DeFi Platform Radiant Capital Shuts Down After $50M Hack in October 2024

Radiant Capital (RDNT), a cross-chain decentralized lending protocol, announced Monday it is shutting down nearly two years after attackers drained $50 million from the platform in October 2024 through a sophisticated malware injection attack. The hackers compromised developers' hardware wallets and manipulated Safe Wallet's front-end to display legitimate transactions while executing poisoned transactions in the background during a routine multi-signature emissions adjustment.

According to analytics firm Lookonchain, the attacker converted the stolen funds into approximately 21,957 Ethereum (ETH) and began selling in August 2025 at an average price of $4,562 per coin, realizing a 93.5% profit. Radiant Capital worked with U.S. law enforcement and web3 security firm zeroShadow to attempt asset recovery with limited success.