ChainThink News, June 28: According to an official announcement, Loopring has declared the permanent shutdown of its DEX effective immediately, with all trading services ceasing and relayers going offline.

The official statement indicates that users will receive full asset refunds directly, with associated gas fees covered by the team. Assets will be sent to users’ L1 wallet addresses without requiring users to submit on-chain proofs.

Loopring cites reasons including long-term lack of meaningful market adoption, early zkRollup architecture lacking virtual machine support and insufficient composability, as well as the team’s self-assessment that they are more proficient in technical development than commercial operations.

Additionally, the team notes the large-scale delisting of LRC from major exchanges in 2026, combined with intensified competition from modern zkEVM solutions, ultimately leading to the decision to exit. The official will soon release a final list of user balances and provide a two-week verification period before initiating bulk asset distribution;

Accounts with total balances below $10 will not be included in this distribution.