Loopring
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anchored·5K9uRt…48hVSummary
Loopring is an Ethereum Layer-2 zkRollup-based decentralized exchange protocol founded in 2017 by Daniel Wang. The protocol suffered a critical June 2024 security breach in which an attacker compromised the Official Guardian two-factor authentication server, draining approximately $5 million from 58 smart wallet accounts. Subsequent to the hack, Loopring wound down its consumer wallet product, shut down DeFi services, lost listings on major exchanges including Binance, Upbit, and Bithumb, and saw its CEO resign in August 2025, leaving the project's long-term viability in serious question.
Connected Entities
5 entities · 60 linked investigations- Taiko→mentioned with→Ethereum(80%)
- Taiko→mentioned with→Loopring(70%)
- Binance→mentioned with→Ethereum(65%)
- Arbitrum→mentioned with→Binance(65%)
- Loopring→mentioned with→Taiko(70%)
- Loopring→mentioned with→Arbitrum(60%)
- Loopring→mentioned with→Ethereum(75%)
- Loopring→mentioned with→Binance(70%)
- Arbitrum→mentioned with→Ethereum(80%)
Timeline(15 events)
August 2017
Loopring conducts ICO, raising approximately 120,000 ETH (~$45M).
4 September 2017
People's Bank of China bans ICOs; Loopring refunds approximately 85%+ of raised ETH to investors.
2020
Loopring launches public zkRollup exchange at loopring.io.
10 November 2021
LRC reaches all-time high of approximately $3.83 amid bull market speculation.
2022
Founder Daniel Wang departs CEO role; joins Taiko Labs. Steve Guo assumes CEO.
9 June 2024
Attacker compromises Loopring's Official Guardian 2FA server via malware planted on AWS infrastructure; 58 smart wallets drained of approximately $5 million, consolidated to address 0x44f887cfbd667cb2042dd55ab1d8951c94bb0102.
10 June 2024
Loopring suspends Guardian and 2FA operations; engages SlowMist security firm; reports incident to Singapore police.
June 2024
LRC price drops to a multi-month low following disclosure of the hack.
2026
Upbit, Bithumb, and Korbit place LRC on delisting watchlists citing disclosure deficiencies and sustainability concerns.
30 June 2025
Loopring Smart Wallet mobile application officially ceases operations.
31 July 2025
Loopring shuts down DeFi services: Dual Investment, Portal, Block Trade, and ETH Staking.
August 2025
CEO Steve Guo resigns after approximately three years; team announces Layer-3 DEX infrastructure pivot.
7 March 2026
Binance places LRC under Monitoring Tag.
16 March 2026
Upbit and Bithumb complete delisting of LRC, citing compliance failures.
April 2026
Binance removes LRC from all spot trading markets.
Decision Log
- slot 457835608 · hash GA16P9qgsDUyaCTRMTJtrPhPLszUGcBrkT8J82EESixu
- slot 426514482 · hash HVuMQi6hsWf7gwztC4T7J7jsKW3fsWnyaL8b925KGgfF
- slot 426514480 · hash 8tzKv7qMEzmCuUDxqx4Gjhfb5SLjv8GauMcZhAo8WP2Z
- slot 422413733 · hash EVmHot6aPrXx4i3zeoMmcCubkcSzs3UCUrzZ956FpB4m
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 25 of 29 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:31 AM
last updated: 8/29/2026, 1:33:08 AM
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