🚨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