Loopscale, a Solana-based DeFi protocol, suffered a security breach resulting in the theft of $5.8 million. The exploit specifically targeted its RateX PT token and caused disruptions in operations.
Mary Gooneratne, Loopscale's co-founder, confirmed ongoing investigations, emphasizing their commitment to recover funds and protect users. The incident has raised concerns about security vulnerabilities in DeFi platforms.
The breach highlights the importance of enhancing security measures, as market activities were suspended for a comprehensive review. The team aims to restore user trust while addressing regulatory scrutiny.
Full story here: https://coincu.com/334517-solana-loopscale-protocol-exploit
