• About Us
  • Careers
  • Contact
No Result
View All Result
Saturday, October 25, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News Crypto

Loopscale Hackers Agree to Return $5.8 Million in Exchange for 10% Bounty

28 April 2025
in Crypto, News
Reading Time: 3 mins read
107 2
Loopscale Hackers Agree to Return $5.8 Million in Exchange for 10% Bounty

Source: Invezz

Decentralized finance (DeFi) platform Loopscale has agreed with the hackers responsible for its recent $5.8 million exploit. The hackers have decided to return most of the stolen funds in exchange for a 10% bounty, marking a rare instance of an amicable resolution in the crypto security landscape.

On April 26, Loopscale suffered a significant breach when attackers manipulated the pricing of its RateX PT token. This manipulation led to a loss of approximately $5.7 million in USD Coin (USDC) and 1,200 Solana (SOL) from the platform’s vaults. The exploit targeted depositors in the USDC and SOL vaults, while the RateX collateral system remained unaffected.

In response, Loopscale immediately restricted vault withdrawals and temporarily halted all markets to investigate the incident. On April 27, the platform publicly proposed a whitehat bounty deal to the hacker: return 90% of the stolen assets (approximately 35,527 SOL) and receive a 10% reward (around 3,947 SOL) and immunity from legal actions.

By April 28, the hacker agreed to the terms, signalling a willingness to return the stolen funds and claim the bounty. Loopscale expressed gratitude for the hacker’s cooperation and promised to provide updates on the resumption of vault withdrawals and a detailed post-mortem of the breach in the coming days.

In the first quarter of 2025, the cryptocurrency sector experienced significant security challenges, with over $1.6 billion lost to hacks, the highest quarterly total recorded. High-profile breaches continued into Q2, including thefts from SIR.trading ($572,000), ZKSync ($5 million), and KiloEx ($7 million). Loopscale’s strategy of negotiation and bounty incentives to address hacks may serve as a potential model for other DeFi platforms dealing with similar issues.

Notably, the North Korean Lazarus Group uses deceptive tactics by creating fake cryptocurrency companies to distribute malware. These sham entities, including BlockNovas, Angeloper Agency, and SoftGlide, posed as legitimate businesses offering job opportunities in the crypto sector. 

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Tags: CryptoDeFiLoopscale
Share64Tweet40Share11
Bobby Okposin

Bobby Okposin

Related Posts

source: ts2.tech
Crypto

Nevada Shuts Down Fortress Trust Amid Insolvency Concerns as U.S. Tightens Crypto Custody Rules

24 October 2025
source: theblock.co
Crypto

Polymarket Bets Spike as Traders See 12% Chance of Trump Pardoning FTX Founder Sam Bankman-Fried

24 October 2025
source: financialit.net
Bitcoin

ChainUp Investment CIO Says Bitcoin Rally Marks Institutional Phase of Digital Assets

24 October 2025
Crypto Bank Sygnum Plans EU and Asia Expansion Following Profitable First Half of 2024
Bitcoin

Sygnum and Debifi Partner to Launch MultiSYG, a Non-Custodial Bitcoin Loan Platform

24 October 2025

Editors Picks

Mining vs. Staking: Which Crypto Validation Method Will Shape the Future?

Mining vs. Staking: Which Crypto Validation Method Will Shape the Future?

byOlajumoke Oyaleke
15 July 2025
0

Where Are the Ethereum-Killers Now?

Where Are the Ethereum-Killers Now?

byOlayinka Sodiqand1 others
6 January 2025
0

source: investorplace.com

How to Find the Newest Cryptocurrencies Before They’re Listed

byOlayinka Sodiq
30 December 2024
0

Exploring the Role of AI in Enhancing DeFi Security

Exploring the Role of AI in Enhancing DeFi Security

byOlayinka Sodiq
1 October 2024
0

The Ultimate Guide to How NFT Royalties Work

The Ultimate Guide to How NFT Royalties Work

byAdedamola Ojedokun
17 April 2024
0

Read More

Chain of Thoughts

The Aesthetics of Web3: Why Vibe Matters in Decentralized Communities

The Aesthetics of Web3: Why Vibe Matters in Decentralized Communities

byOlu Omoyele
27 September 2025
0

...

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

byOlu Omoyele
30 August 2025
0

...

What Happens When AI Gets a Wallet?

What Happens When AI Gets a Wallet?

byOlu Omoyele
31 July 2025
0

...

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Markets Update

Your Weekend Crypto Roundup | October 2025 (Week 4)

18 hours ago

A New Age of Money: Should Every Currency Have Its Own Stablecoin?

18 hours ago

Inside Africa’s Financial Reinvention: The Surge of Stablecoin Adoption

19 hours ago

The Digital Money War: Can Traditional Banks Win Against Crypto?

20 hours ago

Crypto in Latin America: Adoption Booms as Media Visibility Falls, Outset PR Finds

4 days ago

Your Weekend Crypto Roundup | October 2025 (Week 3)

1 week ago
Read More

Events

  • No events
  • Spotlight

    All about Ethereum
    All about Algorand
    All about Bitcoin
    All about Gora

    Press Releases

    RIVER Gains 5x Following Binance Perp Listing, Supported by Time-Encoded Airdrop Conversion

    bychainwire
    24 October 2025
    0

    Trezor Launches Trezor Safe 7: First Hardware Wallet With Transparent Secure Element

    bychainwire
    23 October 2025
    0

    Roba Shatters Closed Systems: The People’s Robotics Platform Launches To Dominate $218b Industry

    bychainwire
    23 October 2025
    0

    Aster Unveils Rocket Launch: A Gateway to Early-Stage Crypto Projects and Trading Rewards

    bychainwire
    23 October 2025
    0

    Phemex Upgrades Rewards Hub with $15,000 Package And Mystery Box System

    bychainwire
    22 October 2025
    0

    Read More

    ADVERTISING

    ABOUT

    TEAM

    CAREERS

    CONTACT

    TERMS & CONDITIONS

    PRIVACY POLICY

    © Copyright 2025 DeFi Planet

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • News
      • People
      • Business
      • Crime
      • Regulation
      • Crypto
      • CBDC
    • Markets
      • Bitcoin
      • Ethereum
      • Stablecoins
      • Altcoins
      • Crypto ETFs
      • Memecoins
    • Policy
    • Articles
      • Press Releases
      • Opinion
      • Explainers
      • Guest Post
      • Sponsored
    • Directory
      • Companies
      • People
      • Products
      • Wallets
    • Multimedia
      • Videos
      • Podcasts
    • Learn
      • DeFi Basics
      • Tutorials
      • Reviews
      • Blockchain Fundamentals
    • Research
      • Case Studies
    • Explore
      • DeFi
      • Crypto Gaming
      • NFT
      • DAO
      • Metaverse
      • Glossary
    • Jobs
    • Markets Pro
      • DeFi Planet Pro
      • Spend Crypto
      • Swap Crypto
      • Coin Prices
      • Crypto Exchanges
      • Crypto Analyzer

    © Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

    -
    00:00
    00:00

    Queue

    Update Required Flash plugin
    -
    00:00
    00:00