Loopring DEX announced that it will permanently shut down effective immediately, and will directly refund all assets to users

BlockBeats News, June 29. The Ethereum's first zkRollup project, Loopring, announced on June 28 that its decentralized exchange would cease all trading services immediately, and the relayer would be taken offline. The official statement prioritized user asset security, committing to covering all gas fees and directly sending assets to users' L1 wallet addresses without requiring users to submit on-chain proof.

Regarding the reason for the closure, the team acknowledged that the project had never gained effective market adoption. The early zkRollup architecture lacked EVM support and suffered from limited composability. Additionally, the team admitted their expertise lay more in technical development than in business operations. Coupled with LRC being massively delisted from mainstream exchanges in 2026 and facing competition from modern zkEVM solutions, they ultimately made the decision to exit gracefully.

As for the refund process, the team will soon publish the final balance list for users, providing a two-week verification period before commencing asset distribution in batches. Accounts with a total balance of less than $10 will be excluded.