Radiant Capital to Wind Down After $50 Million Exploit Stalls Recovery

According to Radiant Capital DAO, the protocol is entering an orderly wind-down after the October 2024 hack, with user withdrawals and repayments still available while incentives end and lending caps fall to zero.

24d ago

Fact Check

The official @RDNTCapital announcement on June 1, 2026 and concurrent reporting by The Block, Odaily, and PANews all confirm Radiant Capital is entering an orderly wind-down after failing to recover from the October 2024 hack. The specific operational details in the claim — withdrawals/repayments still available, incentives ending, lending caps falling to zero — match the official statement and news summaries verbatim. The ~$50M loss figure is corroborated by The Block and the Nexus Mutual incident report referencing the October 2024 Radiant Capital exploit.

Summary

Radiant Capital announced that its DAO will begin an orderly wind-down after failing to recover from the October 2024 exploit, reported as a $50 million loss in the older topic and $51 million in the newer topic. According to the project, recovery efforts over roughly 18 months did not restore growth, and the protocol was also unable to secure new financing. Front-end access and onchain contracts remain available so users can withdraw funds, repay loans, and manage positions, while RDNT incentives will end and lending caps will be set to zero. Radiant added that asset recovery efforts are still underway and any recovered funds will be returned to affected users.

Terms & Concepts

DAO: A decentralized autonomous organization, or blockchain-based governance group, that uses token-holder voting to make decisions.
Exploit: An attack that takes advantage of a vulnerability in code, protocol design, or operations to steal funds or disrupt a crypto platform.
RDNT incentives: Incentive rewards paid in Radiant’s RDNT token to encourage participation in the protocol.