Loopscale: Vault withdrawals are expected to resume in the coming days
2025-05-06 15:36:44
Loopscale released an update on the hack incident on the X platform, in which it disclosed that the work to re-enable Vault withdrawals is nearly complete, and withdrawals are expected to be ready in the next few days. Loopscale has previously disclosed that the final balance of recovered funds is 5,697,102.5 USDC and 1,215 SOL. All Loopscale vaults, including Genesis Vaults (SOL, USDC, and USDG) and others (jitoSOL and fragSOL), will be subject to a 24-hour withdrawal limit per user, per vault, designed to mitigate liquidity shocks and prevent a sharp spike in borrowing rates.
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