Solana decentralized finance (DeFi) protocol Loopscale temporarily halted its lending markets after suffering an approximately $5.8 million exploit.

Loopscale, a so-called decentralized finance (DeFi) protocol operating on the Solana blockchain, fell victim to a significant security breach.

Solana-based lending protocol Loopscale was exploited for $5.8 million on Saturday, about two weeks after its launch on April 10.

In Sigel view, Solana doesn’t necessarily need a Saylor — but it needs someone who understands risk, timing, and volatility. “Most crypto bull markets kind of end in a blow-off leverage top.

The hacker behind the $5.8 million recent Loopscale exploit is in talks to return the stolen funds in exchange for a bounty, the Solana-based protocol said.

Loopscale, a decentralized finance (DeFi) protocol built on Solana, has suspended its lending operations following a $5.8 million exploit.The incident occurred on April 26, when a hacker drained 5 ...

Loopscale temporarily halted its lending markets after a hacker siphoned roughly $5.8 million from the Solana DeFi protocol.