Loopscale hacker in talks to return stolen crypto
The hacker responsible for the $5.8 million Loopscale exploit is negotiating to return the stolen funds in exchange for a 20% bounty. The exploit occurred on April 26, with approximately 5.7 million USDC and 1,200 SOL tokens stolen from Loopscale's yield vaults, leading to a temporary pause in lending markets. The hacker expressed willingness to cooperate and stated they would return 5,000 wSOL immediately after sending a message on Etherscan. Ongoing negotiations are focused on the remaining funds. The exploit affected only USDC and SOL vaults, representing about 12% of Loopscale's total value locked. Following the attack, Loopscale has resumed loan repayments and top-ups but has restricted other app functions while investigating the incident. Loopscale, launched on April 10, aims to enhance capital efficiency in DeFi lending.
