BlockBeats News, April 27th, the Solana-based lending protocol Loopscale was attacked today, resulting in the theft of approximately 5.7 million USDC and 1200 SOL. The protocol has posted an event update on X platform, indicating that it has now re-enabled loan repayments, deposits, and closed-loop borrowing functions. Other app functionalities (including Vault withdrawals) remain temporarily restricted. The investigation is ongoing to ensure mitigation of this vulnerability.
Loopscale further stated that the root cause of this exploit has been identified as a standalone issue based on RateX's collateral pricing, with RateX itself not being implicated. The fund loss only affects depositors in the SOL and USDC genesis vaults, and a comprehensive post-mortem analysis will be released in the future.
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