Loopring DEX — Trustless Exit Disabled at Shutdown
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anchored·3ur4ZA…3HsHSummary
Loopring, Ethereum's first zkRollup decentralized exchange, announced its immediate shutdown on June 28, 2026, citing a 99% collapse in total value locked and failure to achieve meaningful adoption. At shutdown, the team unilaterally upgraded the DEX smart contract to restrict withdrawals exclusively to team-controlled whitelisted addresses, disabling the permissionless Merkle-proof escape hatch that was the protocol's defining security guarantee and replacing it with a custodial batch-distribution process. Users with balances below $10 are excluded from distribution entirely.
Connected Entities
1 entities- + 1 more
Timeline(11 events)
August 2017
Loopring protocol founded and approximately $45 million raised in ICO.
Bitcoin Foundation / general coverageJune 2024
Loopring Guardian smart wallet service compromised; approximately $5 million drained from user wallets via 2FA bypass.
Unchained CryptoJuly 2025
Loopring shuts down consumer wallet and DeFi products; refocuses on Layer-2 protocol only.
Crypto.news31 August 2025
CEO Steve Guo resigns effective end of August 2025; LRC token rises 9% on the announcement.
Phemex News16 March 2026
Upbit and Bithumb delist LRC, citing deficiencies in disclosures and lack of business sustainability.
CryptoRankApril 2026
Binance delists LRC; Binance withdrawal support for LRC continues through June 2026.
CryptoTimes28 June 2026
Loopring announces immediate shutdown of DEX, AMM, and relayer; announces plan to upgrade smart contract to restrict withdrawals to team-controlled whitelisted addresses only.
CryptoTimesDecision Log
- hash: 2KXC6CzAcxKvopdRdKfQPcBkzddzjBtkBYFG8Sdi5nfs
- hash: 32YwJGDLbRK1Y5XaGCXwiEtYxSs93NBM4v2Lznq3Mxkp
- hash: AFdjwwQfANgt8C5o5i6JKECzeh4xwAG5zqS9qhf4TKYu
This investigation is cryptographically anchored to the Solana blockchain (3 events). 14 of 16 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/1/2026, 11:14:57 PM
last updated: 8/26/2026, 12:10:13 PM
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