<ul><li>Loopscale, a Solana-based lending platform, lost $5.8M (12% of TVL) in a sophisticated hack targeting RateX-based collateral pricing.</li><li>Vulnerabilities in collateral pricing mechanisms were exploited despite previous audits, leading Loopscale to temporarily pause key operations.</li><li>Loopscale, formerly known as Bridgesplit, aimed to provide more stable lending through an order book model.</li><li>The incident highlights the ongoing vulnerability of audited DeFi platforms, raising concerns about security standards.</li></ul>

Devastating Solana Hack as Loopscale Loses 5.8M in DeFi Exploit

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