The crypto platform Summer.fi, operating the Lazy Summer Protocol, has halted all operations. This action follows an active security breach that drained approximately $6 million.
Blockchain security firms PeckShieldAlert and CertiKAlert confirmed the exploit. According to CertiK, the hacker leveraged a vulnerability in the protocol's flash loan smart contracts. This allowed a redemption of over $70 million after a $64.8 million deposit.
The incident adds to a growing trend. PeckShield reported that combined losses from crypto hacks and scams reached a record $4.04 billion in 2025. This figure represents a 34% increase from 2024.