Summer.fi announces shutdown after protocol attack, will keep frontend available until August 31

Odaily Planet Daily News Lazy Summer Protocol was attacked on July 6, and the Summer.fi team announced that it will shut down Summer.fi and the Labs company behind it. The attacker manipulated the share prices of two USDC Vaults on the Ethereum mainnet, stealing approximately $6.04 million in deposits in a single transaction, causing losses to both the protocol and the team's own funds, depleting operational capital. With the DeFi sector under overall pressure following the Stream Finance incident in October 2025, the team stated that no viable restructuring path remains and will keep the Summer.fi frontend available until August 31.