DeFi protocol Radiant Capital has announced that after the devastating hack in October 2024, its decentralized autonomous organization (DAO) has exhausted all viable paths and will gradually enter a “sunsetting” phase. The decision comes after 18 months of recovery efforts, during which the project could not recover stolen funds or attract new capital. With no operational runway left, the protocol’s services will progressively shut down until full termination.
In its official statement, Radiant confirmed that there has been no progress in fund recovery and no new capital injection. The absence of sufficient funds and development space has made it impossible to continue responsible long-term operations. Since the attack, the team attempted various recovery strategies, but the fundamental security breach proved too detrimental to overcome.
Radiant previously operated as a cross-chain lending protocol on networks such as Arbitrum and had garnered attention for its omnichain design. The announcement did not disclose a specific closing timeline or asset liquidation plan, and users are advised to monitor further notices to manage their positions accordingly.