Multi-chain lending protocol Radiant Capital stated that the hacking attack caused the protocol to generate bad debts of approximately 1.3% of the protocol TVL in the WETH market. The Radiant DAO committee suspended the lending market on Arbitrum and has developed a technical method to securely The suspension of the lending market on Arbitrum has been lifted, and the method is being reviewed by OpenZeppelin, independent Ethereum researchers, and white hat hackers.
Radiant emphasized that the protocol is solvent and will implement a bad debt recovery plan to fully recapitalize the protocol and allow users full access to their deposits. For users at risk of liquidation during the suspension period, proposed plans will also be implemented to ensure that no user is unfairly penalized.