Loopring announced Sunday June 29, 2026 the immediate shutdown of its decentralized exchange and automated market maker, halting all trading services and the relayer.
Team cited failure to gain meaningful adoption, lack of virtual machine (no composability), weak business development, and being surpassed by zkEVM competitors zkSync, Scroll, and StarkNet.
TVL dropped to roughly 760 million. LRC token collapsed from 0.01.
Loopring raised $45M in 2017 ICO as Ethereum’s first zk-rollup pioneer. Wallet services closed July 2025.
Fund distribution: two-week review period for final balances, batch transfer to users’ Ethereum L1 wallets with gas covered. Accounts under $10 excluded.
Follows major exchange delistings of LRC in 2026 including Upbit and Bithumb. Part of 60+ crypto project closures in 2026 bear market.