Looping wallet shutting down..what’s the backstory?

Ahh flash to the past when looping was a rage for about a month. Now it looks like project has totally stalled. Not that I owned a lot of lrc, however I was using looping wallet to stake my ETH. Received word earlier this week the wallet was shutting down by the end of the month. Not exactly new to crypto but I don't remember a lot of wallets actually shutting down. Is there a back story to all of this? Supposedly if assets are not transferred by the end of the month they will no longer by available.