Track market-moving stories before they get noisy

$6 Million Vault Exploit Forces DeFi Platform Summer.fi to Wind Down

Drift Protocol, the decentralized exchange (DEX) that lost an estimated $280 million in an exploit last week, claims the loss was the result of a six-month, highly coordinated attack.

“The preliminary investigation shows that Drift experienced a structured intelligence operation requiring organizational backing, significant resources, and months of deliberate preparation,” Drift said in an X post on Saturday.

Attack began at a “major crypto conference”According to Drift, the attack can be traced back to around October 2025, when malicious actors posing as a quantitative trading firm first approached Drift contributors at a “major crypto conference,” claiming to be interested in integrating with the protocol.

Source: Drift Protocol

The group continued to engage contributors in person at multiple industry events over a six-month period. “It is now understood that this appears to be a targeted approach, where individuals from this group continued to deliberately seek out and engage specific Drift contributors,” Drift said.

“They were technically fluent, had verifiable professional backgrounds, and were familiar with how Drift operated,” Drift said.

After gaining trust and access to Drift Protocol over six months, they used shared malicious links and tools to compromise contributors’ devices, execute the exploit, and then wiped their presence immediately after the attack.

The incident serves as a reminder for crypto industry participants to remain cautious and skeptical, even during in-person interactions, as crypto conferences can be prime targets for sophisticated threat actors.

Drift flags a high probability of a Radiant Capital hack linkDrift said, with “medium-high confidence,” that the exploit was carried out by the same actors behind the October 2024 Radiant Capital hack.

In December 2024, Radiant Capital said the exploit was carried out through malware sent via Telegram from a North Korea-aligned hacker posing as an ex-contractor.

Source: Dith

“This ZIP file, when shared for feedback among other developers, ultimately delivered malware that facilitated the subsequent intrusion,” Radiant Capital said.

Drift said that the individuals who appeared in person “were not North Korean nationals.”

“DPRK threat actors operating at this level are known to deploy third-party intermediaries to conduct face-to-face relationship-building,” Drift said.

Drift said that it is working with law enforcement and others in the crypto industry to “build a complete picture of what happened during the April 1st attack.”

Magazine: Bitcoin 85% crashes ‘done,’ CLARITY Act speculation mounts: Hodler’s Digest, Mar. 29 – April 4

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RDNT: Sunsetting Radiant Capital DAO: 
Entering Recovery Phase 
and Lessons for the Future of DeFi

After spending 18 months trying to get back on track, Radiant Capital said Monday it is calling it quits, unable to recover from a roughly $50 million hack.

Radiant Capital said it hasn't been able to recover a meaningful amount of funds since the 2024 exploit or raise fresh capital, so it plans to close operations, the firm said in an X post.

"The DAO no longer has a viable path forward," Radiant said. "Over the past months, contributors and the community continued to operate under increasingly difficult conditions, working to support users, maintain the protocol, and pursue recovery. That effort was real. And it was consistent. But effort alone is not enough without recovery, capital, or growth."

Back in October 2024, the omnichain money market Radiant Capital suffered an exploit on its Arbitrum and BNB Chain instances after an attacker deployed a backdoor contract to gain unauthorized access, Arkham Intelligence said at the time. 

"Radiant capital has fallen victim to a hack causing $51 million in losses so far across Arbitrum and BNB chain," a security researcher told The Block in 2024. "The Ethereum and Base deployments seem to be secure but we would warn anyone to be careful interacting with these contracts at this time."

That attack came a few months after a flash loan attack that drained around 1900 ETH, worth $4.5 million at the time, from the Radiant protocol in early 2024.

Now, Radiant will transition into a "maintenance state" where the frontend and smart contracts remain live and accessible. "Users can withdraw, repay, and manage positions," Radiant said, adding that recovery efforts continue. If any funds are retrieved, they will be returned to those affected, Radiant said.

Exploits continue to be a problem across crypto. Recently, DeFi Llama said the number of crypto hacks rose to a record monthly high in April. While the cumulative dollar amount of funds stolen didn't set any new records, the total number of exploits in April easily exceeded 20 for what looks like the first time ever, DeFi Llama said.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Binance Delisting Wipeout: 6 Altcoins Crash After Exchange Pulls the Plug

Hacker at Radiant Capital Moves 5,400 ETH to Tornado Cash, Reports PeckShield

Rubio: US and Iran to continue technical consultations at the end of this month

Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)

6 hours ago

Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.

According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.

6 hours ago

Bitcoin falls below $60,000

According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.

6 hours ago

US Treasury Secretary: AI boom may boost productivity and help curb inflation.

US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.

6 hours ago

US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.

According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.

6 hours ago

During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.

According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.

