A new Solana-based <button class="define-target" id="defi">defi</button> protocol called Loopscale, backed by Coinbase Ventures and Solana Labs, suffered a $5.8&nbsp;million exploit only two weeks after its launch. The stolen funds represented 12% of the protocol's <button class="define-target" id="tvl">TVL</button>. The project blamed the exploit on a bug in the protocol's pricing calculations. Although the project had been <button class="define-target" id="audit">audited</button> in February by OShield, the audit evidently did not detect the flaw.

"Solana DeFi protocol Loopscale hit with $5.8 million exploit two weeks after launch"

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Loopscale hacked for $5.8 million two weeks after launch