Loopscale Suspends Solana Lending Protocol After Attack Escalation

Loopscale suspended activity on its Solana lending protocol after security systems detected an escalation in attacks, following a week of sustained malicious requests to its API.

In a Nov. 5 disclosure, Loopscale said its API had received more than 30,000 malicious requests per day. The attacks targeted the protocol’s Solana (SOL) and USDC Genesis vaults.

Loopscale said the funding shortfall in the affected vaults was fully replenished and user deposits were not lost. It did not disclose the amount affected.

The protocol’s return to normal operations depends on determining the full scope of the attack and completing further security work. Loopscale plans to reopen its interface in the short term and restore repayments as soon as possible to reduce the risk of unintended liquidations.

Loopscale said it was working with federal law enforcement and security specialists.