Loopring Reports Hacking Incidents Affecting Smart Wallet Users

Loopring Reveals Series of Hacking Incidents

Loopring, an Ethereum Layer 2 protocol, discloses multiple hacking incidents affecting smart wallet users. The incidents are a combination of two separate but related events, leading to some users losing funds.

Loss of Funds in Loopring Relayer Attack

In April, Loopring’s relayer was targeted in an attack, resulting in the loss of internal assets. The team suffered significant losses as a result of this breach.

Subsequent Attack on Loopring Wallet Addresses

In June, another attack hit Loopring’s wallet addresses, causing 58 user accounts to lose funds. Users are reminded of their responsibility to secure their self-custody against potential threats.

Shift in Focus to Loopring Layer 3 and DeFi DApp

Following the security breach, Loopring announces a shift in focus towards the multi-network Loopring Layer 3 and DeFi DApp product suite. The wallet, though, will remain operational for existing users.

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