Here's a concise AI-generated summary of the incident involving Loopscale:
Solana’s Loopscale Recovers Funds After Exploit Solana-based lending protocol Loopscale suffered a security breach due to a flaw in pricing logic, allowing an attacker to borrow over 5.7 million USDC and 1,211 SOL. The vulnerability stemmed from unaudited code handling RateX PT token pricing. Fortunately, all funds were recovered through negotiations. In response, Loopscale plans to enhance security by enforcing third-party audits, introducing a bug bounty program, strengthening multi-signature controls, and limiting borrowing and withdrawals.