Loopscale Restores Some Lending, Says Deposits Took No Losses
Photo: TokenPost
Loopscale says it has restored priority lending functions after containing two attack paths, while user deposits suffered no losses and some withdrawal options remain restricted. Priority lending is available again, and every loan can accept additional collateral. Borrowers may repay all loans except those funded by the USD Coin (USDC) Genesis Vault; borrowers who pay in full can then withdraw their collateral. Loopscale identified one path in which a pricing configuration error caused collateral deposited in the Solana (SOL) Genesis Vault to be valued as a different asset. The mispricing enabled about $412,000 in borrowing without sufficient collateral.
Source: TokenPost