6 hours ago

PANews reported on June 1st that, according to an official announcement from Radiant Capital, after 18 months of efforts following a hack in October 2024, Radiant Capital DAO has decided to enter an orderly exit phase due to its inability to effectively recover funds and lack of new capital and operating funds, rendering it unsustainable. The protocol frontend and on-chain contracts will remain open, allowing users to still withdraw, repay, and manage positions, but there will be no further feature iterations, upgrades, or expansions. The lending limit will be zeroed, RDNT token incentives will cease, and vault funds will only be used for essential operations. The team will shift its focus to user security, fund recovery, and the orderly liquidation of the protocol. The recovery portal and on-chain tracking will continue, and any recovered assets will be returned to affected users as planned.

Rubio: US and Iran to continue technical consultations at the end of this month

Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)

6 hours ago

Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.

According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.

6 hours ago

Bitcoin falls below $60,000

According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.

6 hours ago

US Treasury Secretary: AI boom may boost productivity and help curb inflation.

US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.

6 hours ago

US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.

According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.

6 hours ago

During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.

According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.

6 hours ago

Radiant Capital has announced plans to wind down operations after failing to recover from a $50 million exploit that devastated the lending protocol and left it without sufficient funding to continue.

Summary

Radiant Capital said it will wind down operations after failing to recover from a $50 million exploit and secure new funding. The protocol will remain online in a maintenance state, allowing users to withdraw funds and manage positions while development work ends. Investigations linked the 2024 attack to North Korea-aligned threat actors, while recovery efforts were hindered after portions of the stolen funds moved through Tornado Cash. According to a statement published Monday by Radiant’s decentralized autonomous organization, the protocol could no longer identify a viable route forward after unsuccessful attempts to recover stolen assets, raise fresh capital, and maintain the resources needed to operate responsibly.

In a separate update shared on X, the DAO said contributors and community members had continued supporting the platform under increasingly challenging circumstances. The organization stated that without recovered funds, new investment, or renewed growth, the protocol could not remain sustainable.

The decision closes a difficult chapter for a project that once ranked among the largest cross-chain lending platforms. 

Launched in 2022, Radiant sought to unify liquidity across multiple blockchains and grew rapidly during 2023. Data from the protocol shows its total value locked reached $386.8 million in December 2023.

Fortunes changed sharply after an October 2024 exploit that security researchers and later investigations linked to North Korean threat actors. Following the breach, Radiant’s total value locked fell to roughly $75 million and dropped to about $5 million within weeks, according to protocol data.

Recovery efforts failed to restore the protocol While operations are being scaled back, Radiant said the protocol will not disappear entirely. Instead, it will move into what it described as a maintenance state.

Under that arrangement, the frontend will remain online, smart contracts will stay accessible, and users will still be able to withdraw assets, repay loans, and manage existing positions. Development work, protocol upgrades, and expansion efforts, however, will cease as DAO contributors step away from active operations.

Radiant also urged users to manage their exposure carefully while the protocol enters its final phase.

Remaining recovery initiatives connected to the hack will continue. The DAO said its remediation portal will stay open and any assets recovered in the future will be returned to affected users.

Previous recovery efforts have produced limited results. In October 2025, blockchain security firm CertiK reported that wallets linked to the attacker deposited 2,834 ETH into Tornado Cash after moving funds through multiple addresses and swaps involving DAI. 

CertiK estimated that approximately $10.8 million worth of Ethereum had already been laundered through the mixer, complicating efforts to trace and recover the stolen assets.

North Korea-linked attack became a turning point Radiant said in December 2024 that an attacker posing as a former contractor distributed malware through Telegram. According to the protocol, a malicious ZIP file circulated among developers for feedback, creating an entry point that ultimately led to the compromise.

A post-mortem investigation from cybersecurity firm Mandiant later linked the incident to the AppleJeus hacking group, which it identified as part of North Korea’s cyber ecosystem. 

According to Mandiant, the attackers gained control of three of Radiant’s eleven multisig signer permissions and replaced the lending pool’s implementation contract, allowing them to steal approximately $53 million from the Arbitrum and BNB Chain deployments.

The tactics used in the attack later surfaced in other major crypto incidents. In April 2026, Drift Protocol said it had medium-high confidence that the same actors behind the Radiant breach were responsible for a separate exploit against its platform. Drift’s investigation concluded that the group spent months building trust with contributors through conference meetings and professional contacts before deploying malicious tools and links.

Market reaction to Radiant’s closure announcement remained negative. The protocol’s RDNT token fell 4.2% after the news.

Radiant Capital (RDNT), a decentralized finance lending protocol, announced Monday it is shutting down, nearly two years after hackers drained $50 million from the platform in a sophisticated malware attack.

The protocol, which operated cross-chain lending across multiple networks, was compromised in October 2024 when attackers used a “highly advanced malware injection” to breach multiple developers’ hardware wallets.

The front-end of Safe {Wallet} displayed legitimate transaction data while poisoned transactions were executed in the background, with the breach occurring during a routine multi-signature emissions adjustment process.

