crypto news 27 April

-----hacking in crypto -----

Loop scale is a lending service built on the Solana blockchain.

A hacker found a loophole in how Loop scale priced collateral and used it to drain $5.8 million from the platform.

As soon as the team spotted the theft, they froze most services (so no more money could go in or out).

They offered the hacker a bug-bounty reward—and the attacker returned most of the stolen funds.

Now, Loopscale’s working with security experts to patch the bug and is pursuing legal steps to track down the hacker