The Lazy Summer Protocol operated by Summer.fi has suspended all rooms and placed zero deposits on the network after they were found to be using it.
According to blockchain security companies PeckShieldAlert and CertiKAlert, the process has been underway. exploitation about $6 million.
CertiK says the hacker used smart contracts to borrow money, which led to $70.9 million in redemptions following a $64.8 million deposit.
PeckShield reported that $4.04 billion was lost due to cryptocurrency fraud and fraud combined in 2025, up 34.2% from $3.01 billion in 2024.
This breaks down to about $2.67 billion from direct/indirect and $1.37 billion from fraud-related costs.
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Featured Image: Shutterstock/prodigital art/Natalia Siiatovskaia
