Radiant Capital to Wind Down Operations After $50 Million Exploit
- Operational Halt: Radiant Capital announced plans to wind down operations after failing to recover from a $50 million exploit, with the protocol remaining online for users to withdraw funds and manage positions, yet development work will cease, highlighting severe funding and resource shortages.
- Severe Financial Loss: Following the October 2024 attack, Radiant's total value locked plummeted from $386.8 million to approximately $5 million, reflecting a significant crisis in security and market trust that has hindered new investment attraction.
- Impact of Cyber Attack: Investigations linked the attack to North Korean threat actors, with hackers distributing malware via Telegram that compromised Radiant's multisig permissions, ultimately stealing around $53 million, exacerbating concerns about the protocol's sustainability.
- Negative Market Reaction: Following the wind-down announcement, Radiant's RDNT token fell by 4.2%, indicating a pessimistic outlook from investors regarding its future prospects, reflecting the crypto market's heightened sensitivity to security and transparency issues.
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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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