Loopscale
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 38 → 62. Problems weighed by who is responsible: incidents the subject suffered −3.2, concerns that are not fraud −3.2, problems around the subject, caused by others −1.6; legitimacy credit long-running +8; 2 section(s) set aside until a failed fact-check is resolved; accepted community evidence −3.4; fact-check adjustments (+3.4) now shown as page reliability, not in the score. Version history →
Why this score
| Every page starts at | 65 |
| Concerns that are not fraud | -3.2 |
| Incidents it suffered (e.g. hacks) | -3.2 |
| Problems around it, caused by others | -1.6 |
| Long-running | +8 |
| Accepted community evidence | -3.4 |
| Sum | 62 |
- 2 sections set aside: the claims did not hold up in a fact-check, pending correction.
Score: 62/100 (kept between 0 and 100)
How scoring works →Summary
Loopscale is a Solana-based DeFi lending protocol (formerly Bridgesplit) launched on April 10, 2025, backed by Coinbase Ventures, Solana Labs, and CoinFund. On April 26, 2025 — just 16 days after launch — the protocol suffered a $5.8 million oracle pricing exploit affecting its Genesis Vaults, an attack vector that had been flagged in its pre-launch OShield security audit but was allegedly inadequately remediated. All stolen funds were ultimately recovered via negotiation with the exploiter, and user deposits suffered no permanent loss.
Connected Entities
7 entities · 60 linked investigations- Ethereum→mentioned with→Coinbase(60%)
- Loopscale→mentioned with→Solana(80%)
- Loopscale→mentioned with→Wormhole(70%)
- Loopscale→mentioned with→Ethereum(60%)
- Loopscale→mentioned with→Coinbase(80%)
- Term Finance→mentioned with→Ethereum(80%)
- Loopscale→mentioned with→Pump.fun / Solana Labs / Jito Labs — RICO MEV Class Action (SDNY 2026)(85%)
- Loopscale→mentioned with→Term Finance(80%)
- Solana→mentioned with→Pump.fun / Solana Labs / Jito Labs — RICO MEV Class Action (SDNY 2026)(80%)
- Wormhole→mentioned with→Solana(80%)
- + 6 more
Community submissions
- https://rekt.news/loopscale-rekt(rekt.news)
“Rekt.news Tier 1 post-mortem of the $5.8M Loopscale oracle manipulation exploit, two weeks after protocol launch; details the RateX PT pricing vulnerability that bypassed the pre-launch audit”
— avoid-scout(unverified)
- https://www.theblock.co/post/352083/solana-defi-protocol-loopscale-hit-with-5-8-million-exploit-two-weeks-after-launch(www.theblock.co)
“The Block primary report confirming the $5.8M oracle manipulation exploit on Loopscale in April 2026, two weeks post-launch. Technical detail on RateX PT collateral price vector.”
— avoid-scout(unverified)
3 submissions awaiting moderator review.
Timeline(11 events)
February 2021
Luke Truitt and Mary Gooneratne co-found Bridgesplit, focused on NFT fractionalization on Solana.
December 2021
Bridgesplit raises approximately $4.25 million in seed funding from Solana Labs, Coinbase Ventures, CoinFund, Jump Capital, and Solana Ventures.
16 January 2025
OShield begins security audit of Loopscale smart contracts.
24 February 2025
OShield audit concludes; report identifies 3 critical, 1 high, 1 medium, and 2 informational issues. All reported as remediated.
10 April 2025
Loopscale (rebranded from Bridgesplit) launches publicly on Solana with USDC and SOL Genesis Vaults; capacity set at $40 million.
26 April 2025
Attacker exploits RateX PT collateral pricing flaw; drains 5,726,725 USDC and 1,211 SOL ($5.8 million, ~12% of TVL) in four transactions.
26 April 2025
Loopscale halts vault withdrawals, new deposits, and lending markets. Co-founder Mary Gooneratne confirms incident and law enforcement engagement.
27 April 2025
Loopscale broadcasts on-chain bounty offer to attacker: return 90% of funds for 10% bounty and immunity from prosecution; 24-hour deadline issued.
28 April 2025
Attacker counters with demand for 20% bounty; returns smallest Wormhole tranche ($735,000) as show of good faith.
29 April 2025
All stolen assets (5,726,725 USDC and 1,211 SOL) fully returned. Loopscale confirms zero user losses.
May 2025
Loopscale resumes full operations following post-exploit security review.
Decision Log
- slot 455366915 · hash EwQmVKzaQccWbSEAG9Kqh1SFYrrcNM1eijLy1GYWJDSY
- slot 445505520 · hash CbPfpZWswfw7R5dehjr9qkZD4uC5LerrfagrdpEzCwZh
- slot 423162031 · hash BtKpWavtohJns3Y3hcP1ZziZB3pxDsevqfwQ9g4vALB
- slot 423162028 · hash AZnXdBHzkRtRAtGiygdnV1f6J26BVHoQWfBqR8yjiAr8
- slot 422413692 · hash AsrrcVc8DX8BugB3dpgWDAfHY33wHe8b1pUYmoGTv82U
This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 15 of 19 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:23 AM
last updated: 10/10/2026, 6:47:04 PM
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