Summer.fi announces business closure after protocol attack, frontend will remain accessible until August 31

Odaily Planet Daily News: Lazy Summer Protocol was attacked on July 6, and the Summer.fi team announced the closure of Summer.fi and its parent company Labs. 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 the protocol and the team’s own funds, and depleting operational capital. Against the backdrop of overall pressure on DeFi following the Stream Finance incident in October 2025, the team stated that there is no viable restructuring path and will maintain Summer.fi’s frontend accessibility until August 31.