Radiant Capital to Shut After $50M Lazarus Hack; RDNT Drops
Radiant Capital plans to gradually shut down its DeFi lending market after a $50M attack in October 2024 linked to the Lazarus Group. The protocol said it cannot recover stolen assets or raise new capital, and the closure plan was approved by its DAO.
Radiant Capital will not fully decommission. Users can still access the frontend and smart contracts to withdraw, repay loans, and manage existing positions. However, the DAO will stop development, upgrades, and future expansion.
After the exploit, Radiant Capital’s TVL collapsed from about $75M to ~$5M within the same month and never recovered. Its remediation portal remains open, and any returned funds will be distributed to affected users.
Market reaction: RDNT fell around 4.2% on the shutdown news. Traders should treat this as a lending-risk warning: payout and liquidity conditions are still uncertain near term, and exposure management matters for current borrowers and lenders in similar protocols.
Bearish
The shutdown plan and the inability to recover the $50M stolen in the Lazarus-linked hack reinforce immediate credit/liquidity concerns around the Radiant Capital lending market. RDNT already reacted negatively (about -4.2%), suggesting traders expect weaker token demand and uncertainty over eventual repayments/settlements. While smart contracts remain usable for withdrawals and repayments, the DAO stopping upgrades and expansion reduces longer-term growth prospects, keeping sentiment pressured. Net effect on RDNT’s price is bearish in the near term, with ongoing settlement visibility likely driving volatility.