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Official Updates
Chain: Solana

Ongoing

Jump to steps Updated 6 Nov 2026 · 5 steps

Loopscale Airdrop Status: Paused After Exploit

Loopscale runs a points program that could lead to an airdrop if the project launches its own token. After a recent exploit, vault withdrawals and most protocol functions are restricted, so we have paused our farming guide.

Do not lend, borrow or deposit on Loopscale for points right now. Read the warning below to see what currently works and how to handle funds you already have on the platform.

Warning: Loopscale Exploit, Do Not Farm For Now

Loopscale was exploited and most of the protocol is still restricted. We have pulled our farming guide. Do not deposit funds, lend or borrow on Loopscale for points until the team confirms full functionality is back.

What works right now (per Loopscale)

Collateral top-ups: available for all loans.
Repayments: available for all loans, except loans funded by the USDC Genesis Vault.
Collateral withdrawals: available after you fully repay a loan, except for loans funded by the USDC Genesis Vault, where they stay disabled.
Vault withdrawals: still restricted.
Everything else: still restricted while the team works on a safe restoration.

What happened

Loopscale says the attacker used two paths, both now identified and contained. In the first, a misconfigured combination of asset-pricing parameters in the SOL Genesis Vault let deposited collateral be valued as a different asset, which enabled an undercollateralized loan of about $412K. In the second, an atomic transaction bundle sold a loan with an extreme interest rate into the USDC Genesis Vault. This inflated the vault’s NAV and enabled an oversized redemption of about $521K, which Loopscale says its systems halted within 30 seconds.

Loopscale states that no user deposits will incur a loss.

How to handle funds you already have on Loopscale

Do not add new deposits or open new loans until full restoration is announced.
If a loan is close to liquidation, you can top up its collateral now.
If your loan is not funded by the USDC Genesis Vault, you can repay it in full and withdraw your collateral.
If you have funds in a vault, wait. Vault withdrawals are not open yet.
Only trust updates from Loopscale on X and the official Discord. Ignore DMs and “refund” or “claim” links, which are common after exploits.

We will update this page when Loopscale restores vault withdrawals and full protocol access.

Official Updates

Requirements

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What is Loopscale?

Loopscale is a new way to lend and borrow onchain with the best rates, any asset, and less risk. Built on Solana, Loopscale uses order book-based architecture to combine the efficiency of direct market matching with the familiar user experience of traditional lending pools—without sacrificing scalability and flexibility.