Loopring: Willing to help users recover lost assets, the company's focus has shifted to L3 products

Ethereum Layer 2 protocol Loopring released a post-security incident report and future developments, saying that the security incidents in April and June were actually a mixture of two independent but related incidents, which ultimately led to the loss of user funds of some affected Loopring smart wallets. Loopring said that while end users are responsible for their own custody security to ensure that there is no centralized, single point of failure, the Loopring team is always willing to work with more law enforcement and security teams to help users recover their lost assets. In view of this incident, they have shifted resources and core focus to multi-network Loopring L3 products. (Medium.com)