Loopscale was hacked on Saturday, roughly two weeks after its launch on April 10. The attacker used a series of undercollateralized loans to drain about 5.7 million USDC and 1,200 SOL.

The hacker behind the $5.8 million recent Loopscale exploit is in talks to return the stolen funds in exchange for a bounty, the Solana-based protocol said. The exploiter pilfered approximately 5. ...

Loopscale said the exploit was caused by a vulnerability tied to how RateX-based collateral was priced. As a result of the breach, the team temporarily disabled withdrawals, loan repayments, and ...

Loopscale, a so-called decentralized finance (DeFi) protocol operating on the Solana blockchain, fell victim to a significant security breach, resulting in a loss of approximately $5.8 million.

Loopscale’s main USDC and SOL vaults yield APRs exceeding 5% and 10%, respectively. It also supports lending markets for tokens such as JitoSOL and BONK (BONK) and looping strategies for upwards ...

Loopscale suffers hack, bounty negotiations ongoingOn Saturday (April 26), approximately US$5.8 million of USDC and SOL were stolen from the Solana-based DeFi protocol Loopscale.

Mary Gooneratne, Co-Founder of Loopscale, Manish Dutta, Co-Founder & CEO of Alphaledger, Michael Repetný, Co-Founder & CEO of Marinade Labs, join Jill Malandrino on Nasdaq TradeTalks to discuss ...

Source: Loopscale In the aftermath of the attack, Loopscale temporarily halted lending but has since “re-enabled loan repayments, top-ups, and loop closing,” it said in an X post.