Radiant, a decentralized finance protocol that lets users lend and borrow cryptocurrencies, is winding down operations. The move comes after the project failed to recover from a security breach in 2024. The protocol's frontend and smart contracts will remain accessible, allowing users to withdraw funds, repay loans, and manage existing positions.
The 2024 breach that ended recovery hopes
Radiant suffered a security breach in 2024. The protocol could not recover from the incident, and that failure led to the wind-down decision. The frontend and smart contracts stay live so that users can exit their positions without being locked out. No further details about the breach or its scale have been disclosed.
What users can still do
The frontend interface is still up. The smart contracts are still processing. That means users can pull out their deposited crypto, pay back any loans they took out, and adjust their current lending or borrowing positions. All those actions remain available through the frontend and smart contracts.
The wind-down in practice
Radiant is no longer accepting new deposits or issuing new loans. It's purely in exit mode. The frontend and smart contracts are being kept running so everyone has a chance to close out their involvement. For now, the ability to withdraw, repay, and manage positions is still there. The protocol has not set a fixed deadline for when these functions will be turned off.
