Loopring Smart Wallet Hack: Hacker Swaps Stolen Assets to ETH
CryptoNewsTerminal Staff09 Jun, 2024
Loopring Smart Wallet Hack: Hacker Swaps Stolen Assets to ETH
Loopring, an Ethereum Layer-2 ZK-rollup protocol, has revealed that some of its Loopring smart wallets were compromised. Cyber sleuths have noted that the hacker swapped all of the stolen assets to ETH. The hacker's address now holds 1373 ETH (over $5 million). Loopring has not yet released any official statement regarding the hack. The company has advised users to be cautious and to take steps to secure their wallets. ZK-rollup technology is a type of Layer-2 scaling solution that is designed to improve the scalability and security of Ethereum. Loopring is one of the leading providers of ZK-rollup technology. The company's smart wallets are designed to be secure and easy to use. The Loopring hack is a reminder that no cryptocurrency wallet is completely secure. Users should always take steps to protect their wallets and their funds.
