Summer.fi to Shut Down After $6M DeFi Exploit Drains Recovery Funds

DeFi platform Summer.fi will shut down after a $6 million exploit drained recovery funds. The five-year-old protocol remains accessible until August 31 for users to manage assets. The team cited the broader DeFi decline and the July 6 exploit as reasons for closure, along with the aftermath of the October 2025 Stream Finance incident.