tldr; Loopring experienced a security breach affecting its Smart Wallet users, resulting in asset losses for 58 wallets. The attack involved compromising Loopring’s 2FA server and exploiting vulnerabilities in the wallet’s guardian system. The hacker manipulated accounts to gain control and drain assets. Loopring has since enhanced security measures, including stricter access controls and human oversight for recovery operations. The incident highlights the need for multiple guardians to secure wallets. Loopring is collaborating with security experts and law enforcement to recover lost funds.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
kirtash93 on
Is LRC still alive? Bought it ATH xD
kilo6ronen on
I’m suprised they’re still around tbh
JustStopppingBye on
So many incompetent dev teams. Joke of an industry
[deleted] on
[removed]
Ill-Sandwich-7703 on
Ahhh LRC my old friend. Good to hear you’re still doing absolutely nothing.
CounterAdmirable4218 on
I sold when they gave all the Loopheads to themselves, they are determined scammers, all of them, and these are hollow apologies. It was blatantly obvious they were not being straight with everyone then.
7 Comments
tldr; Loopring experienced a security breach affecting its Smart Wallet users, resulting in asset losses for 58 wallets. The attack involved compromising Loopring’s 2FA server and exploiting vulnerabilities in the wallet’s guardian system. The hacker manipulated accounts to gain control and drain assets. Loopring has since enhanced security measures, including stricter access controls and human oversight for recovery operations. The incident highlights the need for multiple guardians to secure wallets. Loopring is collaborating with security experts and law enforcement to recover lost funds.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Is LRC still alive? Bought it ATH xD
I’m suprised they’re still around tbh
So many incompetent dev teams. Joke of an industry
[removed]
Ahhh LRC my old friend. Good to hear you’re still doing absolutely nothing.
I sold when they gave all the Loopheads to themselves, they are determined scammers, all of them, and these are hollow apologies. It was blatantly obvious they were not being straight with everyone then.
Just end this dishonest shitcoin yesterday.