Summer.fi shuts down due to the July 6th hack, application will operate until August 31st
Foresight News reports that the DeFi yield platform Summer.fi announced on Twitter that, following the attack on the Lazy Summer Protocol on July 6, it is unable to continue operations and has decided to close the company. Summer.fi stated that this attack directly caused approximately 6.1 million US dollars in losses, and a significant portion of the team members' own assets were also stored in the affected vault, further reducing the operational funds needed for rebuilding. The Summer.fi application will continue to operate until August 31, and Lazy Summer DAO is advancing processes to restore full vault withdrawals and redemptions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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