual wind-down process.<\/span><\/p>\n

Protocol Will Remain Online<\/span><\/h2>\n

Radiant emphasized that the protocol is not shutting down immediately. Instead, it will enter what the team describes as a maintenance mode.<\/span><\/p>\n

Under this structure, users will continue to have access to core protocol functions, including:<\/span><\/p>\n