Jack Paul 
Loopscale announced on Nov. 7 that deposits and withdrawals have resumed across all vaults, along with full loan management functionality. The update reopened the Solana lending protocol after an attack-related pause that had restricted vault withdrawals for roughly two and a half days.
Access Returns Across Vaults
The restoration includes the $USDC Genesis Vault. In a partial reopening reported earlier by The Defiant, borrowers funded by that vault still could not repay loans or withdraw collateral. Other borrowers could repay and reclaim collateral after full repayment, and collateral top-ups were available for all loans. However, withdrawals from every vault remained frozen until the Nov. 7 update.
Loopscale’s vaults pool a single asset and lend it across borrowing markets. The public interface for the $USDC Genesis Vault showed about $7 million supplied. Restored access does not mean unlimited immediate withdrawals: the protocol’s documentation states that withdrawals remain subject to available liquidity.
What Went Wrong
In its first pause statement, Loopscale said the affected $SOL and $USDC Genesis vaults had been made whole and that no user deposits had taken a loss. In a later account, the team said it had identified and contained two attack paths involving program logic and private transaction-building APIs.
For the $SOL Genesis Vault, Loopscale tied an undercollateralized loan of roughly $412,000 to pricing parameters that valued deposited collateral as a different asset. For the $USDC Genesis Vault, the team said a bundle of transactions sold a loan with an extreme interest rate into the vault. That inflated the vault’s net asset value and allowed a disproportionate redemption of about $521,000. Loopscale said its systems halted that activity within 30 seconds of transaction generation.
Limits and Open Questions
Loopscale had linked a return to normal operations to establishing the campaign’s full scope and adding security hardening. Its reopening statement did not detail those changes or provide a final loss-and-recovery accounting. The team promised a technical post-mortem soon, without setting a publication date. For now, users have access again, but the full picture of the incident and the fixes may take longer to emerge.