Summer.fi Shuts Down After Protocol Attack Loses $6.04M on July 6

USDC0.01%
ETH2.42%
According to Summer.fi's official blog, on July 15 the company announced it will close Summer.fi and shut down its parent Labs company following an attack on Lazy Summer Protocol on July 6. Attackers manipulated the price of two USDC Vaults on Ethereum mainnet in a single transaction, stealing approximately $6.04 million in deposits. The team stated that operational funds were exhausted and no viable restructuring path exists. Summer.fi's frontend will remain available until August 31. Lazy Summer DAO will oversee future recovery efforts, with support provided through August.
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