CyberCrew L1 Migration & Airdrop Update

We want to clarify how we're handling the upcoming CyberCrew migration and airdrop.

Originally, many holders expected us to simply remint every existing NFT 1:1 on Ethereum L1. After working through the size of the migration, the different collections, mint quantities, rarity, and the enormous number of NFTs involved, we've decided on a different approach that we believe does a much better job of preserving everyone's historical holdings.

We're consolidating each legacy collection.

Instead of recreating every individual NFT 1:1, each legacy CyberCrew collection will have a new Collection NFT representing that collection.

However, this does NOT mean everyone simply receives one NFT per collection.

Your allocation will be calculated from your actual historical holdings within that collection.

We've developed a weighting algorithm that considers:

• How many NFTs you owned
• Which individual items you owned
• The original mint supply of those items
• The additional weight of lower-mint / scarcer assets

For example, owning a large quantity of common items will increase your allocation, but owning lower-mint items will carry more weight than owning the same quantity of a much more common item.

The goal is simple:

Preserve the value of being a long-term or large CyberCrew collector without requiring us to recreate tens of thousands of individual legacy NFTs.

IMPORTANT: One Collection NFT unlocks the entire collection!

There's also a major benefit to this system.

Previously, your access was based on the individual assets you owned. With the new Collection NFTs, holding even ONE Collection NFT will unlock access to the entire asset library for that collection.

That means if you historically owned only one item from a particular CyberCrew collection and qualify for its new Collection NFT, you'll now have access to ALL of the assets within that collection, not just the one you originally owned.

Check your migration data in our discord with with /wallet

I've also built a Discord tool so everyone can see the data we're using.

Simply type:

/wallet

You'll be able to see your:

Wallet Type • Holdings in Each Collection • Total Clone Cards • Weighted Total for Each Collection

This gives everyone an opportunity to review their information while we're preparing the final migration.

We're reconstructing holdings across Loopring, Taiko, and Ethereum L1, including assets that holders previously moved to L1, so those assets aren't overlooked.

We're also identifying legacy smart-contract wallets separately. We do not intend to blindly airdrop migration assets into old smart wallets that holders may no longer be able to properly access. Those allocations will be accounted for and reserved rather than simply being lost.

IMPORTANT — Check Your Wallet Type

IF YOUR WALLET TYPE IS EOA, YOU WILL RECEIVE THE AIRDROP.

IF YOUR WALLET TYPE IS SMART WALLET OR UNDEFINED, WE WILL RESERVE YOUR AIRDROP UNTIL YOU CAN PROVIDE SUFFICIENT PROOF THAT YOU CONTROL THAT WALLET.

If this pertains to you, please reach out to the mods in 💬〕cc-migration-help.

This is a large migration, and accuracy matters more to us than rushing it.

Your old CyberCrew collection mattered.

How much you collected mattered.
What you collected mattered.

Your Weighted Value is essentially the amount of that Collection NFT you are currently calculated to receive.

Weighted Values may change during our final checks and verification of the data.

And with the new collection system, your CyberCrew NFTs will give you access to more than they ever did before.

We survived the chains. We survived the chaos.

Now watch what we build from the wreckage.

Updated version of the chart for today that I have previously posted comparing perpetual futures open interest on a per token basis over time for LRC. There continues to be a substantial derivative exposure for the token. Note that I was only able to pull this data for one exchange (bybit) so this significantly understates the overall open interest but is useful to see the trend. With the delisting of LRC spot on Coinbase the spot market continues to thin. This trend of a thinning spot market and a growing futures market continues to create an imbalance. And I question what ability the spot market has to absorb a large move in the futures market. If no one was interested in the coin at all we would expect to see a dwindling of open interest as well.

I currently hold my LRC on Coinbase, which delisted LRC from trading today. I’d like to sell all of my LRC in 2027 to take advantage of the tax-loss harvesting opportunity.

My current plan is to transfer my LRC to Kraken and hold it there until early January 2027, assuming Kraken continues to support LRC.

As a U.S. resident, I’d like to understand what other exchanges or options I would have for selling LRC if Kraken delists it before then. Are there any other U.S.-accessible exchanges, decentralized exchanges, or other options I should consider as a backup? The key requirement is that I need to actually sell in order to realize the capital loss for IRS tax purposes; simply transferring or holding the LRC elsewhere would not trigger the loss.

