According to Cyvers Alerts, the Ethereum Layer 2 protocol Loopring announced that their smart contract wallet was only attacked by a guardian, which allowed the hacker to impersonate the wallet owner and obtain recovery approval from the official guardian by hacking into Loopring's 2FA service. The attacker then transferred the assets in the hacked wallet to an address of the hacker. All the stolen digital assets were exchanged for ETH, and the address currently holds 1373 ETH worth over $5 million. Previously, Loopring reported that some smart wallets were attacked by vulnerabilities and are working with law enforcement and security teams to track down the attackers.