Loopring Smart Wallets Suffer a $5 Million Exploit
Loopring observed that the attacker impersonated the wallet owner to reset ownership and redeem assets.
On Sunday, Loopring, an Ethereum zero-knowledge roll-up protocol, announced a significant security vulnerability attack on its smart wallets, linked to the Loopring Official Guardian.
The project is collaborating with security and law enforcement agencies to investigate how the two-factor authentication system was compromised and to track down the cybercriminals.
Loopring Official Guardian Exposed
In a comprehensive announcement shared on platform X, Loopring disclosed that the attacker targeted a subset of the wallet, capitalizing on the vulnerabilities of the Official Guardian. As such, some wallets within Loopring fell victim to this security breach.
What's Your Reaction?
