🔓 LOOPSCALE REOPENS LENDING AFTER BLOCKING 2 ATTACKS WORTH $933,000
🔓 Priority lending reopens
Loopscale has restored priority lending. All loans can now receive additional collateral, and borrowers can repay and withdraw their collateral after paying in full, except for loans funded by the USDC Genesis Vault. Collateral withdrawals for loans from the USDC Genesis Vault remain temporarily disabled, while vault withdrawals and other functions are still restricted.
🛡️ Two attacks blocked in 30 seconds
The team identified and stopped two attack methods: one exploited a mispricing parameter, causing collateral in the SOL Genesis Vault to be incorrectly valued and enabling an undercollateralized loan of approximately $412,000; the other used an atomic transaction bundle to sell a high-interest loan into the USDC Genesis Vault and withdraw approximately $521,000. The system blocked the transaction within 30 seconds. Loopscale confirmed that users’ deposits were not affected by the incident.
🌤️ The recovery is taking place in stages as the team continues working on the functions that remain restricted.
$SOL
🔓 Priority lending reopens
Loopscale has restored priority lending. All loans can now receive additional collateral, and borrowers can repay and withdraw their collateral after paying in full, except for loans funded by the USDC Genesis Vault. Collateral withdrawals for loans from the USDC Genesis Vault remain temporarily disabled, while vault withdrawals and other functions are still restricted.
🛡️ Two attacks blocked in 30 seconds
The team identified and stopped two attack methods: one exploited a mispricing parameter, causing collateral in the SOL Genesis Vault to be incorrectly valued and enabling an undercollateralized loan of approximately $412,000; the other used an atomic transaction bundle to sell a high-interest loan into the USDC Genesis Vault and withdraw approximately $521,000. The system blocked the transaction within 30 seconds. Loopscale confirmed that users’ deposits were not affected by the incident.
🌤️ The recovery is taking place in stages as the team continues working on the functions that remain restricted.
$SOL
