Loopscale Suspends Solana Lending After API Request Attack
Loopscale temporarily stopped lending operations after a week of malicious API traffic targeted at its SOL and USDC Genesis vaults.
Loopscale temporarily stopped lending operations after a week of malicious API traffic targeted at its SOL and USDC Genesis vaults. USDC (USDC) is trading at $0.9997. This is an original TLT brief based on reporting by The Cryptonomist, with live market data added, as of Thu, 05 Nov 2026 17:45:02 UTC.
The incident shows how API-layer abuse can interrupt a lending protocol without necessarily compromising deposited assets. It also highlights the operational and reputational risks facing protocols that expose transaction and vault services through application programming interfaces.
- Loopscale paused operations after a week of malicious API requests exceeding 30,000 daily.
- SOL and USDC Genesis vaults were targeted in the campaign.
- Affected vaults were reportedly made whole, while deposits were described as safe.
- SOL fell 6.45% over 24 hours as the broader crypto market declined.
- Kamino Launches Tokenized Equity-Backed Lending on Solana
- Loopscale Suspends Solana Lending After API Request Attack — this brief
Loopscale, a lending protocol built on 
Solana, temporarily halted its operations after a sustained API attack generated more than 30,000 malicious requests per day over the course of a week. The Cryptonomist and Crypto.news both describe the incident as targeting the protocol through repeated API traffic rather than presenting it solely as an on-chain theft.
The campaign focused on Loopscale’s SOL and 
USDC Genesis vaults, according to the two outlets’ coverage of the protocol’s November 5 statement. Crypto.news says users’ deposits remain safe, while The Cryptonomist reports that the affected vaults were made whole. No loss amount was supplied in either account.
The accounts corroborate the central facts: the duration of the campaign, the scale of more than 30,000 daily requests, the temporary suspension, and the specific vault assets involved. Their principal difference is one of emphasis. Crypto.news centers the continued safety of deposits, whereas The Cryptonomist highlights remediation through restitution for the affected vaults.
The reported targets connect the incident to two major parts of the Solana-based lending market: a SOL-denominated vault and a USDC-denominated vault. The verified USDC circulating supply was $71B according to DeFiLlama, while USDC itself traded at $0.999627 and was essentially unchanged over both 24 hours and seven days. That stability contrasts with SOL’s sharper decline during the same market backdrop.
Market conditions were broadly negative when the data was captured. Solana traded at $90.09, down 6.45% over 24 hours and 11.98% over seven days, with a $53.18B market capitalization. 
Bitcoin fell 5.21% over 24 hours as the total crypto market capitalization stood at $2.63T, while the Fear & Greed index registered 50, or Neutral. The attack adds an operational-security concern for a lending protocol active amid broad market weakness, making continued vault availability and the scope of remediation the relevant points to monitor.
Since this brief published about 2 hours ago, USDC (USDC) has moved from $0.9996 to $0.9997 — +0.00%.
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 TLT'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 ≈ ₦1,381.48 (about $0.9997), down 0.0% over 24 hours. The naira itself trades about 2.6% above the official rate on the P2P market, so a Nigerian 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.
TLT 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 Suspends Solana Lending After API Request Attack — questions & answers
What caused Loopscale to suspend lending operations?
Loopscale said malicious API traffic exceeded 30,000 requests per day during a week-long campaign targeting its SOL and USDC Genesis vaults.
Were user deposits affected by the attack?
Crypto.news reports that user deposits remain safe, while The Cryptonomist says the affected vaults were made whole. Neither outlet supplied a loss figure.
How did Solana and USDC perform after the incident?
SOL fell 6.45% over 24 hours to $90.09, while USDC traded near $0.999627 and was nearly flat.
How much is 1 USDC worth in naira today?
About ₦1,381.48 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $0.9997. The naira price moves with both USDC's US-dollar price and the USDT/NGN rate; use our USDC in naira page for any amount.
Which outlets reported this story?
This is an original TLT 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 TLT 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.