Verify a decision

{"actor":"system:backfill","investigation_id":"baaab0fc-d2b6-4bba-966e-df154087f643","kind":"publish","page_slug":"loopscale","published_at":"2026-05-27T02:44:42.387Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Loopscale","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://cryptorank.io/ico/bridgesplit","type":"other","url":""},{"credibility":3,"name":"https://www.crunchbase.com/organization/loopscale","type":"other","url":""},{"credibility":3,"name":"https://www.rootdata.com/Projects/detail/Loopscale?k=MzE1NA%3D%3D","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.theblock.co/post/352083/solana-defi-protocol-loopscale-hit-with-5-8-million-exploit-two-weeks-after-launch","type":"other","url":""},{"credibility":3,"name":"https://rekt.news/loopscale-rekt","type":"other","url":""},{"credibility":3,"name":"https://www.halborn.com/blog/post/explained-the-loopscale-hack-april-2025","type":"other","url":""},{"credibility":3,"name":"https://www.web3isgoinggreat.com/?id=loopscale-exploit","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://github.com/oshieldio/Publications/blob/main/Loopscale/loopscale-v1.md","type":"other","url":""},{"credibility":3,"name":"https://rekt.news/loopscale-rekt","type":"other","url":""},{"credibility":3,"name":"https://www.vibraniumaudits.com/post/loopscale-exploited-for-5-8-million-just-two-weeks-after-launch","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/academy/article/loopscale-loses-dollar58-million-in-exploit-two-weeks-after-launch-halts-key-operations","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://invezz.com/news/2025/04/28/loopscale-hacker-accepts-bounty-offer-to-return-5-8-million-in-usdc-and-sol/","type":"other","url":""},{"credibility":3,"name":"https://crypto.news/hackers-behind-5-8m-loopscale-hack-agree-to-return-funds-in-exchange-for-10-bounty/","type":"other","url":""},{"credibility":3,"name":"https://blockchainreporter.net/loopscale-recovers-5-8m-after-exploit","type":"other","url":""},{"credibility":3,"name":"https://rekt.news/loopscale-rekt","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/academy/article/loopscale-loses-dollar58-million-in-exploit-two-weeks-after-launch-halts-key-operations","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://rekt.news/loopscale-rekt","type":"other","url":""},{"credibility":3,"name":"https://www.ainvest.com/news/solana-loopscale-suffers-5-8m-exploit-sparking-closed-source-debate-2504/","type":"other","url":""},{"credibility":3,"name":"https://www.auditone.io/blog-posts/the-loopscale-incident-a-case-study-in-oracle-exploitation","type":"other","url":""},{"credibility":3,"name":"https://coincodecap.com/loopscale-review","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://beincrypto.com/hackers-steal-7-million-defi-protocols-loopscale-term-finance/","type":"other","url":""},{"credibility":3,"name":"https://coinchapter.com/hackers-drain-7-million-in-loopscale-hack-and-term-finance-hack-amid-defi-exploits-2025/","type":"other","url":""},{"credibility":3,"name":"https://www.nasdaq.com/articles/crypto-market-recap-loopscale-faces-us-58-million-hack-coinbase-preps-new-institutional","type":"other","url":""}]}],"sources_used":[],"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.","timeline":[{"date":"2021-02-01","event":"Luke Truitt and Mary Gooneratne co-found Bridgesplit, focused on NFT fractionalization on Solana.","source":""},{"date":"2021-12-01","event":"Bridgesplit raises approximately $4.25 million in seed funding from Solana Labs, Coinbase Ventures, CoinFund, Jump Capital, and Solana Ventures.","source":""},{"date":"2025-01-16","event":"OShield begins security audit of Loopscale smart contracts.","source":""},{"date":"2025-02-24","event":"OShield audit concludes; report identifies 3 critical, 1 high, 1 medium, and 2 informational issues. All reported as remediated.","source":""},{"date":"2025-04-10","event":"Loopscale (rebranded from Bridgesplit) launches publicly on Solana with USDC and SOL Genesis Vaults; capacity set at $40 million.","source":""},{"date":"2025-04-26","event":"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.","source":""},{"date":"2025-04-26","event":"Loopscale halts vault withdrawals, new deposits, and lending markets. Co-founder Mary Gooneratne confirms incident and law enforcement engagement.","source":""},{"date":"2025-04-27","event":"Loopscale broadcasts on-chain bounty offer to attacker: return 90% of funds for 10% bounty and immunity from prosecution; 24-hour deadline issued.","source":""},{"date":"2025-04-28","event":"Attacker counters with demand for 20% bounty; returns smallest Wormhole tranche ($735,000) as show of good faith.","source":""},{"date":"2025-04-29","event":"All stolen assets (5,726,725 USDC and 1,211 SOL) fully returned. Loopscale confirms zero user losses.","source":""},{"date":"2025-05-01","event":"Loopscale resumes full operations following post-exploit security review.","source":""}]},"v":1}