8 stories about Shutdown from across the crypto press, curated and summarized daily. Most recent: Oct 7, 2026.
Pudgy Penguins’ Ethereum layer 2 network, Abstract, will shut down on December 15. This follows Blast’s shutdown, marking two layer 2 closures in a week. Both networks struggled despite significant backing.
Blast, an Ethereum layer-2 network once holding $2 billion in assets, is shutting down due to declining activity and rising costs. Users must withdraw their funds by October 26, 2026.
BitMEX, known for introducing 100x leverage in crypto trading, has ceased all trading and deposits. Users can still withdraw funds, but fees now apply to balances left on the exchange. The platform's co-founder, Arthur Hayes, co-founded the exchange in 2014.
Router Protocol, a blockchain infrastructure project backed by Coinbase, is shutting down and will burn 303 million of its ROUTE tokens. The move comes after unsuccessful attempts to commercialize or sell its technology.
BitMEX, the exchange that introduced 100x leverage perpetual swaps, is closing by September 23. The platform's shutdown marks the end of an era in crypto derivatives trading.
SecondFi is closing its doors after hackers stole $2.4 million in ADA due to a vulnerability in its transaction signing software. The breach allowed attackers to derive private keys from blockchain data, highlighting critical security risks in Web3.
AscendEX announced on July 6 that it has ceased operations effective July 1, citing regulatory, financial, and operational challenges. The exchange has not guaranteed that users will receive their funds, leaving many in limbo.
Botanix, a Bitcoin DeFi project, has shut down with a brutal post-mortem bluntly stating that users simply did not care. The team cited market conditions and timing as key factors, admitting the project did not work in this market or timeline.