Protocol de prêt inter-chaînes Radiant annonce sa fermeture : vol de 5 millions de dollars par la Corée du Nord, TVL évaporé de 87 %

Cross-chain lending protocol Radiant Capital announces it has ceased development and entered maintenance mode, after being robbed of 50 million USD by North Korean Lazarus Group in 2024, causing TVL to plummet from 3.87 million USD to 500,000 USD, a decline of only 13%.
(Background summary: Cross-chain lending protocol Radiant can no longer sustain itself! Hacked for 5 million USD, it announced a "full stop" on development.)
(Additional context: Kelp DAO announced rsETH fully restored: 293 million USD stolen by North Korean hackers 5 weeks ago.)

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• From 3.87 million USD to 500,000 USD: TVL evaporates 87%
• Not shutting down completely, but no longer developing
• The hidden concern of "passive aging" in DeFi
• Liquidity in cross-chain lending protocols usually comes from multiple source chains. When assets on the main chain are stolen, liquidity on other chains may also shrink simultaneously, creating an illusion of "apparent liquidity but already a shell." Taiwanese users should regularly check protocol TVL trends and recent attack signs beyond just focusing on annualized yields when using cross-chain DeFi.

Radiant Capital, a cross-chain lending protocol, announced on Monday that it will cease development and switch to "maintenance mode," marking the official end of the 2024 cross-chain lending battle in which North Korean Lazarus Group stole 50 million USD.

Radiant stated in its official Medium post that the inability to recover stolen funds, lack of new capital injections, and the ongoing funding runway needed to sustain operations forced the decision. The company also added on X that the community and contributors have maintained the protocol under increasingly difficult conditions, but "without revival, capital, or growth," it is no longer sustainable.

From 3.87 million USD to 500,000 USD: TVL evaporates 87%

Radiant launched in 2022 with the goal of creating a single platform aggregating liquidity across multiple blockchains. It expanded rapidly in 2023, with DeFiLlama data showing its TVL peaked at 3.87 million USD in December of that year. After being hacked for 50 million USD by North Korean Lazarus Group in October 2024, TVL sharply dropped to 7.5 million USD, then within a month further declined to 500,000 USD, an 87% decrease.

Not shutting down completely, but no longer developing

Radiant has not fully closed. The protocol frontend and smart contracts remain open; users can still withdraw, repay, and manage positions. However, the DAO will no longer develop, upgrade, or add features. The official advice is for users to "actively manage risks and reduce exposure."

Additionally, Radiant will keep the compensation portal open, continue recovery efforts, and return recovered funds to affected users.

The hidden concern of "passive aging" in DeFi

Radiant’s shutdown reveals another hidden risk in DeFi protocols: even without major incidents, protocols lacking ongoing developer maintenance will enter a state of "passive aging." While smart contracts can continue to operate, they won’t fix new bugs, won’t follow chain upgrades, and won’t implement competitive yield strategies, ultimately leading to market marginalization.

OpenZeppelin co-founder previously warned that "all DeFi is unsafe," and AI-driven theft methods are growing exponentially. The 50 million USD stolen from Radiant is just the tip of the iceberg. Without continuous security budgets and developer mechanisms, similar "quiet shutdowns" like Radiant’s could become the norm.

Liquidity in cross-chain lending protocols usually comes from multiple source chains. When assets on the main chain are stolen, liquidity on other chains may also shrink simultaneously, creating an illusion of "apparent liquidity but already a shell." Taiwanese users should regularly check protocol TVL trends and recent attack signs beyond just focusing on annualized yields when using cross-chain DeFi.