Solana-Based Crypto Project Loses Millions After Recent Hack

The exploit targeted a specific market within the platform and was traced back to an issue with how Loopscale priced RateX-based collateral, according to a statement on X. Originally known as Bridgesplit, Loopscale pivoted from its early focus on NFT-based yield products to launching an order book lending platform in April. Unlike typical pool-based lenders like Aave or Solend, Loopscale’s model aimed to offer borrowers more predictable rates and stability. Backed by investors including Solana Labs and Coinbase Ventures, the project raised $4 source: https://coindoo.com/solana-based-crypto-project-loses-millions-after-recent-hack/