Loopring Shuts Down zk Rollup DEX as TVL Collapses From $760M to $8M

According to L2Beat data, Loopring shut down its Ethereum-based zk rollup decentralized exchange on June 28, 2026, ceasing all trading and relayer operations immediately. The team cited weak user adoption, limited business development, and intensifying competition from newer zkEVM-based scaling networks as reasons for the closure.

Loopring's total value locked plummeted from approximately $760 million in November 2021 to roughly $8 million—a near-99% decline. The LRC token fell from its all-time high of $3.75 to about $0.01 over the same period. The protocol's architecture, built without a virtual machine, lacked the composability and programmability offered by competing rollups. Loopring will distribute remaining user funds directly to Ethereum wallets in batches and cover associated gas fees.