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Summer.fi will gradually shut down operations; it previously suffered an attack loss of $6.1 million
BlockBeats news, July 16: Summer.fi released an announcement. After the Lazy Summer protocol was attacked on July 6, the team assessed that there was no viable path to continue operations, and will gradually shut down. The attack directly caused losses of approximately $6.1 million, and a substantial portion of team members’ own assets were also stored in the attacked vaults, further reducing the operating funds needed for reconstruction.
The announcement shows that the Summer.fi app will remain available until August 31, and the future direction of the Lazy Summer protocol will be decided by the Lazy Summer DAO. The current DAO is pushing forward with the process to restore withdrawals and redemptions from each vault, including the two vaults that were previously affected.