According to a report from Jinse Finance, Loopscale has released an update on the hacking incident on the X platform, disclosing that the work to re-enable Vault withdrawals is nearing completion, with withdrawals expected to be ready in the coming days. Loopscale had previously disclosed that the final recovered fund balance is 5,697,102.5 USDC and 1,215 SOL. All Loopscale vaults, including the Genesis vault (SOL, USDC, and USDG) and others (jitoSOL and fragSOL), will be subject to a 24-hour withdrawal limit per user and per vault, aimed at mitigating liquidity shocks and preventing a sharp rise in borrowing interest rates.
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Loopscale: Vault withdrawals are expected to resume in the coming days.
According to a report from Jinse Finance, Loopscale has released an update on the hacking incident on the X platform, disclosing that the work to re-enable Vault withdrawals is nearing completion, with withdrawals expected to be ready in the coming days. Loopscale had previously disclosed that the final recovered fund balance is 5,697,102.5 USDC and 1,215 SOL. All Loopscale vaults, including the Genesis vault (SOL, USDC, and USDG) and others (jitoSOL and fragSOL), will be subject to a 24-hour withdrawal limit per user and per vault, aimed at mitigating liquidity shocks and preventing a sharp rise in borrowing interest rates.