Close Menu
Cryprovideos
    What's Hot

    LOOK ($LOOK) Hits $92M Market Cap, Turning Consideration Into Meme Worth on Solana – BlockNews

    October 2, 2025

    CryptoQuant Sees Bitcoin Reaching $200K in This fall on Robust Demand – Bitbo

    October 2, 2025

    May the Subsequent 100x Crypto Be Hiding in Plain Sight? Analysts Draw Comparability

    October 2, 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

    LOOK ($LOOK) Hits $92M Market Cap, Turning Consideration Into Meme Worth on Solana – BlockNews

    October 2, 2025

    May the Subsequent 100x Crypto Be Hiding in Plain Sight? Analysts Draw Comparability

    October 2, 2025

    Aura (AURA) Value Surges Over 60% As we speak – Subsequent Crypto to Explode?

    October 2, 2025

    XRP Value Crash To $2.33 Is Nonetheless Potential In This Situation, Right here’s Why

    October 2, 2025
    Latest Posts

    CryptoQuant Sees Bitcoin Reaching $200K in This fall on Robust Demand – Bitbo

    October 2, 2025

    Bitcoin's (BTC) Revenue-Taking Stage Comes, USDT/USDC Duopoly May Finish Quickly, Tether's Cap to $1 Trillion: Crypto Information Recap – U.Right this moment

    October 2, 2025

    Will the UK promote newly seized $7.2B BTC, create Bitcoin treasury or pay victims?

    October 2, 2025

    JPMorgan Says Bitcoin Is Undervalued, Sees Path To $165,000

    October 2, 2025

    Bitcoin As The New Battleground—Sweden Alerts Curiosity In Becoming a member of The Race | Bitcoinist.com

    October 2, 2025

    Will the UK or Rip-off Victims Preserve $7.3 Billion Bitcoin Stockpile?

    October 2, 2025

    JPMorgan Predicts Bitcoin May Hit $165K by 12 months-Finish on Retail-Led Debasement Commerce – BlockNews

    October 2, 2025

    Bitcoin Dynamics Present Wholesome Market Construction: Analyst Units $130K Goal

    October 2, 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

    Belarus President Pushes Clear Guidelines to Appeal to Crypto Buyers

    September 7, 2025

    EU Sanctions Crypto Trade Garantex – Is Finest Pockets Token the Finest Crypto to Purchase Now?

    March 5, 2025

    PrimeXBT expands world attain with FSCA-regulated crypto asset providers

    June 2, 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.