TechFlow news, April 27 — According to a post from the official X account of Solana-based lending protocol Loopscale, at 11:30 AM EST today (April 26, 23:30 Beijing time), the pricing mechanism of the RateX PT token was manipulated, resulting in approximately 5.7 million USDC and 1,200 SOL being stolen from its USDC and SOL vaults. This attack affected about 12% of Loopscale’s protocol funds and impacted only depositors in the Loopscale USDC and SOL vaults.
Currently, Loopscale has suspended all market operations and is collaborating with law enforcement, security experts, and investors to recover the funds. The team stated that they will restore repayment functionality as soon as possible to prevent unintended liquidations and will release a detailed technical post-mortem report upon completion of the investigation.
