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Techub News reports that the on-chain lending protocol Loopscale on Solana has announced that it has re-enabled loan repayments, deposits, and the closure of revolving loans. Other application functions (including Vault withdrawals) remain temporarily restricted, and investigations are ongoing to ensure the mitigation of this vulnerability. Loopscale added that the root cause of this vulnerability has been identified as an independent issue related to the collateral pricing based on RateX, which is not related to RateX itself. The fund losses only affect depositors of the SOL and USDC genesis treasury, and a complete technical post-analysis will be released later.
Techub News previously reported that Loopscale was attacked by hackers today, resulting in a loss of approximately 5.88 million dollars in cryptocurrency assets.