July 20, 2026·Bearish·critical issue

Summerfi Labs Shuts Down After $6M USDC Vault Drain

Summerfi Labs is winding down and retiring its interface after $6 million was withdrawn from two USDC vaults in a single transaction. The loss eliminated the company's runway to rebuild, leading to the decision to cease operations.

Detected & updated continuously · Source: Nebula

Sources

@newton_xyz

Vaults, this week: - Summerfi Labs is winding down and retiring its interface. $6M gone from two USDC vaults in one transaction, and with it the runway to rebuild. - Galaxy launched an institutional curator on @Morpho live to 2400+ Fireblocks clients. https://t.co/9ixEVzEpuI