🚨SOLANA LOOPscale
#PAUSES LENDING AFTER $5.8M
#HACK 🔹Loopscale, a DeFi lending protocol on Solana, halted lending after $5.8M hack.
🔹Losses: $5.7M USDC & 1200
$SOL stolen through undercollateralized loans.
🔹Current status: Loan repayments resumed, but Vault withdrawals remain restricted.
🔹Impact: Hack affected 12% of TVL (Total Value Locked).
🔹Loopscale’s response: Investigation underway, with fund recovery efforts.
-Cointelegraph