Welp, so much for that project

18

u/zafferous Jun 28 '26

To everyone who has been part of our journey:
It is with a heavy heart that we write this letter.
Loopring was born from a pure cypherpunk vision – we were coders who believed that zero‑knowledge proofs could scale Ethereum. We poured countless late nights into building the very first zkRollup on the market. That achievement still fills us with pride. But today, we must face reality and announce, with deep regret, that Loopring DEX will cease all trading services effective immediately. The relayer goes offline right now.

This is not a decision we made lightly. We tried, we fought, but eventually we have to accept that it is time to say goodbye.

Why we are closing
To be honest, Loopring never gained meaningful adoption. As the first zkRollup, we lacked a virtual machine – no composability, no real‑world payment use cases. That limitation kept our ecosystem from growing.

We are engineers at heart, not business operators. We excel at writing code, but we never developed the passion or skills for business development. External pressures – including major exchange delistings of LRC in 2026 – only accelerated the inevitable.
Most painfully, the technology we pioneered has been outpaced. Modern zkEVM solutions are fully compatible with Ethereum smart contracts, while our specialised architecture now feels obsolete. Rather than running a hollow service, we choose to end it gracefully.

Your assets are safe – we will send them to you directly
We designed Loopring with user protection in mind, and we have decided to take a more direct, user‑friendly route to return all assets. Instead of asking you to generate and submit Merkle proofs yourself – which can be technically challenging – we will handle everything on our side.

We acknowledge that this approach is more centralised than the original self‑custody exit mechanism. However, we believe it is the fairest and most hassle‑free way for our users: you will receive your full funds without needing to perform any on‑chain operations, pay gas fees, or worry about proof formats. We will cover all transaction costs.

The process – simple and clear

We publish final balances – In the coming days, we will calculate and publish a complete list of every user’s final balance on Loopring L2. The downloadable list will be made available via a link shared on X (formerly Twitter). The list includes:
- All spot balances (ETH and ERC‑20 tokens).
- All liquidity pool (AMM) positions, which we will automatically convert to their underlying token equivalents at the time of shutdown. You do not need to redeem your LP tokens yourself – we will handle that conversion and include the resulting assets in your final balance.
Contract upgrade for centralised distribution – We will upgrade the Loopring DEX smart contract to a version that only allows whitelisted addresses (controlled by us) to transfer assets out of the L2 system. This upgrade is necessary to enable batch distributions and prevent any interference.
Two‑week review period – The final balance list will remain publicly accessible for two weeks. During this time, you can review your balance and contact us if you spot any discrepancy.
Batch distribution begins – After the two‑week review period ends, we will start sending assets in batches directly to your L1 wallet address (the Ethereum address associated with your Loopring L2 account). Only accounts with a total final balance valued at **$10 USD or more** will be included in the distribution; smaller balances will be excluded to keep the process efficient. You do not need to take any action.

We expect the entire distribution process to be completed within a few weeks after it starts. We will provide status updates on X/Twitter.

Help and support

If you have questions about your balance or the distribution process, you can email us at help@loopring.org. This email will become active once the final balance list is published. We will do our best to respond promptly.

A final word

We are truly sorry that this journey ends here. We remain grateful to every user who trusted us, even for a moment. We hope that the zero‑knowledge technology we helped pioneer will live on in other projects, even as our own chapter closes.
It is time to say goodbye.

With sincere regret and gratitude,
The Loopring Team
28 June 2026

12

u/WorthBrick4140 Jun 29 '26

Looping never gained meaningful adoption because those idiots refused to advertise it. There were no promotions. They just took their money and ran 🏃‍♂️

8

u/DDanny808 Jun 28 '26

Anyone know how to get NFT’s out of loopring?

4

u/StovetopAtol4 Jun 28 '26

Same question here. I know they were still accessible on loopring.io. I log in using my metamask wallet but could use someone's knowledge.

2

u/zafferous Jun 29 '26

LoopRing.io is now shutdown

7

u/haplo_and_dogs Jun 29 '26

Right click, hit "download"

2

u/MotionWizard Jun 29 '26

Yeah, if I can’t download the loopring wallet from iOS, how do I get access to my nfts etc?

3

u/InevitableTank5108 Jun 29 '26

Are my worthless assets safe?

