Solana decentralized finance (DeFi) protocol Loopscale temporarily halted its lending markets after suffering an approximately $5.8 million exploit. On April 26, a hacker siphoned approximately 5.7 ...

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Loopscale, a so-called decentralized finance (DeFi) protocol operating on the Solana blockchain, fell victim to a significant security breach.

Solana DeFi protocol Loopscale lost over $5.8 million, roughly 12% of its Total Value Locked (TVL), to a cyber exploit.

Solana-based lending protocol Loopscale was exploited for $5.8 million on Saturday, about two weeks after its launch on April 10.

Loopscale’s $5.8 million exploit sees rare resolution as hacker agrees to return stolen USDC and Solana funds for a 10% bounty.

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 ...

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Update (April 26 at 8:57 PM UTC): This article has been updated to include updates from Loopscale. Solana decentralized finance (DeFi) protocol Loopscale temporarily halted its lending markets ...