Loopscale pauses Solana lending after sustained API request attack
Loopscale temporarily stopped lending operations after detecting a week-long campaign of malicious API requests targeting its Solana-based vaults.
Loopscale temporarily stopped lending operations after detecting a week-long campaign of malicious API requests targeting its Solana-based vaults. USDC (USDC) is trading at ₹94.59 ($0.9997). This is an original Token Times brief based on reporting by The Cryptonomist, with live market data added, as of Thu, 05 Nov 2026 17:00:01 UTC.
The incident shows how automated request attacks can interrupt a lending protocol even without a reported loss of user funds. It also places short-term pressure on SOL-linked activity while broader crypto markets remain weak.
- Loopscale paused lending after a week-long API attack
- Cryptonomist reports over 30,000 malicious daily requests
- SOL and USDC Genesis vaults were the reported targets
- Loopscale says user deposits remain safe
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- Loopscale pauses Solana lending after sustained API request attack — this brief
Loopscale temporarily paused its lending operations after a sustained attack against its API. According to the protocol’s November 5 statement, the campaign lasted roughly a week and focused on the SOL and 
USDC Genesis vaults. Crypto.news reports that Loopscale’s security systems detected the malicious-request activity, prompting the suspension of lending services.
The Cryptonomist reports that the attack generated more than 30,000 malicious requests each day. That outlet also says Loopscale stated that the affected vaults were compensated and that users experienced no loss, while Crypto.news highlights the team’s assurance that deposits remained safe. The available coverage does not identify who launched the campaign or explain the technical mechanism behind the requests.
The two accounts corroborate the central sequence: an extended request-based attack, targeting of the two named vaults, temporary operational shutdown, and a team statement that user funds were secure. The Cryptonomist quantifies the scale of the request flood and gives more detail about compensation for the affected vaults; Crypto.news places greater emphasis on the absence of harm to depositors. Neither account reports continued lending activity or a stated timetable for restoring services.
Loopscale operates as a 
Solana-based lending protocol, placing the incident within a broader DeFi market where the relevant assets include SOL and USDC. DeFiLlama’s live data puts USDC’s circulating supply at $71.1 billion, while the quoted USDC market capitalization is $70.8 billion. The supplied coverage does not report any withdrawal activity, unrealized losses, or change to vault balances beyond Loopscale’s own account that affected vaults were compensated and deposits remained safe.
Market conditions were subdued during the reporting period. SOL traded at $89.95, down 7.05% over 24 hours and 11.49% over seven days, with a $53.11 billion market capitalization. USDC was nearly unchanged at $0.999809, up 0.02% over 24 hours and 0.03% over seven days. The total crypto market capitalization stood at $2.62 trillion, 
Bitcoin fell 5.45% over 24 hours, and the Fear & Greed index registered 50, or Neutral. The immediate issue to monitor is whether Loopscale restores lending operations and provides further detail on the request campaign and its aftermath.
Since this brief published about 2 hours ago, USDC (USDC) has moved from ₹94.60$0.9998 to ₹94.59$0.9997 — -0.01%.
The chart plots USDC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 USDC ≈ ₹104.29 (about $0.9997), up 0.0% over 24 hours. The rupee itself trades about 10.3% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · November 5, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Loopscale pauses Solana lending after sustained API request — questions & answers
What caused Loopscale to pause lending?
Loopscale said malicious API requests targeted its SOL and USDC Genesis vaults during a week-long campaign, prompting a temporary suspension of lending operations.
How large was the reported request attack?
The Cryptonomist reports more than 30,000 malicious requests per day, while Crypto.news describes a week-long campaign without repeating that figure.
Were user deposits lost in the incident?
Loopscale reported no user-fund loss. The Cryptonomist says affected vaults were compensated, and Crypto.news says user deposits remained safe.
How much is 1 USDC worth in rupee today?
About ₹104.29 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $0.9997. The rupee price moves with both USDC's US-dollar price and the USDT/INR rate; use our USDC in rupee page for any amount.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from The Cryptonomist. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.