Loopring: Unable to help compensate users for losses incurred due to the security incident in June, the company's focus has shifted to L3 products

PANews October 11th news, ETH Ethereum Layer 2 protocol Loopring released a post-incident report and future development, stating that the security incidents in April and June were actually a mix of two separate but related events, ultimately resulting in the loss of funds for some affected Loopring smart Wallet users. Loopring stated that in the April incident, the Loopring relay was attacked, resulting in internal losses of team assets; in June, the Loopring Wallet Address was subsequently attacked, resulting in the loss of funds for 58 user Addresses. While end users are ultimately responsible for their own custody security to ensure the absence of centralization and single points of failure, the Loopring team is always willing to cooperate with more law enforcement and security teams to help users recover lost assets. In light of this incident, we have shifted resources and core focus to the multi-network Loopring L3 product.