Radiant Capital said its DAO (blockchain-based governance group) will begin a gradual shutdown after the protocol failed to recover from the October 2024 hack, secure new funding, or restart growth.
Radiant Capital announced that its DAO (blockchain-based governance group) will begin a gradual wind-down after the protocol was unable to recover from a $50 million exploit in October 2024. The project said it also failed to secure new financing and could not restore growth, leaving an orderly shutdown as the next step. In crypto markets, an exploit typically refers to an attack that abuses a weakness in smart contracts (self-executing blockchain code) or protocol design, and such losses can sharply reduce user confidence, liquidity, and development momentum.