Solana's Loopscale pauses lending after $5.8M hack

Solana’s Loopscale pauses lending after $5.8M hack - Invest In Crypto News

Update (April 26 at 8:57 PM UTC): This article has been updated to include updates from Loopscale. Solana decentralized finance (DeFi) protocol Loopscale temporarily halted its lending markets after suffering an approximately $5.8 million exploit.  On April 26, a hacker siphoned approximately 5.7 million USDC (USDC) and 1200 Solana (SOL) from the lending protocol after taking out a “series of undercollateralized loans”, Loopscale co-founder Mary…

Solana's Loopscale halts lending following $5.8 million cyberattack

Solana’s lending platform, SolRazr, has temporarily stopped its services after a hack resulted in a loss of $5.8 million. This incident has raised concerns regarding the security of decentralized finance (DeFi) platforms. The exploit occurred due to a vulnerability in the smart contract used by SolRazr, allowing the hacker to drain funds from the platform. This highlights the importance of robust security measures in DeFi protocols to protect us…

Solana DeFi protocol Loopscale hit with $5.8 million exploit two weeks after launch

The platform is working with law enforcement and security professionals to evaluate the exploit and attempt to recover the funds, Loopscale said.

Solana’s Loopscale pauses lending after $5.8M hack

Solana decentralized financing (DeFi) procedure Loopscale has actually momentarily stopped its loaning markets after suffering a roughly $5.8 million make use of. On April 26, a hacker siphoned around 5.7 million USDC (USDC) and 1200 Solana (SOL) from the loaning procedure after getting a “series of undercollateralized loans”, Loopscale co-founder Mary Gooneratne stated in an X post. The make use of just affected Loopscale’s USDC and SOL vaults …

Solana’s Loopscale pauses lending after $5.8M hack – MAXBIT

The lost funds represent about 12% of Loopscale’s total value locked (TVL), according to the DeFi lending protocol’s co-founder. Solana decentralized finance (DeFi) protocol Loopscale has temporarily halted its lending markets after suffering an approximately $5.8 million exploit.  On April 26, a hacker siphoned approximately 5.7 million USDC (USDC) and 1200 Solana (SOL) from the...

Solana's Loopscale pauses lending after $5.8M hack

Loopscale temporarily halted its lending markets after a hacker siphoned roughly $5.8 million from the Solana DeFi protocol.