Important Announcement from Loopscale
On April 27, Loopscale, the on-chain lending protocol on Solana, revealed a serious incident through the X platform. At 11:30 AM EST (11:30 PM Beijing time on April 26), the pricing function of Loopscale's RateX PT Token was manipulated. As a result, approximately 5.7 million USDC and 1,200 SOL were stolen from Loopscale's USDC and SOL wallets.
All of Loopscale's markets have been temporarily suspended to allow the team to conduct a deeper investigation. This security incident affects about 12% of Loopscale's total funds, impacting only those who deposited funds in USDC and SOL wallets. Borrowers and revolving loan users are not affected.
Our team is working hard to restore payment functionality to prevent unwanted liquidation. We are also closely collaborating with law enforcement officials, security experts, and investors to recover these funds. When additional information and a comprehensive technical analysis report are available, they will be published immediately.
Note: This content is only intended to provide market information and does not constitute investment advice.
