Loopscale releases post-hack report: All funds have been recovered, refinancing feature will soon be restarted

2025-05-09 11:54:27

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ChainCatcher news, Loopscale released a post-hack report, disclosing that hackers exploited a pricing logic vulnerability in the protocol, resulting in the unauthorized outflow of 5,726,724.97 USDC and 1,211.4 SOL from the USDC and SOL Genesis treasury. All funds have now been recovered.

Loopscale additionally stated that it will gradually re-enable the full protocol features, with the refinancing function set to restart soon. The grace period will be extended by 3 days, providing borrowers an opportunity to repay or close their positions. Borrowers are advised to monitor their positions in case of interest rate changes or liquidity tightening.

Furthermore, from April 26 to June 7, the balances of Vault or Advanced Lend depositors will receive a 12x points boost.

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Loopscale Post-Hack Report

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