The Defi Solana Protocol (Defi) has temporarily suspended the lending markets after exposing nearly $ 5.8 million.
On April 26, one of the infiltrators cleared about $ 5.7 million (USDC) and 1,200 Solana from the lending protocol after “a series of hidden loans”, the co -founder of the Foundation participating in Loopscale Mary Godatne He said In the X.
GOONERATNE added that the exploitation not only affects USDC and Sol Vaults and losses represented about 12 % of the total value of Loopscale Locked (TVL).
Loopscale works to “resume payment functions as soon as possible to alleviate the unexpected liquidation”, He said In the X.
“Our team is fully mobilized for investigation, recovering money and making sure that users are protected,” said Gunrati.
In the first quarter of 2025, infiltrators stole more than $ 1.6 billion of encryption from stock exchanges and smart contracts in the series, according to Blockchain Security in a report in April.
More than 90 % of those losses are attributed to a $ 1.5 billion attack on BYBIT, which is the exchange of a central cryptocurrency, from the Lazaros Group, the North Korean Piracy Group.
Related to: Hacks Crypto higher $ 1.6 billion in Q1 2025 – PECKSHIELD
Unique lending model
Loopscale was launched on April 10 after a six -month experimental stage, which is a Defi lending protocol designed to enhance capital efficiency by matching lenders and borrowers directly.
“Organized credit, dues financing, and unstable lending.”
Loopscale’s requests model is distinguished from Defi lending peers, such as AAVE, which collects coded currency deposits in liquidity pools.
The main USDC and Sol cellars are given from Loopscale 5 % and 10 %, respectively. It also supports lending markets for symbols such as Jitosol and Bonk (Bonk) and episodes of up to 40 pairs of the distinctive symbol.
The Defi protocol contains about $ 40 million in TVL and attract more than 7,000 lender, According to Researcher ournetwork.
magazine: Ripple says “End”, Trump in DAS, and more: Hodler’s Digest, from 16 to 22 March
Related Articles
