ChainThink reports that, on June 28, according to an official announcement, Loopring has declared the permanent closure of its DEX, with all trading services discontinued and relayer synchronization terminated.
The official stated that all assets will be directly refunded to users, with associated gas fees covered, and the assets will be sent to users' L1 wallet addresses without requiring users to submit on-chain proof themselves.
Loopring stated that the reasons for shutdown include the project's long-term lack of meaningful market adoption, the early zkRollup architecture's lack of virtual machine support and insufficient composability, and the team's acknowledgment that they are better suited for technical development than business operations.
In addition, the team noted the large-scale delisting of LRC from major exchanges in 2026 and increased competition from modern zkEVM solutions, leading to the decision to exit. The official team will soon publish a final balance list for users and provide a two-week verification period, after which asset distributions will begin in bulk.
Accounts with a total balance below $10 are not eligible for this distribution.