[Loop] Strategic fundraising of $20 million. The Loopring team has revealed that “several Loopring Smart Wallets were targeted in a security breach,” where attackers compromised Loopring's 2FA service and exploited the wallets (using Defender only Loopring official website) by initiating the recovery process and “impersonating the owner wallet to reestablish ownership and recover assets.” Total damage from this exploitation ~ 5 million USD.
Loopring's Guardian and related 2FA operations have been temporarily suspended in response to the incident and “compromise has ended.”
The Loopring team is actively collaborating with security experts SlowMist to determine how the 2FA service was compromised and working with law enforcement and security teams to track down the perpetrators.
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