Loopring Announces Closure of DEX

Loopring has officially announced the termination of its decentralized exchange (DEX) and automated market maker due to several challenges.

The development team highlighted three primary factors behind this decision:

1. Insufficient recognition in the market.
2. Lack of essential business development expertise.
3. Increasing competition from advanced zkEVM technologies.

“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.

Outdated technical infrastructure compared to rivals, which have successfully integrated with Ethereum smart contracts, has exacerbated the situation. Additionally, the native LRC token faced delisting from major exchanges in 2026, further impacting the platform's viability.

In an effort to address user concerns, Loopring has committed to refunding users directly to their Ethereum wallets. The refund process will encompass the following steps:

• Publishing a balance verification list within two weeks;
• Processing payments for users with balances exceeding $10;
• Covering gas fees for transactions.

This announcement comes shortly after a crackdown on the crypto service AudiA6, which was shut down by law enforcement from 11 countries in June.