{"id":23465,"date":"2025-04-28T10:57:25","date_gmt":"2025-04-28T07:57:25","guid":{"rendered":"https:\/\/forklog.com\/en\/hacker-loopscale-offers-to-return-5-8-million-for-a-reward\/"},"modified":"2025-04-28T10:57:25","modified_gmt":"2025-04-28T07:57:25","slug":"hacker-loopscale-offers-to-return-5-8-million-for-a-reward","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hacker-loopscale-offers-to-return-5-8-million-for-a-reward\/","title":{"rendered":"Hacker Loopscale Offers to Return $5.8 Million for a Reward"},"content":{"rendered":"<p>On April 26, the DeFi protocol Loopscale, based on Solana, lost approximately $5.7 million USDC and 1200 SOL due to an attack that occurred two weeks after its launch.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Update: Loopscale has re-enabled loan repayments, top-ups, and loop closing. All other app functions (including Vault withdrawals) are still temporarily restricted while we investigate and ensure mitigation of this exploit.<\/p>\n<p>The root cause of the exploit has been identified as an\u2026 <a href=\"https:\/\/t.co\/Pk2pMx8UcK\">https:\/\/t.co\/Pk2pMx8UcK<\/a><\/p>\n<p>\u2014 Loopscale (@LoopscaleLabs) <a href=\"https:\/\/twitter.com\/LoopscaleLabs\/status\/1916230435291713786?ref_src=twsrc%5Etfw\">April 26, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The attackers exploited a vulnerability in one of the platform&#8217;s markets, according to a statement from the team. Loopscale has contacted law enforcement to track down the criminals and recover the funds.<\/p>\n<p>All protocol functions were temporarily restricted during the investigation. The company noted that the issue was related to the revaluation of collateral based on RateX.<\/p>\n<p>Later, the protocol <a href=\"https:\/\/x.com\/LoopscaleLabs\/status\/1916230435291713786\">restored<\/a> loan repayments.<\/p>\n<p>Loopscale, formerly known as Bridgesplit, offers a lending platform based on an order book, unlike pool-based protocols such as Aave or Solend.<\/p>\n<p>The company was audited by OShield, which identified several critical vulnerabilities that have already been fixed, as stated in the <a href=\"https:\/\/docs.loopscale.com\/resources\/faq#has-loopscale-been-audited\">FAQ<\/a>. Another review by Sec3 is reportedly underway.<\/p>\n<p>The protocol offered a reward of 3947 SOL (~$594,000) for assistance in recovering the funds. On April 28, the hackers agreed to the deal.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">At 3:52PM ET today, we received a response from the exploiter. They have indicated a willingness to return the exploited funds in exchange for a bounty.<\/p>\n<p>We appreciate their engagement so far and we are actively working to reach an amicable resolution.<\/p>\n<p>As such, we will be\u2026 <a href=\"https:\/\/t.co\/znCZxtoi1z\">https:\/\/t.co\/znCZxtoi1z<\/a><\/p>\n<p>\u2014 Loopscale (@LoopscaleLabs) <a href=\"https:\/\/twitter.com\/LoopscaleLabs\/status\/1916649701601853894?ref_src=twsrc%5Etfw\">April 28, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cWe appreciate their engagement and are actively working to reach an amicable resolution. As such, we will share a plan for resuming withdrawals and a full analysis of the situation in the coming days,\u201d stated Loopscale.<\/em><\/p>\n<\/blockquote>\n<p>Earlier, on April 23, the perpetrator who <a href=\"https:\/\/forklog.com\/en\/news\/zksync-faces-plunge-after-5-million-token-theft\">stole<\/a> ZK tokens worth approximately $5 million from the ZKsync airdrop smart contract <a href=\"https:\/\/forklog.com\/en\/news\/zksync-reaches-agreement-with-hacker-for-return-of-5-million\">returned<\/a> the funds within the deadline set by the project team.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On April 26, the DeFi protocol Loopscale, based on Solana, lost approximately $5.7 million USDC and 1200 SOL due to an attack that occurred two weeks after its launch. Update: Loopscale has re-enabled loan repayments, top-ups, and loop closing. All other app functions (including Vault withdrawals) are still temporarily restricted while we investigate and ensure [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[44,1093,1424,1159],"class_list":["post-23465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cybercrime","tag-defi","tag-protocols","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"83","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=23465"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23465\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/23464"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=23465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=23465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=23465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}