Radiant Protocol to Enter Maintenance Mode Following 2024 Hack Impact
DeFi protocol Radiant to wind down after failing to recover from 2024 hack

Image: Cointelegraph
Radiant, a decentralized finance (DeFi) protocol launched in 2022, will transition to a maintenance state after failing to recover from a hack by North Korea's Lazarus Group in October 2024. Once valued at $386.8 million, its total value locked plummeted to $5 million, leading to the decision to halt further development.
- 01Radiant's total value locked peaked at $386.8 million in December 2023 before a significant decline.
- 02The hack by North Korea's Lazarus Group in October 2024 caused Radiant's TVL to drop from $75 million to $5 million within a month.
- 03Radiant will maintain its frontend and smart contracts but will cease all development and upgrades.
- 04Users are advised to manage their risks and reduce exposure as the protocol enters a maintenance state.
- 05The Radiant Capital (RDNT) token has fallen 4.2% following the announcement, trading at a fraction of its all-time high of 58 cents.
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Radiant, a decentralized finance (DeFi) protocol established in 2022, aimed to unify liquidity across multiple blockchains. It experienced rapid growth, reaching a total value locked (TVL) of $386.8 million in December 2023. However, the protocol faced a severe setback when North Korea's Lazarus Group exploited it in October 2024. Following this breach, Radiant's TVL plummeted to $75 million, eventually collapsing to just $5 million within a month. In response, Radiant announced it would not fully shut down but instead enter a 'maintenance state.' This means its frontend will remain operational, allowing users to withdraw and manage their positions, but the decentralized autonomous organization will halt all development and upgrades. Users are encouraged to actively manage their risks during this transition. Additionally, the Radiant Capital (RDNT) token saw a 4.2% decline after the announcement, currently trading significantly below its peak of 58 cents from September 2022. Radiant will keep its remediation portal open to recover and return funds to affected users.
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The winding down of Radiant will affect users who have invested in the protocol and may lead to financial losses.
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