Summer.fi will gradually cease its operations after suffering a $6.1 million loss in a hack.

BlockBeats News, July 16th, Summer.fi announced that, following the attack on the Lazy Summer protocol on July 6th, the team has determined there is no feasible path to continue the project and will therefore wind down operations gradually. The attack resulted in a direct loss of approximately $6.1 million, with a significant portion of the team's funds also held in the exploited treasury, further reducing the operational funds available for recovery.

The announcement stated that the Summer.fi application will remain accessible until August 31st, and the future direction of the Lazy Summer protocol will be decided by the Lazy Summer DAO. The current DAO is progressing with the recovery of funds from various treasuries, including the two treasuries affected by the exploit.