Loopring Releases Security Incident Report and Shifts Focus to L3 Products

On October 11th, Ethereum Layer 2 protocol Loopring released a security incident report, stating that the April and June security incidents were a mix of two separate but related incidents that resulted in the loss of some users' funds.
Loopring said that while users are responsible for the security of their hosting, the team is willing to work with law enforcement and security teams to help users recover lost assets.
In light of this incident, Loopring has shifted resources and core focus to the multi-network Loopring L3 product.