CoinVoice has learned that the Solana on-chain lending protocol Loopscale was attacked today, resulting in approximately 5.7 million USDC and 1,200 SOL being stolen. The protocol has released an event update on the X platform and has now re-enabled loan repayments, deposits, and the closure of revolving loans. Other application functions (including Vault withdrawals) remain temporarily restricted, and an investigation is ongoing to ensure the mitigation of this vulnerability.

Loopscale added that the root cause of this vulnerability has been identified as an independent issue related to the collateral pricing based on RateX, which is not related to RateX itself. The fund losses only affect the depositors of the SOL and USDC genesis treasury, and a complete technical post-analysis will be released later.