“On April 26, the Defi Protocol LOOPSCALE, built on Solana, was an attack, which was lost about $ 5.7 million in USDC and 1200 SOL. The break occurred only two weeks after the platform launches. Update: Loopscale Has Re-Anabled Loan Repayments, Top-Us, and Loop Closing. All Other App Functions (Including Vault withDrawals) are Still Temporiarly restricted while we investigate and intigigation of this exploit. […]”, – WRITE: Businessua.com.ua
On April 26, the Defi Protocol LOOPSCALE, built on Solana, was an attack, which was lost about $ 5.7 million in USDC and 1200 SOL. The fracture happened after two weeks after the platform is launched.
Update: Loopscale Has Re-Anabled Loan Repayments, Top-Us, and Loop Closing. All Other App Functions (Including Vault withDrawals) are Still Temporiarly restricted while we investigate and intigigation of this exploit.
The root cause of the Exploit had been Identified as an… https://t.co/pk2pmx8uck
– Loopscale (@loopscalelabs) April 26, 2025
The Loopscale team reported that the attackers used the vulnerability of one of the markets of the protocol, which led to the incorrect calculation of the collateral based on the Ratex mechanism. All the functions of the platform were temporarily restricted for the investigation. LOOPSCALE has already turned to law enforcement.
Later the protocol resumed payments on loans.
Loopscale, previously known as Bridgesplit, offers a credit platform based on orders, unlike pool decisions such as Aave or Soled.
The LOOPSCALE audit was conducted by Oshield, which revealed several critical vulnerabilities that have already been corrected. SEC3 is completed with additional inspection.
The protocol announced a reward of 3947 SOL (about $ 594,000) for assistance in returning the stolen funds. On April 28, hackers agreed to this agreement.
AT 3:52 PM et Toiday, We Received A Respense from the Exploiter. They have Indicated a willingness to return the exploited funs in exchange for a bounty.
We Appreciate their Engagement so far and we are actvely work to reach an amicable resolution.
As Such, We Will Be … https://t.co/znczxtoi1z
– Loopscale (@loopscalelabs) April 28, 2025
“We value cooperation and are actively working on achieving a friendly settlement. In the coming days we will publish a plan for recovery of funding and a complete analysis of the situation, ”LOOPSCALE noted.
We will remind, on April 23, a hacker who stole ZK tokens worth about $ 5 million from ZKSYNC smart contract, also returned funds after the remuneration.
The gun
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