Loopscale, a decentralized finance (DeFi) protocol built on Solana, has suspended its lending operations following a $5.8 million exploit.The incident occurred on April 26, when a hacker drained 5 ...

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.

The exploit occurred on April 26, when manipulation of Loopscale’s RateX PT token pricing functions led to the theft of approximately $5.7 million in USDC (USDC) and 1,200 Solana (SOL) from its ...