The decentralized finance sector (DEFI) was faced with another major setback this weekend while two protocols, Loopscale and Term Finance, underwent more than $ 7 million in losses.
These incidents have fueled increasing concerns concerning the vulnerabilities of the DEFI platforms in 2025.
Loopscale loses $ 5.8 million in major exploits
On April 26, Loopscale, based in Solana, reported a significant security violation impacting its USDC and Sol Vaults.
The feat drained approximately $ 5.8 million, which represents around 12% of the total value of the platform. In particular, this attack occurred just two weeks after the official launch of Loopscale.
The co-founder of Loopscale, Mary Gooneratne, confirmed that an attacker had exploited the system by obtaining sub-collateralized loans.
Investigations revealed that the deep cause came from an isolated problem in the platform -based collateral pricing system.
However, Loopscale clarified that Ratex himself was not compromised.
“The deep cause of the feat has been identified as an isolated problem with the pricing by loopscale guarantees based on ratex. There is no problem with Ratex itself.
After the violation, Loopscale temporarily stopped all markets to assess the damage.
The platform has since resumed partial operations, allowing key functions such as loan repayments, recharges and loop closures, while withdrawal of the safe remain restricted.
To recover the stolen funds, Loopscale offered a 10% bonus to the attacker and proposed a Whitehat agreement.
The platform requested the yield of 90% of stolen assets and warned against legal action if the attacker had not responded on April 28.
“We agree to allow you to keep a bonus of 10% of funds (3,947 soil) and to free yourself from any responsibility concerning the attack,” added Loopscale.
Loopscale is currently working with security companies and law enforcement agencies to manage the situation.
The long -term finance undergoes a loss of liquidation of $ 1.5 million
Meanwhile, the financial term based in Ethereum, a pioneer in a scalable fixed rate loans, also reported a security incident on April 26.
The Tenarmororor Blockchain Safety Company has identified two suspicious transactions linked to long -term laboratories, causing losses of approximately 1.5 million dollars.
“It seems that something is wrong with the liquidation. Someone spent a very small amount of ETH to liquidate more than 586 hut guarantees in the trees,” said Tenarmororor.
The term finance later confirmed that a defective update of his Teth Oracle had caused the problem. Fortunately, no intelligent contract was used and the problem was contained in the Teth markets.
The platform has assured users that all other funds remain secure and have engaged in a full reimbursement plan for affected people.
These attacks contribute to a disturbing trend in 2025, crypto projects losing nearly $ 2 billion this year.
High -level incidents such as the hacking of $ 1.46 billion by Bybit in February shaken trust in the industry.
Tim Haldorsson, founder of Lunar Strategy, wondered if the DEFI yields justify the risks being operations.
He suggested that the DEFI yields could be lagging behind traditional investments such as bonds once adjusted for losses related to hacking.
“To what extent is all this challenge? We chas the yield, but it is really adjusted to piracy than to hold obligations,” asked Haldorsson.
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