Loopscale is attacked, with about 5.7 million USDC and 1,200 SOLs stolen

PANews reported on April 27 that the Solana on-chain lending protocol Loopscale disclosed on the X platform that at 11:30 am today EST time (23:30 am on April 26, Beijing time), Loopscale's RateX PT token pricing function was manipulated, resulting in about 5.7 million USDC and 1,200 SOLs being stolen from Loopscale USDC and SOL vaults. Currently, all markets in Loopscale have temporarily stopped trading for the team to investigate further. The funds involved in this security breach account for about 12% of Loopscale's total funds, and only affect depositors who deposit funds into Loopscale's USDC and SOL cashiers. Borrowers and revolving loan users were not affected. We are making every effort to restore the repayment function as soon as possible to avoid unforeseen liquidation. The team is working closely with law enforcement officials, security experts and investors to recover funds with all their might. Once more information and a complete technical analysis report are obtained, they will be released immediately. This is a vulnerability originating from the RateX PT token market on Loopscale. RateX itself is not affected.