The Solana on-chain lending protocol Loopscale suffered a hacker attack, resulting in a loss of approximately 2.37 million USD in crypto assets.

Techub News reports that the on-chain lending protocol Loopscale tweeted that on April 26 at 23:30, the pricing function of Loopscale’s RateX PT Token was manipulated, resulting in approximately 5.7 million USDC and 1,200 SOL being stolen from Loopscale’s USDC and SOL vaults. Currently, all markets of Loopscale have temporarily halted trading to allow the team to conduct further investigations. The funds involved in this security breach account for about 12% of Loopscale’s total funds and only affect depositors who deposited funds into Loopscale’s USDC and SOL vaults. Borrowers and loop loan users were not affected. The team is working hard to restore the repayment function as soon as possible to avoid unforeseen liquidation situations. The team is closely collaborating with law enforcement officials, security experts, and investors to recover the funds. A complete technical analysis report will be released as soon as more information is available.