Loopring Smart Wallets Suffer a $5 Million Exploit
- Loopring Smart Wallets Security Breach: Loopring, an Ethereum protocol, faced a security breach in its smart wallets linked to the Official Guardian, leading to a significant attack.
- Investigation and Collaboration: Loopring is working with security and law enforcement agencies to investigate the compromise of the two-factor authentication system and track down the cybercriminals responsible for the breach.
- Exploitation Details: The attacker targeted wallets with only one Guardian, specifically the Loopring Official Guardian, initiating unauthorized recoveries on compromised wallets by impersonating owners.
- Financial Impact: The malicious actor siphoned around $5 million worth of assets from affected wallets, swapping the crypto for ETH and holding 1,373 ETH valued at $5 million in one of the hacker's wallets.
- Response and Future Measures: Loopring suspended Guardian-related and 2FA-related operations temporarily to protect users, urging anyone with information about the exploit to come forward and committing to providing updates as the investigation progresses.
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Technical Analysis for LRC
Technical Sentiment Analysis for Loopring (LRC) As of , Loopring (LRC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for LRC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, LRC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Loopring (LRC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0195 | 0.0257 | 0.0327 | 0.0389 | 0.0459 | 0.0521 | 0.0591 |
| Fibonacci | 0.0257 | 0.0307 | 0.0338 | 0.0389 | 0.0439 | 0.047 | 0.0521 |
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