Radiant Capital has shut down. A cross-chain lending protocol that once supported $3 billion in TVL struggled for 18 months after a $50 million hack, ultimately exiting due to unsuccessful fund recovery and lack of financing.

This is not an isolated incident. Since 2024, several DeFi lending protocols have halted operations due to security vulnerabilities or liquidity crises. Radiant’s collapse reflects deeper industry challenges: when the bull market recedes, security incidents are no longer "black swans" but become stress tests for a protocol’s survival.
The key is not the hack itself—DeFi has many examples of projects rebuilding after attacks. Radiant’s true death was: failure to attract new capital after the attack, depletion of the DAO treasury, and the team’s inability to sustain operations. This exposes the fragility of DeFi projects in a bear market—without ongoing cash flow and capital reserves, a single fatal blow can be the end.
For users, Radiant’s exit process preserved asset withdrawal channels, but the RDNT token’s value dropped to zero. This reminds the market: the "compound risk" of cross-chain lending is underestimated—vulnerabilities on one chain can affect the entire protocol’s liquidity pool, and insurance and recovery mechanisms are still immature.
Radiant’s shutdown is not the end. It accelerates the natural淘汰 of the DeFi industry: projects relying on TVL growth rather than real revenue, lacking security redundancies, will be phased out. For survivors, this is the starting point to rebuild trust—but only if they can prove they can withstand the next storm.
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