Paying tribute to the end of the Lu Mao era, I recently organized some old wallets and found that LPs added in some DeFi platforms before can no longer be withdrawn, including front-end shutdowns, rug pulls, exhausted pools, and expired domain names. Since Q1 2026, the crypto DeFi protocols have experienced a wave of shutdowns and risk control notices. Statistics show that over 20 crypto projects (including more than 10 DeFi protocols) have announced suspension of operations, phased closures, or urged users to withdraw funds urgently.

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