Cross-Chain Lender Radiant Capital Halts Development as TVL Plunges 87% From Peak

Radiant Capital is a decentralized lending protocol that supports multiple blockchains, focusing on cross-chain borrowing, lending and liquidity integration. North Korean hackers attacked the protocol in October 2024, stealing about $50 million in assets that were never recovered. The breach severely damaged user confidence and highlighted the governance and recovery challenges DeFi projects face after major security incidents.

Radiant Capital recently announced that it would stop developing new features and move the protocol into maintenance mode, with the team handling only the basic operational and security needs of its existing systems. Total value locked, or TVL, has fallen to about $5 million. An 87% decline implies a previous level of roughly $38.5 million, indicating that funds have continued to leave since the 2024 attack.