The X post of Loopscale dated April 28, 2025, notes that the bad actors behind the exploit of $5.8 million have agreed to return the stolen funds for 10% total amount.
At 3:52PM ET today, we received a response from the exploiter. They have indicated a willingness to return the exploited funds in exchange for a bounty.We appreciate their engagement so far and we are actively working to reach an amicable resolution.As such, we will be… https://t.co/znCZxtoi1z
— Loopscale (@LoopscaleLabs) April 28, 2025
It further reads that, “ We appreciate their engagement so far and we are actively working to reach an amicable resolution,” further adds, “As such, we will be sharing the plan for resuming withdrawals and a full post-mortem in the next few days, rather than today.,”
The breach occurred due to pricing system manipulation which resulted in lost $5.7 million in USD coin and 1,200 Solana from its vaults.
With this hack, Loopscale has initially halted it’s services of deposit and withdrawals, and has been closely working to resolve the issue at earliest.
Soon after the wipe out of millions of dollars in Solana and USDC coin, Loopscale has announced that 10% of the total stolen funds have been legally recovered the amount the bad actors.
Crypto lost $1.60 billion to $2 billion in Q1, 2025
According to some published reports, the losses of crypto in the first quarter of 2025 are around $1.60 billion and $2 billion in around 60 incidents, compared to Q1 2024, the amount lost in Q1 2025 is 131% YOY.
According to reports from PeckShield, Immunefi, and Hacken, the bulk of losses were caused by access control attacks, including flaws in multisig wallets. The worst breaches were on centralized platforms like Bybit and Phemex.
The biggest event took place in February, when Bybit lost between $1.4 billion and $1.46 billion, or almost 92% of the overall losses in Q1.
A chaotic quarter is indicated by monthly breakdowns, which show January losses of $73.9–$87.93 million, February’s peak of $1.51–$1.53 billion, and a steep drop in March to $27.9–$33.46 million among 20 occurrences.
Crypto market price updates
Until publishing the crypto market cap was $2.99 trillion with a surge of 1.41% and the crypto fear and greed index was at 51 determining a neturalilty in the market sentiment.
Bitcoin is exchanging hands at $95,200 with an intraday growth of 1.25%, and in the past seven days, the price grew 9.10%.
According to the data from CoinMarketCap, the intraday gainers list has been ruled by DeepBook Protocol, Pudgy Penguins, Monera, Walrus, Fartcoin, Virtual Protocol, Bonk, and Core.
The losers are Bitcoin SV, Bittorrent, PI, Four, Optimism, Ethereum Name Service, and DeXe, Uniswap. At the same time, the weekly losers are DeXe, UNUS SED LEO, PAX Gold, Tether Gold, PI, Bitget Token, and Gatetoken.
List of trending cryptocurrencies is led by XRP, Bitcoin, Pudgy Penguins, Casper, Solana, DeepBook Protocol and Bonk with Cardano.
