The hacker who stole $5.8 million from the Solana-based Loopscale DeFi protocol on April 26 is negotiating to return the stolen funds in exchange for a bounty. The exploit involved approximately 5.7 million USDC and 1,200 Solana tokens taken from Loopscale’s yield vaults. Following the exploit, the hacker communicated their willingness to cooperate and suggested a bounty of 20% of the recovered amount. They indicated a commitment to return 5,000 wSOL immediately. Negotiations for the remaining funds are still in progress. The breach, which impacted 12% of Loopscale’s total value locked (TVL), led to temporary halts in some lending operations, although loan repayments and other certain functions have since resumed. Launched on April 10, Loopscale aims to enhance capital efficiency in decentralized finance by matching lenders and borrowers directly.

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