A recent exploit of the Loopscale protocol on Solana led to a theft of $5.8 million. The hacker is currently negotiating to return the funds.
Overview of the Loopscale Exploit
On April 26, the hacker stole approximately 5.7 million USDC and 1,200 Solana tokens from two of Loopscale's yield vaults, prompting the protocol to temporarily pause its lending markets.
Negotiations for Fund Return
The following day, the hacker sent a message on Etherscan expressing a willingness to return the stolen funds in exchange for a bounty. He stated a desire to negotiate a bounty percentage of 20% and mentioned he would return 5,000 wSOL immediately after communication.
Loopscale's Response to the Incident
After the exploit, Loopscale paused lending but has since resumed loan repayments and deposits. Other app functions remain temporarily restricted to prevent further incidents.
The Loopscale incident highlights the vulnerabilities in DeFi systems and the importance of rapid responses to threats.
