Loopring Shocks Crypto World: Wallet to Shut Down by June 2025

Ethereum's Layer-2 Giant Calls it Quits on Wallet Operations

Holy moly, did you hear? Loopring, the big shot in Ethereum's layer-2 and layer-3 zero-knowledge rollup scene, just dropped a bombshell—they're pulling the plug on their wallet by June 2025!

The Loopring crew spilled the beans, saying the Loopring Wallet is going dark for good on June 30. They're telling everyone to hustle and pull their assets out while they still can.

"Listen up, folks, we've got some heavy news: Loopring Wallet is hanging up its boots by the end of June 2025," the crypto platform announced. Talk about a gut punch!

Once that date hits, say goodbye to the wallet's slick user interface that you could tap into from your phone. It's all going poof!

Loopring's Smart Wallet was the real deal, using those rock-solid smart contracts. But, the magic happened through the mobile app, and once that's gone, no more updates, and it'll vanish from the app stores like a ghost.

Don't freak out, though—the Loopring team made it crystal clear that this wallet shutdown won't mess with their layer-2 protocol. That's still going strong!

But here's the deal: you gotta move your funds and NFTs to other wallets, and pronto. Get on it within the timeline they gave, or you might run into some serious headaches.

They've thrown out some names for where to stash your loot: MetaMask, Coinbase Wallet, and Rainbow Wallet. So, take your pick and get moving!

Remember that nasty security breach back in June 2024? Some hacker broke into user wallets by messing with the two-factor authentication. Loopring had to hit the brakes on Guardian and 2FA stuff for a bit. Rough times!

After this latest shocker, LRC took a nosedive, dropping another 4%. It's now licking its wounds at around $0.09, down a whopping 13% in just a week. Ouch!