Radiant, this round is basically a DeFi security “textbook” negative case: a backdoor contract plus a flash-loan combo. They couldn’t recover for 18 months. Now they’re just surviving in maintenance mode—if withdrawals are still possible, then I guess they haven’t gone fully cold-hearted yet.

Radiant Capital will officially cease operations. The protocol was hacked in October 2024, resulting in a loss of approximately $51 million. The attacker gained unauthorized access through a backdoor contract on Arbitrum and BNB Chain; earlier in the year, it also suffered a flash loan attack, losing about 1,900 ETH. After 18 months of recovery attempts without success, the DAO has no way forward. It is now in maintenance mode; the frontend and contracts are still accessible, and users can still withdraw, repay, and manage positions. If funds are recovered in the future, affected users will be reimbursed.