The DeFi lending protocol Ionic Protocol has announced that it is ceasing operations, and users are required to withdraw their funds as soon as possible.

BlockBeats News, June 18th, DeFi lending protocol Ionic Protocol announced on X platform that due to a security vulnerability incident occurring in 2025, the impact has continued to escalate. The project has been forced to immediately cease all operations, and all users need to withdraw their assets from its various deployments as soon as possible.

Ionic Protocol further noted that the decision to close this time was "inevitable," and currently, the related services have entered the termination process.

Source: BlockBeats

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