The Solana-based DeFi protocol Loopscale was hacked on April 26, resulting in a loss of over $5.8 million, equivalent to 12% of its total locked value (TVL). The cause of the incident was determined to be a collateral pricing error by RateX. The team is actively investigating, recovering funds, and protecting users. Loopscale had previously passed an audit by OShield and is currently undergoing further auditing by Sec3. This incident adds to the list of significant hacking cases in 2025, including Bybit, KiloEX, and Infini. Some platform functionalities have been restored.