DeFi Platform Radiant Capital Shutting Down Following $50,000,000 Hack

Radiant Capital (RDNT), a decentralized finance lending protocol, announced Monday it is shutting down, nearly two years after hackers drained $50 million from the platform in a sophisticated malware attack.

The protocol, which operated cross-chain lending across multiple networks, was compromised in October 2024 when attackers used a “highly advanced malware injection” to breach multiple developers’ hardware wallets.

The front-end of Safe {Wallet} displayed legitimate transaction data while poisoned transactions were executed in the background, with the breach occurring during a routine multi-signature emissions adjustment process.

According to Radiant Capital’s post-mortem:

“The devices were compromised in such a way that the front-end of Safe {Wallet} (f.k.a. Gnosis Safe) displayed legitimate transaction data while poisoned transactions were signed and executed in the background. This breach occurred during a routine multi-signature emissions adjustment process, which takes place periodically to adapt to market conditions and utilization rates.”

Radiant worked with US law enforcement and web3 security firm zeroShadow to attempt to freeze the stolen assets. The effort had limited success. Onchain data tracked by analytics firm Lookonchain showed the hacker converted the stolen funds into approximately 21,957 Ethereum (ETH), then began selling in August 2025 at an average price of $4,562 per coin, recording a 93.5% profit on the loot.

The native RDNT token was trading at $0.022 as of August 2025.