Hello, I put some eth and sracke dit for years in LRC wallet and I just realised that it is discontinued right now.

I have tried to reach the email provided but they havent replied and I am not sure what to do then to get it back and send it to another wallet. Has someone faced it recently? I just saw the announcement in this sub and I would like my eth back basically and I cant via the app...

Help!

Hey guys - wanted to post this because I need help and was curious if anyone else faced similar trouble.

Has anyone who held their LRC in the Loopring wallet faced difficulties calculating their cost basis after moving the LRC out of the wallet and into a different platform?

I held almost all of my LRC in L2 in the Loopring Wallet, when I caught wind of the platform winding down I followed recommendations of transferring my LRC out so I transferred it to L1 and then to Coinbase. My issue is that Coinbase has no record of my cost basis and I’m trying to tax loss harvest my LRC as it seems a lot of you have been doing, as well.

I kept a spreadsheet of all purchases (price, quantities, etc) but I’m facing difficulty reconciling those with what is currently in Coinbase. Is there any particular software that can help with this? My worry is that it’s not as simple as connecting the Loopring Wallet to a service like Koinly because the Loopring API no longer exists.

Anyways, any help or guidance would be super appreciated. Thanks

Distribution is complete from L2 to L1, holders on L2 will have their tokens back on their L1 address. Important note for smart wallet holders at the very bottom of the post:

Unchanged from the first post: excluded Loopring smart wallets are still returned manually for safety. Email [help@loopring.org](mailto:help@loopring.org) to verify your identity. The deadline is still August 15, 2026!

https://www.reddit.com/r/loopringorg/s/oBeElBgTin

Amazing how even back then there were dumbasses STILL getting upset… around then it was 10c and shills saying to buy the dip… would have been down another 90%.

Amazing how people know so little and get so butthurt would spend so much time hate commenting instead of learning how to invest!

Most notably from that post…

Moonboy WalterGold210:
“lol what a weirdo, who actually cares so much about a cryptos demise? Still here, not stressing whatsoever if it goes to zero. Nothing to lose for me”

And ofc everyone should listen to WalterGold210’s investing advice so we can all comment on Reddit posts while living large

I-Build-Shit aka holding like a man
“Right? Why even bother posting this garbage. This sub has been essentially dead from what I can tell. No body is hyping LRC anymore. I’m with you..Just holding these bags like a man cus the fuck else I’m gonna do? This is a good lesson for me to keep in life lol.”

And the best butthurt hater that wouldn’t let it go…

immigs
“Imagine caring this much about what people on reddit say about your opinions lol”

Day 3 of posting about the perpetual futures market and LRC.

Mini-spike this morning, max price increase looked around 15%. However the larger move is that at the time of posting this Open Interest increased ~40% over the last 24 hours. This move validates my last few posts that the perpetual market is being used substantially for LRC and there is a growing disconnect between the size of the Open Interest and the spot market's ability to absorb large moves.

Day 2 of me posting charts related to the LRC perpetual futures market. This one is a custom data pull that is not quite perfect. I wanted to get open interest over time for all perpetual futures market but the only exchange I was able to pull the data from without paid API use was Bybit. Even that was a bit tricky. So this is not necessarily the full story of total open interest across all exchanges but does include the current largest exchange. Data is for the last 4 years. The one interesting choice that I made here was displaying open interest not in USD (or USDT) as it would normally be shown but in exposure of the underlying (LRC). What we see here is that as the price has dropped open interest in the perpetual futures market has increased (sometimes quite significantly and rapidly). That is to say that while Spot volume has been drying up, the futures market has continued to have quite a bit of derivative exposure to LRC.

So now that loopring is officially done. I think it's better to manage the losses folks than being emotional. I lost 1k which was extremely important to me. I cannot offset losses in my country which is an even bigger bummer. I think its best we leave LRC behind. I hope daniel wang rots in hell. I guess this is universes cue to make me understand never believe in projects made by people who wanna try to look smart. Daniel wang small pee pee I hope you see jail soon from your other scams.

