Loopscale recovers $2.8M after weekend DeFi hack and bounty talks

Loopscale fell victim to a $5.7 million exploit after attackers manipulated its RateX PT token pricing, draining funds from its USDC and SOL vaults.

DeFi protocol Loopscale has recovered nearly half of the funds stolen during a major exploit over the weekend, as white hat negotiations with the attacker show signs of progress.

In an April 29 update posted to X, Loopscale confirmed that approximately 19,463 Wrapped SOL (WSOL) (worth roughly $2.88 million) have been returned to its wallets since April 28.

The first two returns included 10,000 WSOL (~$1.48 million) and 4,463 WSOL (~$660,000), following an earlier recovery of 5,000 WSOL (~$740,000).

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