Shutdown

Blast

2026-10-02 14:52:00

Blast to Wind Down Operations, Tells Users to Withdraw Assets Before Oct. 26, 2026

Blast said on X that it will shut down and begin a phased wind-down of the network, citing economics that no longer work. The project said it originally aimed to build a chain that could sustain itself for both users and developers, but the ongoing cost of maintaining Blast now exceeds the revenue generated by the Layer 2, and the team no longer sees a credible path to making the chain economically sustainable. As part of the shutdown process, Blast asked all users to move funds from the network back to Ethereum mainnet, including balances held in the Blast PWA. To make withdrawals easier, the withdrawal delay will be reduced to 24 hours. Still, users will face a temporary pause first, because Blast plans to withdraw its Lido assets before reopening withdrawals under the new delay window. That step is expected to take about one week. Blast said users should complete withdrawals through the standard Blast interface by Oct. 26, 2026. After that date, funds will remain withdrawable, but users will need to interact directly with the Blast bridge contract on Ethereum L1. The project said detailed instructions will be released before the deadline.

130

Omnity Networ

2026-09-28 03:12:43

Omnity Network to shut down Omnity Hub operations on Sept. 26

Bitcoin DeFi infrastructure project Omnity Network said on Aug. 26 that it will shut down its cross-chain bridge, Omnity Hub. Under the timeline set out by the team, all operations will end 30 days after the announcement, which puts the final shutdown date at Sept. 26. The company said the decision was driven by two pressures tied directly to the bridge business itself: revenue from the cross-chain bridge was not enough to cover security and maintenance costs, and the security pressure facing cross-chain bridges had increased. The announcement sets out both the closure of Omnity Hub and a fixed end date for the broader service operation.

250

Omnity Networ

2026-09-28 02:53:12

Omnity Network to wind down operations, with RichSwap and Satsman set to close within 30 days

Omnity Network said it will gradually shut down after running out of operating funds, according to an official announcement cited by BlockBeats on Sept. 28. The team said its Bitcoin DeFi products, RichSwap and Satsman, will cease operations within the next 30 days. RichSwap liquidity providers were urged to withdraw liquidity as soon as possible. Omnity also said it plans to upgrade its smart contracts to remove existing lock-up restrictions so users can withdraw funds without limits. A detailed timetable and liquidity withdrawal guide will be released soon. During the transition, support channels will remain open for 30 days to help users complete the process. Although the project is ending, Omnity said core team members will continue supporting the Bitcoin ecosystem and plan to stay involved through personal efforts and developer collaboration groups.

310

Universal Pro

2026-09-20 01:13:37

Universal Protocol to Shut Down on Nov. 17 After Failing to Reach Sustainable Adoption

Universal Protocol said it will wind down operations after determining that adoption had not reached the level needed to support the protocol over the long term. The token-wrapping project will keep running for a 60-day transition period and is scheduled to formally shut down on Nov. 17. During that window, uAssets will remain backed 1:1 by their underlying assets, and the existing infrastructure will continue to operate as usual. Users can sell uAssets through the Universal app or redeem the underlying assets directly through the mint and redeem interface. The team also said large redemptions can be coordinated through its official email channel. After Nov. 17, any remaining uAssets will be redeemed through smart contracts. On Base, six uAssets — uSOL, uXRP, uDOGE, uADA, uBTC and uLTC — will convert into their corresponding bridged assets, while all other uAssets will be redeemed into USDC. Foresight News had previously reported that Universal raised $9 million in February 2025 in a round led by a16z.

350

Switchboard

2026-09-19 05:57:36

Switchboard to Shut Down, End All Support Services on Sept. 25

Oracle protocol Switchboard said it is shutting down, with core development contributor Switchboard Technology Labs Inc. deciding to wind down remaining operations after exhausting all alternatives. The project said all existing support services will end on Sept. 25. Founded in 2021, Switchboard said it aimed to build a permissionless and customizable data layer, and launched a permissionless feed creation tool in 2022 that let users create custom data sources. The team said market conditions have changed sharply: AI has lowered the barrier to oracle development, the bear market has slowed the launch of new public blockchains, and project budgets have contracted significantly, hurting both pricing power and demand across the oracle sector. Switchboard also said that following a recent security incident and the departure of other contributors and node operators, all related implementations are now deprecated. Protocols relying on Switchboard were told to migrate immediately to other oracle providers, including Pyth and RedStone, to avoid service disruptions. BlockBeats had previously reported that Switchboard raised $7.5 million in a Series A round announced on May 28, 2024, led by Tribe Capital and RockawayX, with participation from Solana Foundation, Aptos, StarkWare, Mysten Labs, InfStones Global, OtterSec, Bixin Ventures and angel investors.

490

Linera

2026-09-19 01:11:00

Linera shuts down after token sale misses minimum target, subscriptions refunded

Linera has halted operations after its fundraising effort failed to meet the minimum threshold required to complete the token sale, according to founder Mathieu Baudet. In a message posted on Discord, Baudet said the project received about $900,000 in subscription commitments through the sale on Sonar, but that amount was not enough to clear the minimum target. He said all subscription funds have already been returned to participants. Baudet also said the team had tried to raise emergency funding to keep the project running until mainnet launch, but it was unable to secure the capital it needed, leading to the shutdown. Earlier information cited by PANews said Linera’s LNRA community round had secured commitments of 848,300 USDC, and that funds would be refunded if the sale failed to reach the 1.5 million USDC minimum goal.

650

CoinEx

2026-09-15 03:02:32

CoinEx founder says exchange shutdown reflects rising security and compliance risks, pledges CET buyback at listing price

CoinEx founder Yang Haipo said the decision to shut down the platform came after what he described as deep consideration and the need to face a harsh reality. In a post on X on Sept. 15, he wrote that CoinEx failed to become one of the leading centralized exchanges in the industry, while the security and compliance risks tied to running a crypto CEX have become increasingly difficult to control. He said revenue may fall, but responsibility does not, adding that taking on unlimited risk for limited income is no longer a rational choice. On the platform token CET, Yang said CoinEx will repurchase the token at its initial listing price of 0.005 USDT per token, with no cap on the amount. He also disclosed that he had seriously considered selling CoinEx, but decided against it, saying users entrusted assets to the platform because they trusted CoinEx and, in many cases, trusted him personally.

760

CoinEx

2026-09-15 02:33:20

CoinEx to Shut Down Trading Platform on Dec. 22, Begins Orderly Wind-Down on Sept. 15

CoinEx said it will cease operations and start an orderly shutdown process from Sept. 15 after what it described as a careful assessment of current business conditions. In its announcement, the exchange cited a prolonged downturn in the crypto market, a sharp contraction in industry-wide trading volume and liquidity, as well as rising regulatory requirements and compliance costs. The company said its asset reserve ratio is currently above 100% and that user assets are fully backed. Under the shutdown schedule, CoinEx will stop all non-spot services on Sept. 22, then halt all spot trading on Sept. 29. CoinEx Smart Chain, or CSC, and OneSwap will also stop operating on the same day. Withdrawal services will remain available until Dec. 22, when the CoinEx trading platform will officially close. CoinEx added that CoinEx Wallet and CoinEx Vault are not affected by the shutdown and will continue operating as usual.

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