🚀 Solana's Loopscale Faces Security Breach Impacting USDC and SOL Funds
#Solana #Loopscale #SecurityBreach #USDC #SOL #Crypto #Blockchain #Investigation #RateX #FundsRecovery
According to PANews, Solana-based lending protocol Loopscale reported a security breach on the X platform. On April 26 at 23:30 UTC+8, the RateX PT token pricing function was manipulated, resulting in the theft of approximately 5.7 million USDC and 1,200 SOL from Loopscale's USDC and SOL vaults. In response, all markets on Loopscale have been temporarily halted to allow for further investigation by the team.
The breach affected around 12% of Loopscale's total funds, specifically impacting depositors of USDC and SOL into Loopscale's vaults. Borrowers and users of the revolving loan service were not affected. Efforts are underway to restore repayment functions swiftly to prevent unforeseen liquidation scenarios.
The Loopscale team is actively collaborating with law enforcement, security experts, and investors to recover the stolen funds. A comprehensive technical analysis report will be released as soon as more information becomes available. The vulnerability originated from the RateX PT token market on Loopscale, but RateX itself remains unaffected.#Solana #Loopscale #SecurityBreach #USDC #SOL #Crypto #Blockchain #Investigation #RateX #FundsRecovery
🚀 Loopscale Reopens Loan Repayment and Liquidation Functions Amid Security Investigation
#Loopscale #LoanRepayment #Liquidation #SecurityInvestigation #Vulnerability #CollateralPricing #RateX #SOL #USDC #VaultWithdrawals #FinancialLoss #LawEnforcement #TechnicalReview
According to Odaily, Loopscale has announced the reopening of its loan repayment, margin call, and liquidation functions. However, other application features, including Vault withdrawals, remain temporarily restricted. The company confirmed that the recent vulnerability was due to a single-point issue in the collateral pricing of RateX, which itself poses no security risk. The financial loss has primarily affected users with deposits in SOL and USDC Genesis Vaults. The Loopscale team is currently collaborating with law enforcement and security experts to investigate the incident and recover the funds. Further details on user impact, Vault withdrawal arrangements, and a comprehensive technical review report will be released in due course.#Loopscale #LoanRepayment #Liquidation #SecurityInvestigation #Vulnerability #CollateralPricing #RateX #SOL #USDC #VaultWithdrawals #FinancialLoss #LawEnforcement #TechnicalReview
🚀 Loopscale Hackers Agree to Return Stolen Funds in Exchange for Bounty
#Loopscale #hackers #stolenFunds #bounty #Solana #lendingProtocol #vulnerability #withdrawals #incidentAnalysis #whiteHat #SOL
According to Foresight News, Solana-based lending protocol Loopscale announced that hackers have agreed to return funds exploited due to a vulnerability. The hackers responded at 3:52 PM (Eastern Time) today, expressing willingness to return the stolen assets and receive a bounty. Loopscale plans to share details on resuming withdrawals and a comprehensive post-incident analysis in the coming days.
Previously, Loopscale was targeted by hackers on April 26. Following the attack, Loopscale proposed a white hat bounty offer, suggesting that if the hackers returned 90% of the stolen funds, amounting to 35,527 SOL, they would receive a 10% bounty of 3,947 SOL.#Loopscale #hackers #stolenFunds #bounty #Solana #lendingProtocol #vulnerability #withdrawals #incidentAnalysis #whiteHat #SOL
🚀 Loopscale Recovers Stolen USDC and SOL Following Successful Negotiations
#Loopscale #USDC #SOL #crypto #security #recovery #negotiation
According to PANews, Loopscale announced on its official Twitter account that all 5,726,725 USDC and 1,211 SOL, which were stolen on April 26, have been successfully recovered. The company assured that user deposits were not affected by the incident. The team plans to release further details regarding vault withdrawals in the near future.#Loopscale #USDC #SOL #crypto #security #recovery #negotiation
🚀 Loopscale Warns Users of Phishing Attacks
#Loopscale #Phishing #Cybersecurity #UserSafety #ScamAwareness
According to PANews, Loopscale has issued a warning to its users regarding phishing attacks. The company announced on the X platform that it has received reports of phishing attempts targeting Loopscale users. Loopscale emphasized that its team will never send direct messages or emails to users. They advised users to avoid clicking on any links claiming to be from Loopscale. Official updates regarding withdrawal processes will be communicated through their official account.#Loopscale #Phishing #Cybersecurity #UserSafety #ScamAwareness
🚀 April 2025 Sees Significant Losses in Crypto Security Incidents
#Crypto #Security #Incidents #Losses #Phishing #KiloEx #Loopscale #zkSync
According to Foresight News, the cryptocurrency industry experienced substantial security breaches in April 2025, resulting in losses totaling $364 million. Of this amount, approximately $18.2 million has been returned and is not included in the total loss figure. Phishing attacks were identified as the primary cause, accounting for around $337 million in losses. Notably, funds stolen from KiloEx, Loopscale, and zkSync have been returned by the hackers.#Crypto #Security #Incidents #Losses #Phishing #KiloEx #Loopscale #zkSync
🚀 April 2025 Sees Significant Losses from Crypto Attacks
#CryptoAttacks #Cryptocurrency #Bitcoin #KiloEx #zkSync #TermLabs #Loopscale #MorphoLabs #April2025 #Cybersecurity #Blockchain #BTC #ZK
According to PANews, April 2025 witnessed 18 major cryptocurrency attacks, resulting in total losses of approximately $357.11 million. Among these incidents, unauthorized Bitcoin transfers accounted for $330.7 million in losses. Additionally, projects such as KiloEx, zkSync, and Term Labs collectively recovered around $14.4 million. Other notable events included an attack on Loopscale, leading to a $5.8 million loss, and a front-end attack on MorphoLabs, resulting in a $2.6 million loss.#CryptoAttacks #Cryptocurrency #Bitcoin #KiloEx #zkSync #TermLabs #Loopscale #MorphoLabs #April2025 #Cybersecurity #Blockchain #BTC #ZK
🚀 Solana's Loopscale Recovers Funds After Security Breach
#Solana #Loopscale #SecurityBreach #USDC #SOL #FundsRecovery #SmartContract #BlockchainSecurity #BugBounty #ThirdPartyAudit
According to Foresight News, Solana-based lending protocol Loopscale has released a report on a recent security incident. An attacker exploited a pricing logic flaw to borrow 5,726,700 USDC and 1,211.4 SOL. All funds have been successfully recovered through negotiations.
