Massive Hack Halts Solana's Loopscale Lending

Loopscale, a DeFi protocol on the Solana blockchain, has paused its lending services after a hack stolen approximately $5.8M in USDC and SOL. The cyber-attack accounted for 12% of Loopscale’s total value locked. Co-founder Mary Gooneratne asserts that their team is on a mission to investigate and recover the funds to protect users. In the first quarter of 2025, cryptocurrency hacks have totaled over $1.6B, with a significant portion attributed to North Korea's Lazarus Group targeting ByBit. As the crypto world battles rising threats, it's becoming glaringly evident that security should trump convenience.