The omnichain money market protocol Radiant Capital informed the cessation of its business operations. The decision was made after 18 months of intense efforts to recover from a devastating hack that drained approximately $50 million dollars in 2024. Through a statement on X, the DAO team confirmed that it was not possible to track the stolen funds or raise new investment capital.
— Radiant Capital (@RDNTCapital) June 1, 2026
This definitive collapse underscores the persistent vulnerability within the decentralized finance (DeFi) sector to smart contract exploits and flash loan attacks. The aggression suffered on the Arbitrum and BNB Chain networks through a backdoor contract paralyzed the growth of Radiant, an ecosystem that was already hit after losing 4.5 million dollars in Ethereum earlier that same year.
From now on, Radiant Capital will move to a strict state of technical maintenance. This means that the web interface and smart contracts will remain active indefinitely so that users can withdraw funds, pay debts, and manage risk positions safely.
Source: https://x.com/RDNTCapital/status/2061457987441447041
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