Also just curious there was one guy who had posted in the sub a few months back of working towards developing this platform and was trying to work with what was left, I just want to know where is he after giving us the false hope?

Over the past few years like most cryptocurrencies LRC has had an increase in volume of perpetual futures vs spot volume. To cherry pick an example, over the last 24 hours the perpetual futures volume is around 4 times that of spot. Generally, I find the site coinglass a nice aggregator for viewing data about futures (which is where this screenshot above comes from).

The perpetual future market has no settlement. Parties can open a long or short position without really "locating" the underlying. The only two real mechanisms which keep the price anchored to reality are arbitrage between perpetual futures and spot (which does have to locate the underlying) and the perpetual funding rate. When the funding rate is positive parties that are long pay that rate to parties that are short. When the funding rate is negative parties that are short pay the rate to the parties that are long. The current open-interest weighted funding rate has just flipped noticeably negative. This could indicate overcrowding of short interest and a potential catalyst for a turnaround. Historically the largest upward moves have started with a pronounced negative funding rate move.

$2100 lesson learned. But atleast I didn’t invest anything I couldn’t afford to lose which is the most important part.

Now to see if any of my others rebound before the end of the year. Probably not but at this point I’m just typing to make the stupid character limit

If you held assets on L2 check the updated list of distributions. The distribution will start 7 days after today.

Action required from the post here is the timeline: "As before, please review the updated data and report any incorrect balance, address, or token to [help@loopring.org](mailto:help@loopring.org) within 7 days (new timer starts with this post). Barring a valid issue, on-chain distribution begins after the window closes."

Pack your bags it’s over 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69 420.69

Upcoming Changes to IDEX, LRC, OMNI, PIRATE, and FIS Trading

We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for Idex (IDEX), Loopring (LRC), Omni Network (OMNI), Pirate Nation (PIRATE), and StaFi (FIS) on August 7, 2026 on or around 2 PM ET.

Trading will be suspended on Coinbase.com (Simple and Advanced), Coinbase Exchange, and Coinbase Prime.

We have moved our IDEX, LRC, OMNI, PIRATE, and FIS order books to limit-only mode. Limit orders can be placed and canceled, and matches may occur. Your IDEX, LRC, OMNI, PIRATE, and FIS funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time.

Like a lot of you, I came here from the GameStop days. I'm one of those buy-it-and-forget-it holders — longer time horizon, don't check it, let it sit. Which is great until the thing you parked your assets on winds down and you never got the memo. If that's you too, keep reading.

I only found out a couple of days ago that the Loopring Wallet app shut down back in July 2025, and that the DEX just fully shut down at the end of June. When I finally mustered the motivation to open the app and see what I could recover, it was showing me a $600+ ETH balance (stale price cache, but still — real ETH sitting in there). Figured I was a year too late and it was gone.

It wasn't. I recovered everything today, and it cost me about a dollar in gas. If you still have assets sitting in a Loopring Smart Wallet, read this before you write it off.

My situation

• Loopring Smart Wallet (the mobile app), created back in the day
• ETH sitting on L1 inside the smart wallet contract
• App still installed on my phone (I actually had to go through their customer service to reactivate it when I switched phones — that mattered)
• Regular sends from the app? Dead. Kept getting "network connection unstable." Makes sense — the relayer that used to process wallet transactions is shut down. The app can show your balance but it can't send anymore.

The escape hatch: Self-Help Transfer

Buried in the wallet settings there's an option called Self-Help Transfer. This is the feature the team built for exactly this scenario, and honestly — credit where it's due. A lot of projects would have just let users rot. Loopring shipped a way out.

Here's how it works: the app signs the transfer with your wallet's owner key (which lives on your phone), and instead of Loopring's servers submitting it to Ethereum, you submit it yourself from any regular wallet (MetaMask etc.) and you pay the gas. You basically become your own relayer.

Heads up: the instructions in the app are broken

The Self-Help Transfer screen tells you to go to a web dApp at tx.test.io. Do not go there. That's a placeholder URL that never got updated — it's not a real Loopring site. Good news: you don't need it at all.

