Radiant Capital has announced a phased shutdown of its operations following unsuccessful recovery efforts after a hack in October 2024. The decentralized autonomous organization (DAO) cited the inability to recover funds and a lack of new capital as reasons for the decision. While the protocol's frontend and on-chain contracts will remain operational for withdrawals and position management, no further upgrades or expansions will occur. The lending limit has been set to zero, and RDNT token incentives have been halted. Vault funds will be allocated solely for essential operations. The team will prioritize user security, fund recovery, and the orderly liquidation of the protocol. A recovery portal and on-chain tracking will continue, with any recovered assets being returned to affected users as planned.
Radiant Capital Initiates Phased Shutdown After Failed Recovery Efforts
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