#Solana 🔔 MARKET MOVING NEWS! (27/04/25)

1️⃣ Solana's Loopscale Pauses Lending After $5.8M Hack ‼️

Solana DeFi protocol Loopscale reportedly lost $5.8 million worth of digital assets after an attacker exploited one of its markets on April 26. The stolen crypto represents roughly 12% of the protocol’s TVL. It stated that the primary cause of the exploit was an “isolated issue with Loopscale’s pricing of RateX-based collateral." The platform temporarily halted its lending markets after the exploit. While it has since “re-enabled loan repayments, top-ups, and loop closing”, all other app functions (including Vault withdrawals) are still temporarily restricted while it investigates the exploit.