According to Radiant Capital’s post-mortem:

“The devices were compromised in such a way that the front-end of Safe {Wallet} (f.k.a. Gnosis Safe) displayed legitimate transaction data while poisoned transactions were signed and executed in the background. This breach occurred during a routine multi-signature emissions adjustment process, which takes place periodically to adapt to market conditions and utilization rates.”

Radiant worked with US law enforcement and web3 security firm zeroShadow to attempt to freeze the stolen assets. The effort had limited success. Onchain data tracked by analytics firm Lookonchain showed the hacker converted the stolen funds into approximately 21,957 Ethereum (ETH), then began selling in August 2025 at an average price of $4,562 per coin, recording a 93.5% profit on the loot.

The native RDNT token was trading at $0.022 as of August 2025.

Generated Image: Midjourney

Rubio: US and Iran to continue technical consultations at the end of this month

Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)

5 hours ago

Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.

According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.

5 hours ago

Bitcoin falls below $60,000

According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.

5 hours ago

US Treasury Secretary: AI boom may boost productivity and help curb inflation.

US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.

5 hours ago

US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.

According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.

5 hours ago

During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.

According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.

5 hours ago

Rubio: US and Iran to continue technical consultations at the end of this month

Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)

5 hours ago

Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.

According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.

5 hours ago

Bitcoin falls below $60,000

According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.

5 hours ago

US Treasury Secretary: AI boom may boost productivity and help curb inflation.

US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.

5 hours ago

US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.

According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.

5 hours ago

During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.

According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.

5 hours ago

Binance has announced the delisting of eight tokens from its spot trading platform, effective April 1, 2026. The tokens, Arena-Z (A2Z), Ampleforth Governance Token (FORTH), Hooked Protocol (HOOK), IDEX (IDEX), Loopring (LRC), Neutron (NTRN), Radiant Capital (RDNT), and Solar (SXP), failed to meet the exchange’s updated listing standards following a periodic review.

The announcement, published on March 18, sent immediate shockwaves through the affected tokens’ markets. A Binance delisting is one of the most severe liquidity events a token can face, removing access to the world’s largest crypto exchange by volume in a single stroke.

The delisting news arrived on an already difficult day for crypto markets. Fed Chair Jerome Powell stated that rate cuts won’t come unless there is clear progress on inflation. Bitcoin fell sharply following Powell’s remarks, with the market now watching closely for BTC’s next move.

The Criteria Behind the Cuts Binance conducts regular reviews of listed assets across a range of factors, including development activity, trading volume, network security, community engagement, team commitment, and evidence of unethical conduct. The exchange also considers changes to tokenomics, ownership structure, and responsiveness to due diligence requests.

The eight tokens delisted span a wide range of projects, from DeFi infrastructure plays like Loopring and Radiant Capital to newer ecosystem tokens like Neutron, a Cosmos-based smart contract platform.

None have been given specific reasons for their removal, consistent with Binance’s standard practice of citing cumulative review criteria rather than individual project failures.

Token Prices Crash After Announcement The market reaction was swift and brutal for several of the affected tokens.

For instance, HOOK, the token behind Hooked Protocol, fell 13.5% to $0.01466, with a 24-hour range of $0.01392 to $0.01707. The price chart shows a sharp cliff immediately after the announcement, followed by a prolonged period of depressed trading.

Despite the drop, HOOK’s 24-hour trading volume of $14.7 million significantly exceeds its market cap of $4.22 million, suggesting active panic selling rather than illiquidity.

HOOK price performance. Source: CoinGecko FORTH, the governance token for the Ampleforth protocol, also took a big hit. It dropped 14.6% in 24 hours, sliding from a high of $0.7208 to a current price of $0.6137.

Market cap now sits at just $7.06 million, a figure that helps explain why it no longer meets Binance’s liquidity thresholds.

FORTH price performance. Source: CoinGecko NTRN, the native token of Neutron, declined 5.4% to $0.00573, with a 24-hour range of $0.005407 to $0.006148. Its chart tells a slightly different story, an initial sharp drop followed by a volatile bounce toward $0.006 in later trading, before settling back lower.

The partial recovery may reflect community buying or short covering.

A Binance delisting does not necessarily mean a project is dead. Tokens often migrate trading activity to decentralised exchanges or smaller centralised platforms after removal.

But the liquidity loss is significant and rarely fully recovered.

Binance Under the Spotlight The delisting announcement comes as Binance navigates a separate regulatory moment. Binance issued a formal response to a U.S. Senate inquiry examining potential Iran sanctions exposure, addressing a February 24 letter from Senator Richard Blumenthal.

The exchange rejected the claims, defended its sanctions programme, and detailed investigations involving two flagged entities.

On the other side of the ledger, Binance has been reinforcing its institutional standing. Its SAFU fund has hit a milestone following a purchase of 4,500 BTC, bringing its total holdings to 15,000 BTC and overtaking Coinbase.