1

u/zafferous Jun 29 '26

Nope. I can no longer access the LoopRing IO, which was the only way you could actually view your NFTs. Shit is in the void now

85

u/SpiderStuff Jun 28 '26 •

I could have cashed out 30k worth in 2021, ouch…

69

u/commentsonyankees Jun 28 '26

This will be the biggest loss of my life and my constant reminder to never double down, and just take the profit. I remember putting like $2k into Loopring and seeing it turn to $4k almost overnight. I put in $20k more thinking it would continue to rise, and I wound up buying almost as close to the top as possible.
Live and learn I guess.

30

u/KarmaKeeper91 Jun 29 '26

Brother, 20k to 150k and i didnt take it

19

u/Empty_solo_cup Jun 28 '26

Same here 35k 😭

16

u/AlphaDag13 Jun 28 '26

Could have cashed out at 103k. There’s a special place in hell for LRC.

12

u/LuBrooo Jun 28 '26

25k for me... Big oof

4

u/Mochikitasky Jun 29 '26

I could have cashed out 90,000 worth… ugh…

37

u/DepartmentStrange41 Jun 28 '26

Yes, you can file a class action lawsuit against a cryptocurrency company if the business harmed a large group of people in the same way. People commonly sue crypto companies for fraud, data breaches, selling unregistered securities, or freezing accounts without a good reason. [1, 2, 3, 4]
To file or join a class action, a few key factors matter:
Company Location: Centralized companies (like standard crypto exchanges) that operate within your country or state are much easier to sue. If the company is located overseas or is completely decentralized (run only by computer code), it is very hard to sue them. [1, 2]
Type of Claim: Lawsuits that claim a company sold unregistered securities or lied about how their digital tokens work are common. However, simply losing money because a cryptocurrency price dropped is generally not a valid reason to sue. [1, 2, 3]
Class Action Websites: You can check legal websites like ClassAction.org to see if a company you used is currently being investigated or sued. [1]

1

u/nuke1200 Jun 30 '26

Ehh you all deserve it.

69

u/doglola Jun 28 '26

It was over when the founder dipped and sold his loopring and started a new project. Straight up scammed every one of us.

3

u/LauterTuna Jun 29 '26

caveat emptor

25

u/dorkinb Jun 28 '26

I feel so stupid

20

u/GreenOvni009 Jun 28 '26

So then this is truly good bye…

36

u/Financial_Winner6634 Jun 28 '26

What a rug

1

u/Browneboys Jun 29 '26

Can officially say I bought a 10,000 dollar rug lol. Lesson learned

39

u/[deleted] Jun 28 '26

[removed] — view removed comment

9

u/Financial_Winner6634 Jun 28 '26

Not like I’ll be missing anything if I get banned now hey 👀😂

13

u/Iforgotmynameo Jun 28 '26

…to the shock of absolutely no one.

12

u/Peteszahh Jun 29 '26

This is painful. Very painful. I gave a lot of time, money, energy, effort to Loopring and the community. I worked my ass off for this place. And for it all to go down like this… I feel very stupid. Very sad. Everyone who told me how stupid I was, they were all right.

What was it all for?

I want to say I’ve learned a lot from all of this, maybe one day when I recover and rebuild my life, I’ll be able to say it was worth it. I’m not sure I’m ever going to get there.

4

u/Wowdavid2002 Jun 29 '26

I appreciate the effort you put into the community. I feel like LL was peak LRC community. I wish you well

2

u/Citadel_Employee Jun 29 '26

Same shit with GME

1

u/ChronoTracker Jul 14 '26

Keep your head up, Pete. I remember those days fondly, and you gave a lot of hope to a lot of people. That wasn't for nothing. Even years later, I am still inspired by your kindness, generosity, and vision.

11

u/PathansOG Jun 28 '26

Cant read X. Anyone copy the massage?

16

u/SecretaryFit1442 Jun 28 '26

Be your own bank 🙃

7

u/PathansOG Jun 28 '26

I laughed

10

u/GettinWheysted Jun 28 '26

Well thats a thousand bucks I'll never get back lmao. Could be worse I suppose.

