loopscale

The rapidly evolving landscape of decentralized finance (or DeFi) is filled with promise, but also threat. DeFi has created unique opportunities that never existed before. For example, just last month, Loopscale, an emerging DeFi project, lost $2.8 million in a smart contract exploit from a highly technical hack. This event...

Loopscale is still celebrating with its partial recovery of money and victory. This success is made possible thanks to a 10% bounty offer. Before we uncork the champagne, let's ask a tougher question: Are we setting a dangerous precedent? Are we truly rewarding criminal behavior here and actually incentivizing more...

Loopscale, a decentralized finance (DeFi) platform, has managed to recover around $2.8 million after being exploited in a major exploit over the weekend. Negotiations with the exploiter, who stole $6 million in assets from Loopscale’s multi-chain vaults on April 26, preceded this recovery. This incident is illustrative of an alarming...

DeFi’s promise – a word of finance free from the intermediaries we’ve grown to distrust – is intoxicating. One of the biggest hacks ever — the near $6 million Loopscale heist — should serve as a wake-up call. It’s not only about the dollars, it’s about the systemic risk that...

Loopscale has deep dived on recovering funds that were stolen in an exploit on April 26, with $5.8 million successfully recovered thus far. The settlement agreement The company announced that all user funds have been refunded, a big step in recovering from the hack. As part of the deal, the...

The rapidly changing world of Decentralized Finance (DeFi) is moving at an unprecedented speed. AI indeed presents exhilarating innovations and untapped potential, yet it equally entails considerable dangers. At MetaBlock X, we aim to help inform and empower you to cut through the noise and act with clarity and confidence...

Picture this – you wake up, check your DeFi portfolio and…surprise!…almost six million dollars just disappeared. That's the gut-wrenching reality for users of Loopscale's USDC and SOL vaults after the recent hack. But here's the kicker: Loopscale essentially paid the hacker a $580,000 "whitehat" bounty and gave them immunity from...

Loopscale, a decentralized finance (DeFi) platform, is here to change that. The white hat hacker behind the recent exploit has already reached an agreement to return the stolen funds. The settlement follows Loopscale posting a whitehat bounty for the return of 90% of the stolen assets. The total value of...

Loopscale made a deal with a hacker. They got most of their money back. Sounds like a win, right? Maybe not. This ends up being not a straightforward “good guys win” narrative, but rather a possible Pandora’s Box for the whole DeFi paradigm. Let's unpack the implications, shall we?Is Extortion...

To be sure, this sword cuts both ways. On the one hand, it presents unprecedented opportunities to innovate financially and provide equitable access. On the other hand, it’s an absolute training ground for hackers. By September 2022, DeFi platforms had already lost an estimated US$2.32 billion to these exploits. In...