Close Menu
Cryprovideos
    What's Hot

    MultiBank Group and Khabib Nurmagomedov Launch an Unique Worldwide Multi-Billion-Greenback Joint Enterprise to Construct the World’s First Regulated Tokenized Sports activities Ecosystem. | UseTheBitcoin

    October 25, 2025

    Meet the Roaring Kitty of Past Meat: 'I Would Really feel Responsible Promoting' – Decrypt

    October 25, 2025

    Don’t simply tokenize property, construct the establishments to again them

    October 25, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Altcoins»Solana DeFi Platform Loopscale Suffers $5.8M Exploit: Right here is What Occurred – BlockNews
    Solana DeFi Platform Loopscale Suffers .8M Exploit: Right here is What Occurred – BlockNews
    Altcoins

    Solana DeFi Platform Loopscale Suffers $5.8M Exploit: Right here is What Occurred – BlockNews

    By Crypto EditorApril 27, 2025No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    • Loopscale halted lending after a $5.8M exploit, impacting USDC and SOL vaults and freezing some app capabilities whereas investigations proceed.
    • The protocol had simply launched on April 10, providing high-yield lending markets with over 7,000 lenders and $40M TVL earlier than the assault.
    • The hack provides to a tough 12 months for DeFi safety, with over $1.6B stolen in Q1 2025, highlighting ongoing dangers within the area.

    Solana’s DeFi area took one other hit this week. Loopscale, a comparatively new lending protocol, has paused elements of its platform after getting drained for about $5.8 million in an exploit.

    The Assault and Aftermath

    On April 26, hackers swooped in and drained roughly 5.7 million USDC and 1,200 SOL by pulling off a sequence of undercollateralized loans, in accordance with Loopscale co-founder Mary Gooneratne.

    Loopscale shortly jumped into motion:

    The hack largely impacted Loopscale’s USDC and SOL vaults, wiping out round 12% of the platform’s whole worth locked (TVL).

    “Our crew is totally mobilized to analyze, get well funds, and guarantee customers are protected,” Gooneratne stated in a put up on X.

    Greater Image: DeFi’s Safety Struggles Proceed

    This Loopscale breach isn’t occurring in a vacuum. PeckShield reported that simply in Q1 2025, greater than $1.6 billion in crypto was stolen — and an enormous chunk of that ($1.5B!) got here from the ByBit hack linked to Lazarus Group out of North Korea.

    DeFi nonetheless feels just like the Wild West typically?

    What Makes Loopscale Completely different

    Launched on April 10 after a six-month beta, Loopscale tries to do DeFi lending somewhat otherwise:

    • It matches lenders and debtors instantly as an alternative of pooling liquidity like Aave does.
    • It helps structured credit score markets, receivables financing, and even undercollateralized lending — which, yeah, sounds kinda dangerous but additionally attention-grabbing.

    The platform boasts some juicy numbers, too:

    • Over 7,000 lenders joined in only a few weeks,
    • Round $40 million TVL earlier than the hack,
    • Major vault APRs pushing 5%+ for USDC and 10%+ for SOL.

    In addition they supplied unique pairs like JitoSOL and BONK for adventurous yield seekers

    Loopscale was driving some critical momentum… till the exploit hit. Now, the subsequent few days shall be crucial in seeing whether or not they can get well — and extra importantly, regain belief.



    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Crypto Information: JPMorgan Sees $34B Upside for Coinbase through Base Token Launch

    October 25, 2025

    First US XRP ETF Luggage $100 Million In a Month

    October 25, 2025

    Coinbase one card brings 4% bitcoin again and Amex perks

    October 25, 2025

    'The Greatest Is But To Come’: Ripple President Sees Brilliant Path Forward For XRP

    October 25, 2025
    Latest Posts

    Coinbase one card brings 4% bitcoin again and Amex perks

    October 25, 2025

    Bitcoin value compression will spark enlargement: Will BTC explode towards $120K?

    October 25, 2025

    Bitcoin Value Evaluation: BTC Above $111,000 Whereas Merchants Await a Breakout

    October 25, 2025

    Bitcoin (BTC) Worth Evaluation for October 24 – U.Right this moment

    October 25, 2025

    JPMorgan To Enable Bitcoin As Collateral Earlier than Finish Of 2025

    October 25, 2025

    Spooky Szn? Bitcoin Choices Value Report $31 Billion Set to Expire on Halloween – Decrypt

    October 25, 2025

    BTC, ADA, XRP, SOL Information: Bitcoin Holds $111K as ‘Uptober’ Dud Heads for Final Week

    October 25, 2025

    Bitcoin NeTether and Rumble Introduce Bitcoin Tipping for World Customers

    October 25, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    BitMine Immersion (BMNR) Pronounces ETH Holdings Exceed 2% of Ethereum Community With ETH Holdings Exceeding 2.4 Million Tokens and Whole Crypto and Money Holdings of $11.4 Billion | UseTheBitcoin

    September 23, 2025

    Consensys decentralized Infura launches as EigenLayer AVS

    November 15, 2024

    Greatest Crypto to Purchase Now as Ethereum ETFs Hit Report Inflows – CryptoDnes EN

    July 20, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.