The incident was caused by a code path that inadequately verified the price of RateX PT tokens, which was deployed without a third-party audit. Loopscale has apologized for the breach and committed to enhancing security measures. These measures include mandatory third-party audits, launching a bug bounty program, increasing multi-signature authorization, and setting borrowing and withdrawal limits.#Solana #Loopscale #SecurityBreach #USDC #SOL #FundsRecovery #SmartContract #BlockchainSecurity #BugBounty #ThirdPartyAudit
🚀 Loopscale Concludes Investigation into April Cyber Attack
#Loopscale #CyberAttack #Investigation #Security #LendingProtocol #Blockchain #EcosystemSecurity #OnChainLending #HackingIncident
According to Odaily, modular lending protocol Loopscale has released the final update on the hacking incident that occurred on April 26 via the X platform. The update reveals that, with the assistance of law enforcement, the perpetrator behind the vulnerability attack has been identified. Loopscale is now sharing relevant information with other protocol teams to help prevent similar incidents and support broader ecosystem security. The investigation has concluded, and the focus will shift back to building and strengthening security measures. All functionalities will soon be restored, aiming to establish new standards for on-chain lending.#Loopscale #CyberAttack #Investigation #Security #LendingProtocol #Blockchain #EcosystemSecurity #OnChainLending #HackingIncident
🚀 Loopscale Identifies Culprit Behind April Cyberattack
#Loopscale #Cyberattack #HackingIncident #SecurityMeasures #OnChainLending #CryptoSecurity #LawEnforcement
According to PANews, modular lending protocol Loopscale has released a final update on the hacking incident that occurred on April 26. With assistance from law enforcement, the perpetrator has been identified. Loopscale is now sharing relevant information with other protocol teams to help prevent similar incidents and enhance the security of the broader ecosystem. The investigation has concluded, and the focus will now shift back to building and strengthening security measures. All functionalities are expected to resume soon, setting new standards for on-chain lending.#Loopscale #Cyberattack #HackingIncident #SecurityMeasures #OnChainLending #CryptoSecurity #LawEnforcement
🚀 Solana's Loopscale Integrates Orca and Raydium LP Tokens for Collateral Use
#Solana #Loopscale #Orca #Raydium #LPtokens #Collateral #LendingProtocol #DeFi #Crypto #YieldLiquidity #BlockBeats #CryptoInfrastructure #OrderBookArchitecture #RAY #SOL #ORCA
Solana-based lending protocol Loopscale has announced that LP tokens from Orca and Raydium can now be used as collateral. According to BlockBeats, Loopscale's order book architecture allows for pricing based on the specific conditions of each position, rather than incorporating them into a centralized lending pool model.
This credit market infrastructure unlocks over $1 billion in yield liquidity. The system independently evaluates and prices each LP based on multiple variables, including price range, fee levels, and underlying assets.#Solana #Loopscale #Orca #Raydium #LPtokens #Collateral #LendingProtocol #DeFi #Crypto #YieldLiquidity #BlockBeats #CryptoInfrastructure #OrderBookArchitecture #RAY #SOL #ORCA
🚀 Drift Protocol Vulnerability Expands to Affect 20 Protocols
#DriftProtocol #Vulnerability #Solana #DeFi #CryptoLoss #PrimeNumbersFi #Gauntlet #NeutralTrade #ElementalDeFi #ReflectMoney #Vectis #RangerFinance #Pyra #PiggyBank #Perena #AmpPay #Loopscale #Valeo #Exponent #PiggyBank
Recent data from SolanaFloor reveals that the impact of the Drift protocol vulnerability has widened, now affecting 20 protocols, up from the previous 11. According to Odaily, newly affected protocols include PiggyBank, Perena, Vectis, Valeo, Amp Pay, Loopscale, Prime Numbers Fi, Gauntlet, and Exponent.
In terms of financial losses, Prime Numbers Fi estimates losses exceeding $10 million, Gauntlet around $6.4 million, Neutral Trade approximately $3.67 million, Elemental DeFi about $2.9 million, Reflect Money around $1.95 million, Vectis approximately $1.69 million, Ranger Finance about $919,000, Pyra around $551,000, and PiggyBank confirmed a loss of $106,000, which the team has fully compensated.
Affected protocols have implemented various measures, with most suspending minting, redemption, deposits, withdrawals, or related vault functions. Prime Numbers Fi is still assessing the situation and has not announced specific actions. Vectis has yet to respond, but Ranger Finance has confirmed exposure to risk. Gauntlet has restricted further supply and is coordinating with Drift.#DriftProtocol #Vulnerability #Solana #DeFi #CryptoLoss #PrimeNumbersFi #Gauntlet #NeutralTrade #ElementalDeFi #ReflectMoney #Vectis #RangerFinance #Pyra #PiggyBank #Perena #AmpPay #Loopscale #Valeo #Exponent #PiggyBank