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Popular crypto platform shuts down after $50 million hack
Key takeaways
- Its cross-chain lending across multiple networks made it immensely popular among users.
- The protocol grew quickly during 2023 but got exploited for $50 million in October 2024.
- It has been more than a year and a half since the exploit and the protocol has been unable to recover from the shocking incident and is shutting down, Radiant Capital announced on June 1.
Popular crypto platform shuts down after $50 million hack The Street · Getty Images Anand Sinha Wed, June 3, 2026 at 12:51 AM GMT+7 1 min read ZRO26997-USD Launched in 2022, Radiant Capital is a major decentralized finance (De Fi) protocol built on Layer Zero. Its cross-chain lending across multiple networks made it immensely popular among users.
The protocol grew quickly during 2023 but got exploited for $50 million in October 2024. Following the incident, the total value locked (TVL) on the platform fell to approximately $75 million.
It has been more than a year and a half since the exploit and the protocol has been unable to recover from the shocking incident and is shutting down, Radiant Capital announced on June 1.
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