Theblock.Co Radiant Capital Winding Down After $50M Hack Linked to North Korean Group
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- •Radiant Capital lost $50 million in an October 2024 hack linked to North Korean hackers.
- •The protocol's total value locked has dropped to $2.21 million from a peak of $386.8 million.
- •Radiant Capital will enter a maintenance phase, allowing withdrawals but halting development.
Radiant Capital, a decentralized lending protocol, is winding down operations after failing to recover from a $50 million hack attributed to a North Korean state-sponsored group, the Lazarus Group. The exploit occurred in October 2024, leading to a drastic decline in total value locked (TVL) from approximately $386.8 million to just $2.21 million by June 2026. Despite efforts to recover funds and maintain operations, the DAO announced it could not secure fresh funding or user growth. The protocol will enter a maintenance phase, allowing users to withdraw assets while halting further development. The RDNT token has plummeted from a peak of $0.58 in September 2022 to around $0.0015. The attack utilized a backdoor contract to compromise the system, marking it as a significant incident in the DeFi space.
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