Loopring’s wallet services will stop operating on June 30, 2025, impacting users and the cryptocurrency ecosystem. This decision follows a security breach in 2024 that prompted the discontinuation of wallet services. The shutdown affects users’ ability to manage their assets and led to a notable decline in LRC token prices. 4% drop was seen after the announcement. Loopring recommends transferring funds before the deadline, with the company’s layer-2 protocol remaining operational. Analysts are evaluating the potential impact on LRC token prices due to uncertainty surrounding the market. While the shutdown highlights evolving security standards in the crypto sector and may prompt regulatory changes, it also emphasizes the importance of technological reliability for market resilience.