Radiant Capital Winds Down After $50 Million Hack, Unable to Recover in 18 Months

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According to its official announcement, Radiant Capital announced on Monday it is closing operations, unable to recover meaningful funds from a roughly $50 million hack that occurred in October 2024. The omnichain lending protocol said it also failed to raise fresh capital, leaving the DAO without a viable path forward. The protocol will transition to a maintenance state, allowing users to withdraw and manage positions. Recovery efforts continue, and any retrieved funds will be returned to affected users.
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