Loopscale: Majority of Products Unaffected by Drift Incident, $170,000 Indirect Exposure in SOL Vault

BlockBeats News, April 2 — Solana ecosystem lending protocol Loopscale posted on the X platform stating that most of its products (including the USDC Genesis and USDC OnRe vaults) were not directly impacted by the Drift incident, and funds remain secure. Approximately $170,000 in deposits within the SOL Genesis vault are allocated to MarginFi, with a small portion potentially having indirect exposure through Project0 borrowers' Drift position collateral. In the event of any losses, Loopscale will fully compensate affected users. Due to MarginFi's suspension of protocol functionality, deposit and withdrawal operations for the SOL Genesis, JitoSOL ONE, and wETH ONE vaults are temporarily closed. Loopscale will reopen these functions once MarginFi resumes normal operations and will provide timely updates to users on the progress.