Loopscale Recovers $5.8 Million Stolen Funds After Hacker Bounty Agreement

Loopscale has successfully recovered the majority of funds stolen during an April 26 exploit, reaching a resolution with the attacker through a whitehat bounty program. The DeFi protocol confirmed all user deposits have been restored, with the hacker accepting a 10% bounty in exchange for immunity. 5.7 million USDC and 1,200 SOL were drained from Loopscale’s USDC and Solana vaults following a vulnerability exploited by the attacker.