Summary
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
1 entities- + 5 more
Timeline(15 events)
2017-08-01
Loopring conducts ICO, raising approximately 120,000 ETH (~$45M).
2017-09-04
People's Bank of China bans ICOs; Loopring refunds approximately 85%+ of raised ETH to investors.
2020-01-01
Loopring launches public zkRollup exchange at loopring.io.
2021-11-10
LRC reaches all-time high of approximately $3.83 amid bull market speculation.
2022-01-01
Founder Daniel Wang departs CEO role; joins Taiko Labs. Steve Guo assumes CEO.
2024-06-09
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.
2024-06-10
Loopring suspends Guardian and 2FA operations; engages SlowMist security firm; reports incident to Singapore police.
2024-06-01
LRC price drops to a multi-month low following disclosure of the hack.
2026-01-01
Upbit, Bithumb, and Korbit place LRC on delisting watchlists citing disclosure deficiencies and sustainability concerns.
2025-06-30
Loopring Smart Wallet mobile application officially ceases operations.
2025-07-31
Loopring shuts down DeFi services: Dual Investment, Portal, Block Trade, and ETH Staking.
2025-08-01
CEO Steve Guo resigns after approximately three years; team announces Layer-3 DEX infrastructure pivot.
2026-03-07
Binance places LRC under Monitoring Tag.
2026-03-16
Upbit and Bithumb complete delisting of LRC, citing compliance failures.
2026-04-01
Binance removes LRC from all spot trading markets.
Decision Log
- hash: HVuMQi6hsWf7gwztC4T7J7jsKW3fsWnyaL8b925KGgfF
- hash: 8tzKv7qMEzmCuUDxqx4Gjhfb5SLjv8GauMcZhAo8WP2Z
- hash: EVmHot6aPrXx4i3zeoMmcCubkcSzs3UCUrzZ956FpB4m
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:31 AM
last updated: 6/14/2026, 11:15:58 PM
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