Radiant is a cross-chain lending protocol that operated on Arbitrum and other blockchains, governed by a decentralized autonomous organization (DAO). The protocol gained notable traction within the DeFi space prior to a devastating hack in October 2024 that compromised asset security and abruptly altered its trajectory.
In the aftermath, the Radiant community launched an intensive 18-month recovery effort. DAO members and the core team pursued multiple paths—technical fixes, asset recovery attempts, and community fundraising initiatives—all aimed at reviving the project and establishing a viable operating model. Despite these attempts, none yielded a concrete breakthrough.
A recent announcement laid bare the project's dire financial state: no stolen funds have been recovered, and no new capital injections—external or internal—have materialized. With its reserves depleted, Radiant can no longer cover routine operations, development, or security maintenance, making it impossible to uphold a responsible long-term commitment.
Facing these realities, the DAO has resolved to begin a phased "sunsetting" process. The project will orderly shut down services, assist users in withdrawing any remaining assets, and cease all operations once the process concludes. Radiant now joins the list of DeFi protocols that have permanently closed following a security incident—a stark reminder of the fragility projects face after major breaches.