SOLANA DEFI PROTOCOL LOOPSCALE HIT WITH $5.8 MILLION EXPLOIT TWO WEEKS AFTER LAUNCH

Summary from the TLDR Crypto newsletter

Solana-based DeFi protocol Loopscale suffered a $5.8 million exploit just two weeks after launch due to a flaw in the pricing mechanism of its RateX-based collateral. The team is collaborating with law enforcement to investigate the incident and recover funds while progressively restoring platform functionality following a temporary suspension of services.