The Loopring protocol team has announced the closure of its decentralized exchange and automated market maker.
— Loopring💙 (@loopringorg) June 28, 2026
The developers cited three reasons for the closure:
- Lack of widespread recognition.
- Insufficient business development skills.
- Competition from modern zkEVM solutions.
“Loopring never achieved significant adoption. We lacked a virtual machine—there was no compatibility and no real payment scenarios. This hindered ecosystem growth,” the team acknowledged.
The project's technical architecture has become outdated compared to competitors that are fully compatible with Ethereum smart contracts. The situation was worsened by the delisting of the native LRC token from major exchanges in 2026.
The team has promised to return funds directly to users' Ethereum wallets. Developers will calculate final balances, update the smart contract, and distribute assets in batches.
The refund process will include:
- The team will publish a balance list for verification (this will take two weeks);
- Payments will be made to users with balances over $10;
- The project will cover gas fees.
As a reminder, in early June, law enforcement from 11 countries shut down the crypto service AudiA6, which was based in Georgia.