Hacker Strikes Again: 30 ETH Transferred to THORChain After Loopring Breach

Loopring Hacker Initiates Fund Transfer, Transfers 30 ETH to THORChain

On March 6, 2025, hackers targeting the Ethereum Layer 2 protocol Loopring began transferring funds, with 30 ETH already transferred to THORChain, according to Bitrace monitoring. This latest development comes after Loopring reported on June 9, 2024, that its smart wallet had been attacked. The hacker exploited a security vulnerability, impersonated wallet owners, and withdrew assets.

The Loopring hack is a stark reminder of the security challenges facing decentralized finance (DeFi) platforms. As DeFi continues to grow in popularity, so too do the risks associated with it. Hackers are increasingly targeting DeFi platforms, seeking to exploit vulnerabilities and steal user funds.

In response to the Loopring hack, the DeFi community has been quick to offer support and assistance. Many DeFi developers and enthusiasts have been working tirelessly to identify and patch vulnerabilities in Loopring's smart contracts. Additionally, several DeFi platforms have offered to help Loopring users recover their stolen funds.

The Loopring hack also highlights the importance of security in the DeFi ecosystem. As DeFi continues to evolve, it is crucial that developers prioritize security and implement robust security measures to protect user funds. This may include regular security audits, bug bounty programs, and other measures to identify and address potential vulnerabilities.

In the meantime, Loopring users are advised to be cautious and vigilant in protecting their assets. This may include using hardware wallets, enabling two-factor authentication, and being wary of phishing attempts. By taking these precautions, users can help protect themselves and the broader DeFi community from future attacks.