Radiant Capital winds down DAO after $50M 2024 hack

On June 1, 2026, Radiant Capital announced it is winding down its decentralized autonomous organization after 18 months of unsuccessful efforts to recover more than $50 million taken in an October 2024 exploit. The protocol’s smart contracts will remain live so users can withdraw funds and manage positions.

The DAO began an orderly wind-down after remediation work with security firm zeroShadow failed to recover the funds. Security alerts at the time described the October exploit as a private key compromise that allowed a malicious actor to control multi-signature wallets and drain assets. The October incident followed a January 2024 flash loan attack that removed about 1,900 ETH and forced the protocol to use treasury funds to cover communal bad debt, reducing its reserves.

Radiant said new capital did not materialize during the recovery period; no strategic investors, allocators or ecosystem grants stepped in to extend the protocol’s runway. The DAO reported declines in user activity and revenue and stopped active development to focus on user safety and ongoing recovery work.

Operational changes take effect immediately. Borrowing has been disabled across Core and RIZv1 markets, RDNT token emissions have been shut off, and treasury spending will be limited to essential operations. The project’s front-end will remain online through the end of the year. Community channels on Discord, Telegram and X will stay open for support, though responses are expected to be slower and contributors will limit direct intervention.

Users retain control of on-chain assets. Radiant noted its contracts are immutable and accessible on-chain, enabling account holders to withdraw funds, repay loans, close lending positions, claim rewards and unlock DLP tokens without centralized action. The remediation portal will remain online, and zeroShadow will continue recovery efforts within available resources. Any funds recovered in the future will be distributed directly to users affected by the October 2024 exploit.

Market reaction was immediate. The RDNT token fell about 4.4% after the announcement to trade near $0.001444, a decline of roughly 99.1% from its September 2022 high of $0.5853.

Radiant framed the wind-down as an example for the sector, noting that investors are placing greater weight on security, predictable behavior under stress, risk isolation and clear recovery plans when allocating capital to protocols.