On April 27th, Solana's on-chain lending agreement Loopscale disclosed on the X platform that at 11:30 am EST today (23:30 on April 26th, Beijing time), Loopscale's RateX PT token pricing function was artificially manipulated, resulting in about 5.70 million USDC and 1200 SOL stolen from Loopscale USDC and SOL vaults. At present, all markets of Loopscale have been temporarily suspended for further investigation by the team.
The security bugs represent approximately 12% of Loopscale's total funds and only affect depositors who have deposited funds into Loopscale's USDC and SOL vaults. Borrowers and revolving loan users are unaffected. We are fully committed to restoring repayment functions as soon as possible to avoid unforeseen liquidation situations. The team is working closely with law enforcement officials, security experts, and investors to fully recover funds. Additional information and a full technical analysis will be released as soon as it becomes available.
Loopscale, a lending agreement, was attacked, and about 5.70 million USDC and 1,200 SOL were stolen
2025-04-26 23:18:33
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