Loopscale, a Solana lending protocol, has resumed deposits and withdrawals across all its vaults after an attack-related pause. The team says a technical post-mortem will follow, but it has not yet given a final loss-and-recovery accounting.
Loopscale said on Nov. 7 that deposits and withdrawals had resumed across all vaults, along with full loan management functionality. The announcement reopens the Solana lending protocol after an attack-related pause.
Vault withdrawals had been restricted since at least its Nov. 5 pause announcement, roughly two and a half days before the reopening update.
USDC Genesis Vault returns to service
The restoration includes the USDC Genesis Vault. During an earlier partial reopening, borrowers funded by that vault remained unable to repay loans or withdraw collateral. Other borrowers could repay and reclaim collateral after full repayment, but withdrawals from all vaults stayed frozen.
However, restored access does not mean unlimited immediate withdrawals. The protocol's documentation says withdrawals remain subject to available liquidity. The vault's public interface showed about $7 million supplied.
Two attack paths and the losses Loopscale reported
In its initial pause statement, Loopscale said the affected SOL and USDC Genesis vaults had been made whole and no user deposits had incurred a loss.
In a later account, the team said it had identified and contained two attack paths involving program logic and private transaction-building APIs. It attributed an undercollateralized loan of approximately $412,000 from the SOL Genesis Vault to pricing parameters that valued deposited collateral as a different asset.
At the USDC Genesis Vault, Loopscale said a bundle of transactions sold a loan carrying an extreme interest rate into the vault. That inflated its net asset value and enabled a disproportionate redemption of approximately $521,000. The team said its systems halted that activity within 30 seconds of transaction generation.
Security details still pending
Loopscale had tied a return to normal operations to establishing the campaign's full scope and implementing further security hardening. Its reopening statement did not detail those changes or provide a final loss-and-recovery accounting. The team promised a full technical post-mortem soon, without setting a publication date.
Source: The Defiant
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