Loopscale hacked for $5.8 million two weeks after launch
A new Solana-based defi protocol called Loopscale, backed by Coinbase Ventures and Solana Labs, suffered a $5.8 million exploit only two weeks after its launch. The stolen funds represented 12% of the protocol's TVL. The project blamed the exploit on a bug in the protocol's pricing calculations. Although the project had been audited in February by OShield, the audit evidently did not detect the flaw. "Solana DeFi protocol Loopscale hit with $5.8 million exploit two weeks after launch" , The Block
A new Solana-based defi protocol called Loopscale, backed by Coinbase Ventures and Solana Labs, suffered a $5.8 million exploit only two weeks after its launch. The stolen funds represented 12% of the protocol's TVL. The project blamed the exploit on a bug in the protocol's pricing calculations. Although the project had been audited in February by OShield, the audit evidently did not detect the flaw.
