Solana's Loopscale pauses lending after $5.8M hack

Loopscale Breach: Hacker Offers to Return Funds for 20%

Loopscale, a decentralized finance (DeFi) platform, is in discussions with the hacker responsible for its recent security breach to recover stolen assets in exchange for a reward.

Loopscale Recovery: Breakthrough in Solana Exploit Funds Return

In the fast-paced world of decentralized finance (DeFi), security incidents are a stark reality. When a protocol suffers a significant breach, the focus quickly shifts from the initial loss to the potential for recovery. This is precisely the situation the Solana-based DeFi protocol, Loopscale, has been navigating following a substantial exploit. The good news breaking recently is the significant progress made in the Loopscale recovery efforts, …

Bitrue Hack Resurfaces as Stolen Crypto Assets Are Moved and Sold One Year Later

In a truly surprising development over a year after the Bitrue crypto exchange hack, analysts of blockchain technology have seen the stolen funds moving around.

Loopscale Hacker Agrees to Return $5.8 Million in Crypto After Bounty Deal - CoinCodeCap

Key Takeaways The hacker targeted Loopscale’s vaults through a pricing vulnerability in the RateX PT token.  A total of 3,947 SOL is being kept by the attacker, with 35,527 SOL being recovered and designated for reimbursement to affected users. Loopscale has recovered the majority of the $5.8 million in crypto stolen during a security breach on April 26, following a negotiated agreement with the hacker. Under the terms of the deal, the individu…

Loopscale loses $5.8M in oracle attack

This is a segment from the Lightspeed newsletter. To read full editions, subscribe. Loopscale Labs had one tough weekend. Bad actors on Saturday exploited Loopscale’s pricing functions to make loan collateral seem worth more than it really was, resulting in the theft of approximately $5.7 million in USDC and 1,200 SOL (or around 12% of the platform’s total assets.) It’s obviously not ideal to suffer an exploit just two weeks after launching, but…

Crypto Theft: Loopscale Hackers Agree To Return Stolen $5.8 Million — For A Price

A cryptocurrency exchange reached an agreement with cybercriminals who hacked into millions, marking increased security issues in the digital currency industry. Loopscale revealed on April 28 that the attackers involved in a recent $5.8 million heist committed to returning the majority of the stolen money in return for a reward payment. Related Reading: Bitcoin Goes […]