Radiant Capital's RDNT token fell to $0.0015 as the protocol wound down after failing to recover from a $50M 2024 hack attributed to North Korea.
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Radiant Capital winds down to $2M TVL after 2024 North Korean hack
Radiant Capital's RDNT token fell to $0.0015 as the protocol wound down after failing to recover from a $50M 2024 hack attributed to North Korea.
"The DAO has been working diligently for 18 months, but due to the inability to achieve meaningful fund recovery, lack of additional funding, and depletion of operational funds, the project no longer has a viable path for further development," the Radiant team said.
The cross-chain lender's total value locked has collapsed to $2.21M across Arbitrum, Ethereum, Base, and BNB Chain, according to DefiLlama — down from more than $300M at its peak. RDNT's market capitalization stands at $1.96M, ranking 2,356th among all tokens, with daily volume of $288,000. Binance ended withdrawal support for RDNT on June 1, following earlier delistings by OKX in January 2025 and Crypto.com in July 2025, eliminating the token's last major centralized-exchange venues.
The October 2024 exploit, which Mandiant attributed to the North Korean state-backed group UNC4736, compromised Radiant's Pool Provider contract through a macOS backdoor delivered via Telegram five weeks earlier. The attack bypassed Tenderly simulation and Gnosis Safe UI verification, displaying legitimate transaction data while malicious signatures executed in the background. A 3-of-11 multisig configuration meant the attacker needed only three compromised devices. A subsequent reconfiguration to a 4-of-7 multisig failed to restore user trust as TVL continued to bleed.
The Radiant DAO spent 18 months cycling through depositor-recapitalization frameworks — a fractional-reserve structure, a merged-claim-contract approach, and a phased remediation plan — without delivering full reimbursement. First payouts slipped past their target dates as the protocol's working capital eroded alongside its TVL.
The wind-down halts all development, sets borrow caps to zero, and ends RDNT token incentives. The frontend and smart contracts will remain accessible for users to withdraw, repay, and manage positions. The claims portal stays open, and the team said any future recovery of stolen funds will be returned to affected users.
This article is for informational purposes only and does not constitute investment advice.
[1] DeFi protocol Radiant to wind down after failing to recover from 2024 hack[2] These companies are laying off employees in June[3] Radiant Capital Winds Down to a $2M Husk, 20 Months After DPRK-Linked $50M Heist - thedefiant.io[4] Radiant Capital has announced a phased wind-down of its operations, with the protocol entering maintenance mode. - Bitget
