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PANews June 12th news, Ethereum Layer 2 protocol Loopring stated on X platform that due to a recent security vulnerability in Loopring's two-factor authentication (2FA) service, the scheduled automatic upgrade of the smart contract on the Ethereum mainnet, originally planned for June 12th, has been postponed. The upgrade will be conducted at a later time, and the upgrade date will be announced in advance. Please note that this security vulnerability does not affect the security of the smart contract, both existing and new smart contracts are secure.
On June 9th, Loopring disclosed that some smart wallets were hacked. This attack compromised Loopring protocol's 2FA service, allowing hackers to impersonate wallet owners and obtain official guardians' approval for recovery.