Loopscale Faces Attack, Around 5.7 Million USDC and 1200 SOL Stolen

BlockBeats News, April 27th: Loopscale, a modular DeFi lending market built on Solana, was attacked at 0:30 a.m. today (Beijing time). The attack occurred due to manipulation of the RateX PT token pricing function, resulting in the theft of approximately 5.7 million USDC and 1200 SOL, accounting for about 12% of the platform's total funds.

Currently, all markets have been paused. The team is working on restoring the repayment function to avoid liquidation accidents, collaborating with law enforcement, security teams, and investors to recover funds. A detailed event analysis report will be released later.