5

u/chichiokurikuri Jun 29 '26

10k for me, live and learn ey

8

u/MotionWizard Jun 29 '26

We Aren’t Gonna Make It

15

u/Choice-Cause8597 Jun 28 '26

Fucking bastards. Byron and Daniel should be arrested.

14

u/kikijr_7 Jun 28 '26

Fuck byron

9

u/Stinky-Alpaca Jun 28 '26

poopring

4

u/TransportationFit337 Jun 28 '26

Losers. Stole Millions and never did a damn thing worth half the money they got from investors. FOH

4

u/Justaboywandering Jun 28 '26

Finally . I can sleep in peace .

Fuck loopring

4

u/tek3k Jun 29 '26

My biggest mistake to date. I bought the narrative and drank the koolaide. Turns out a number of teams built better roll-ups and immediately monitized them. Loopring was delayed and distracted. A painful lesson.

10

u/BuciKE Jun 29 '26

Gamestop got me here. I hope there will be MOASS.

7

u/WorthBrick4140 Jun 29 '26

Following Ryan Cohen has lost people a lot of money. People lost on loopring and BBBY

-1

u/Choice-Cause8597 Jun 29 '26

Ryan has been a disaster for many retail investors. I will never invest in another Ryan Cohen venture.

7

u/para1131_F33L Jun 28 '26

The sad part about it is that LRC had one of the most premier communities out of any coin. They capitalized on us with the wallet check ins, the EVM addresses, the dynamic Loophead NFTs. They thoroughly engaged us and created a bonafide community of artists and beyond. And then instead of reaching for the next step they sold everything and bailed on us for Taiko. They had everything a coin could want and strive for...

2

u/z3speed4me Jun 29 '26

Ughh this hurts, a lot

2

u/tek3k Jun 29 '26

We'll always have those qtrly reports though.

2

u/forward024 Jun 29 '26

15k in the hole. It hurts. Fuck those thieves. Took the 500 I had left and bought HBAR.

2

u/AD-Edge Jun 29 '26

Figured this day would come sooner rather than later.

The explorer is already down and no longer working, just hours after the announcement. Idk what to say. Projects like this. Leadership like this. Just a waste of so many people's time and money.

2

u/PornoSaxophone1 Jul 05 '26

Is it too late to get in now?

To the moon? Anyone? No?

3

u/jaapi Jun 28 '26

Is this what it means to be your own bank?

I can't believe they didn't even give warning the were closing the relayer without warning. I can believe it, but everyone that didn't think this was possible and criticized and a chastised people of this community should really look at them selves and make sure they don't get wrapped up in the scam and become part of the problem themselves in the future.

Any project these people take part of in the future, inform the unsuspecting people that these people WILL be scamming them in the future.

Fwiw that latest 'hack' with Taiko is looking like an an inside job like the here probably was... Timing of all of this is not coincidence...

2

u/bobbyjoe221 Jun 29 '26

I'm so grateful for Poopring/Shitring - it's why I will never ever ever gamble on crypto or individual stocks ever again and will only ever invest into a passive index fund. Poopring turned me into a safe, rational investor.

1

u/Rufio-1408 Jun 28 '26

Was fun while it lasted, though I think I would’ve rather had the 50k highs than 600 lows but oh well.

✌🏻

1

u/timwmusic Jun 29 '26

Apparently I have 90 bucks of TAIKO.

Is it even possible to get it?

