Loopscale: Some deposits in the SOL Genesis Treasury may have indirect exposure to Drift.

MeNews · 2026-04-11T19:32:55+00:00

Solana on-chain lending protocol Loopscale states that it is not related to Drift, with the vast majority of funds being secure, but approximately $170k in the SOL Genesis treasury is associated with MarginFi, posing some indirect exposure. If any loss occurs, users will be fully compensated, and the deposit and withdrawal functions of the related treasury have been temporarily disabled.

MeNews

2026-04-11 19:32:55

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ME News Report, April 2nd (UTC+8), the Solana on-chain lending protocol Loopscale posted a tweet stating that it has no direct connection with Drift, and most of the product funds are safe, including USDC Genesis and USDC OnRe vaults. However, approximately $170k in deposits in the SOL Genesis vault are allocated to MarginFi, with a small portion possibly having an indirect exposure through Project0 borrowers using Drift positions as collateral. If any losses occur, the official will fully compensate the affected users. Additionally, the deposit and withdrawal functions for the SOL Genesis, JitoSOL ONE, and wETH ONE vaults have been temporarily disabled and will be reopened once MarginFi resumes normal operations. (Source: Foresight News)

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