#Btc Today at 11:30AM EST someone very attentive found a vulnerability in the calculation of collateral via RateX PT tokens on Loopscale (lending protocol on Solana). Result: neat withdrawal of ~$5.7M USDC and ~1200 SOL, this is ~12% of all funds on the platform.

Withdrawals from Vaults are frozen for now. The police and auditors have been brought in. People on Twitter are worried that they will not get their money back, they are fading. The situation remains tense, the return of deposits will depend on the results of the investigation and the effectiveness of work with law enforcement.

The exploit occurred just 16 days after the protocol was launched.