Radiant Capital Announces Shutdown After $50 Million Hack
- Shutdown Decision: Radiant Capital's DAO has decided to wind down the protocol after determining there is no viable path forward, marking the end of a prolonged recovery effort following the $50 million exploit in October 2024.
- Transition to Maintenance: Instead of a complete shutdown, Radiant will enter a maintenance state where the frontend remains live, allowing users to withdraw funds and manage loans, although borrowing caps will be set to zero, $RDN emissions will cease, and active development will end.
- Background of the Hack: On October 16, 2024, North Korean hackers executed an attack that drained approximately $50 million by infecting developers' devices with malware, using a decoy Telegram message and malicious PDF to establish a backdoor.
- Significant Market Impact: Radiant's total value locked plummeted from over $300 million at the end of 2023 to around $5.81 million by early December 2024, highlighting the severe operational and financial damage a single state-sponsored attack can inflict on a DeFi protocol.
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Technical Analysis for RDNT
Technical Sentiment Analysis for Radiant Capital (RDNT). As of , Radiant Capital (RDNT) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 5 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for RDNT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, RDNT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Radiant Capital (RDNT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000577 | 0.000858 | 0.00117 | 0.00145 | 0.00176 | 0.00204 | 0.00235 |
| Fibonacci | 0.000858 | 0.00108 | 0.00122 | 0.00145 | 0.00168 | 0.00181 | 0.00204 |
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