Solana-based DeFi protocol Loopscale is offering a bounty of 3,947 SOL ($594,000) to the exploiter who hacked the protocol on Saturday. The attack resulted in losses exceeding $5.8 million, about 12% of its total value locked (TVL).
Loopscale acknowledged the vulnerability in its pricing system and offered a whitehat agreement. In exchange for returning 90% of the exploited funds (35,527 SOL), the exploiter would receive a 10% bounty.
The exploiter has indicated willingness to return the funds in exchange for the bounty on Sunday. Loopscale plans to share a plan for resuming withdrawals and release a full post-mortem in the coming days.