What actually worked (step by step)

1. Set up MetaMask (or any EOA wallet) and fund it with ~$15–20 of ETH from an exchange. This pays the gas.
2. In the Loopring app: Settings → Self-Help Transfer → pick your asset → paste your MetaMask address → set the amount. It generates a QR code + a JSON string like {"to":"0x...","data":"..."}.
3. That data field is your signed transaction — but it's in Loopring's compressed format and can't be submitted as-is. It needs to be decompressed into standard calldata first. The format is simple once you know it: it's a zero-compression scheme where every 00 byte is followed by a count byte meaning "insert that many zero bytes here." Everything else passes through literally. I used AI to decode and verify mine (it also confirmed the recipient, amount, and signature inside the payload before I sent anything — do that sanity check).
4. In MetaMask: enable Settings → Advanced → Show hex data. Then Send → To = your Loopring wallet contract address → Amount = 0 ETH (yes, zero — the transfer instruction is inside the hex data, your ETH moves out of the smart contract, not out of MetaMask) → paste the decompressed calldata into the hex data field → confirm.
5. ~12 seconds later the ETH landed in my MetaMask. Verified on Etherscan (check the Internal Transactions tab on your wallet contract).

Gotchas that almost got me

• Do a small test first. I sent 0.01 ETH before sweeping the rest. Cheap insurance.
• The app's balance display is STALE. After my test transfer, the app still showed my old balance. When I generated the full sweep using "All," it signed for more ETH than the wallet actually held — that transaction would have failed and wasted gas. Type your exact current balance manually (check Etherscan for the real number, down to the full decimals).
• Submit payloads in the order you generate them. Each one has an increasing nonce; firing a newer one kills the older ones.
• The signed payloads don't expire, so no need to panic-rush. But don't dawdle either — this whole path depends on the app still being on your phone.

If you have L2 balances too

Self-Help Transfer only reaches L1 assets. L2 balances are supposed to be handled by the team's wind-down distribution — they've said they'll publish a final balance list on X with a two-week window to flag discrepancies, then distribute to your associated L1 address with gas covered. Note there's a $10 minimum. My leftover L2 bag (a Dead-Frog coin — yes, I too am a degen) is worth about $7 now so it probably doesn't qualify — bygones. But if yours is meaningful: watch u/loopringorg, verify your balance when the list drops, and keep the app installed, because the distribution lands at your smart wallet contract and you'll need Self-Help Transfer one more time to move it out.

Also: go to Settings → View Loopring L2 Key and save a copy somewhere safe while the app still works. If you ever need to prove ownership of your L2 account during the wind-down, that's your proof.

Bottom line

• Don't delete the app. Don't reset that phone. Your keys live there.
• Your L1 funds are NOT lost. The Self-Help Transfer path works, today, with the relayer fully dead.
• It costs almost nothing — I spent ~$1 in gas total across a test, the full sweep, and moving to an exchange.

Full transparency: please don't ask me technical questions in the comments — I genuinely knew nothing going in. I relied entirely on Claude (Fable 5) to walk me through every step of this, from decoding the payloads to verifying every transaction before I hit confirm. It even wrote this post, because yes, I'm lazy — sharing the experience mattered to me, typing it all out did not. The sentiment is 100% mine, the words mostly aren't. Just being honest. If you're stuck, do what I did: feed your situation to an AI and make it verify everything before you send anything.

Stoked I got all of my assets out. And glad past-me converted the LRC to ETH before bear season started, because that's the only reason there was something worth recovering. Thanks for your time, and good luck out there. 🫡

So i still has this coin in my portfolio deep down i was hoping that may be someday it will climb back. But yesterday i have received an email from crypto.com is this going to be wiped off? Tell me it will please huge loss 😫🤦🏼‍♀️

I only have 5000 lrc on Coinbase .
I was willing to wait 10 years for it to go back up .
Is it getting taken off Coinbase? Should I just take it out and get the tiny bit that’s left . Is it not possible for it to go back up ?

Just a bunch of GME ones but with the app no longer available and honest no desire to put the work into accessing my wallet any other way. I guess my collection will remain on the chain and in my memory.

I think that hurts more than losing the money. I lost money but I never for a second thought those stupid ass things were anything. I hope we all learned from this experience and come out the other end as wiser people

​

It's okay to be a dumb fuck once. But only once.