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The on-chain lending protocol Loopscale on Solana has suffered an attack today, resulting in the theft of approximately 5.7 million USDC and 1,200 SOL. The protocol has released an event update on platform X, and loan repayment, deposit, and closed-loop loan functionalities have been restored. Other application features (including Vault withdrawals) remain temporarily restricted, and an investigation is ongoing to ensure the mitigation of this vulnerability. Loopscale added that the root cause of this vulnerability has been identified as an independent issue related to the collateral pricing based on RateX, which is not related to RateX itself. The financial loss only affects depositors of the SOL and USDC genesis treasury, and a complete technical post-analysis will be released subsequently.