Radiant Capital enters wind-down after a $50M exploit, with TVL falling to $2.21M and market cap dropping under $2M.
Radiant Capital is transferring right into a wind-down part after months of failed restoration work following its October 2024 exploit.
The DAO mentioned it lacks recovered funds, new capital, and sufficient runway to maintain working responsibly, whereas its TVL has fallen to about $2.21 million.
Radiant Capital enters upkeep mode
Radiant Capital mentioned the DAO not has a workable path ahead after 18 months of restoration efforts.
The staff mentioned the October 2024 exploit left the protocol with out sufficient assist to proceed regular operations.
The cross-chain lending protocol as soon as held greater than $300 million in consumer deposits throughout its markets. Nonetheless, reported knowledge now locations its complete worth locked close to $2.21 million.
Radiant Capital has collapsed to $2.21M TVL and a sub-$2M market cap—20 months after a $50M DPRK-linked exploit. The cross-chain lender that when held $300M+ in deposits is now successfully wound down.https://t.co/yITXOVb71R
— The Defiant (@DefiantNews) June 1, 2026
Its market capitalization has additionally fallen under $2 million, primarily based on the figures shared in current studies.
The decline adopted the $50 million exploit, which has been described in studies as DPRK-linked.
Radiant mentioned the protocol is not going to shut down instantly, and customers can nonetheless entry core capabilities.
The frontend will stay stay, whereas good contracts will keep out there onchain for place administration.
Growth stops as danger controls change
The DAO mentioned energetic growth has stopped as a part of the wind-down course of. It additionally confirmed that there shall be no additional upgrades, expansions, or new product work.
Borrow caps have been set to zero, which limits new borrowing exercise throughout the protocol.
RDNT token emissions have additionally been discontinued as treasury use strikes towards important operations.
https://t.co/0XDgQWgVXO
— Radiant Capital (@RDNTCapital) June 1, 2026
Radiant mentioned its focus will now shift towards consumer security, restoration work, and an orderly exit course of. Customers have been requested to handle danger and scale back publicity the place wanted.
The protocol mentioned contributors and neighborhood members continued working underneath tough circumstances after the exploit. Nonetheless, the DAO mentioned effort was not sufficient with out recovered funds, capital, or progress.
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Restoration efforts proceed throughout wind-down
Radiant mentioned the transfer into upkeep mode doesn’t finish the restoration course of for affected customers.
The remediation portal will stay open, and any recovered funds shall be returned.
Forensic monitoring and restoration work will proceed, though the DAO mentioned outcomes stay unsure.
Restoration from main crypto exploits can take time, and outcomes could depend upon a number of processes.
The protocol will maintain decreased assist throughout its channels whereas customers exit or handle open positions.
Radiant mentioned the remaining system contains immutable Onchain infrastructure and accessible contracts.
The DAO thanked contributors, customers, and supporters who remained throughout the tough interval after the hack.
It mentioned the choice adopted the lack of working circumstances wanted to proceed responsibly.