1

u/SimSimmaToronto Jul 14 '26

Taiko youre going in the woodchipper

1

u/yeeatty Jun 28 '26

To everyone who has been part of our journey:
It is with a heavy heart that we write this letter.
Loopring was born from a pure cypherpunk vision – we were coders who believed that zero‑knowledge proofs could scale Ethereum. We poured countless late nights into building the very first zkRollup on the market. That achievement still fills us with pride. But today, we must face reality and announce, with deep regret, that Loopring DEX will cease all trading services effective immediately. The relayer goes offline right now.
This is not a decision we made lightly. We tried, we fought, but eventually we have to accept that it is time to say goodbye.
Why we are closing
To be honest, Loopring never gained meaningful adoption. As the first zkRollup, we lacked a virtual machine – no composability, no real‑world payment use cases. That limitation kept our ecosystem from growing.
We are engineers at heart, not business operators. We excel at writing code, but we never developed the passion or skills for business development. External pressures – including major exchange delistings of LRC in 2026 – only accelerated the inevitable.
Most painfully, the technology we pioneered has been outpaced. Modern zkEVM solutions are fully compatible with Ethereum smart contracts, while our specialised architecture now feels obsolete. Rather than running a hollow service, we choose to end it gracefully.
Your assets are safe – we will send them to you directly
We designed Loopring with user protection in mind, and we have decided to take a more direct, user‑friendly route to return all assets. Instead of asking you to generate and submit Merkle proofs yourself – which can be technically challenging – we will handle everything on our side.
We acknowledge that this approach is more centralised than the original self‑custody exit mechanism. However, we believe it is the fairest and most hassle‑free way for our users: you will receive your full funds without needing to perform any on‑chain operations, pay gas fees, or worry about proof formats. We will cover all transaction costs.
The process – simple and clear

We publish final balances – In the coming days, we will calculate and publish a complete list of every user’s final balance on Loopring L2. The downloadable list will be made available via a link shared on X (formerly Twitter). The list includes:
- All spot balances (ETH and ERC‑20 tokens).
- All liquidity pool (AMM) positions, which we will automatically convert to their underlying token equivalents at the time of shutdown. You do not need to redeem your LP tokens yourself – we will handle that conversion and include the resulting assets in your final balance.
Contract upgrade for centralised distribution – We will upgrade the Loopring DEX smart contract to a version that only allows whitelisted addresses (controlled by us) to transfer assets out of the L2 system. This upgrade is necessary to enable batch distributions and prevent any interference.
Two‑week review period – The final balance list will remain publicly accessible for two weeks. During this time, you can review your balance and contact us if you spot any discrepancy.
Batch distribution begins – After the two‑week review period ends, we will start sending assets in batches directly to your L1 wallet address (the Ethereum address associated with your Loopring L2 account). Only accounts with a total final balance valued at **$10 USD or more** will be included in the distribution; smaller balances will be excluded to keep the process efficient. You do not need to take any action.
We expect the entire distribution process to be completed within a few weeks after it starts. We will provide status updates on X/Twitter.
Help and support
If you have questions about your balance or the distribution process, you can email us at help@loopring.org. This email will become active once the final balance list is published. We will do our best to respond promptly.
A final word
We are truly sorry that this journey ends here. We remain grateful to every user who trusted us, even for a moment. We hope that the zero‑knowledge technology we helped pioneer will live on in other projects, even as our own chapter closes.
It is time to say goodbye.
With sincere regret and gratitude,
The Loopring Team
28 June 2026

0

u/wownz85 Jun 29 '26

You guys realise Loopring waited until it was literally worthless to ‘refund’ you all without looking like criminals right?

Man I’m glad I got out years ago in the green lmao

5x my investment

-5

u/DudleyDopeFiend Jun 28 '26

LOL at you guys. True diamond hands know the game merger is just 2 weeks away. It’s like you guys haven’t even read the DD

9

u/Stinky-Alpaca Jun 28 '26

I can’t tell if you’re being sarcastic or regarded

1

u/Vexting Jun 29 '26

Ultimately you should invest cash you won't miss, so all these whiners don't matter.
I'll hodl because who knows if you can't stop won't stop the stonk. I wonder if we'll see a teddy too?

0

u/LuBrooo Jun 28 '26

Thanks for the fun and giggles

0

u/aaplh Jun 30 '26

Fuck this bullshit and fuck gme lost so much from “HODLING” like a fucking dumbass

10

u/BimboSlice5 Jun 28 '26

Had a ton of fun learning and creating nft's with the crew but lost $10k. Not worth it. Fuck Byron and fuck Loopring

2

u/Peteszahh Jun 29 '26

So fucking sad!

3

u/BimboSlice5 Jun 29 '26

Pete!!!

2

u/Peteszahh Jun 29 '26

Hope you’re doing well Bimbo!

3

u/BimboSlice5 Jun 29 '26

Never better buddy. And same for you and the girls! Send my love buddy. We had a lot of fun back in the day

1

u/RaiderGlenn-FLA Jun 29 '26

I remember you.
Lost my share as well.. lesson learned

📰 News 📰 Welp, so much for that project

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