Ethereum Layer 2 Network Silicon Halts Bridge Deposits, Initiates Shutdown

According to CryptoSlate, Ethereum layer-2 network Silicon announced it stopped accepting new bridge deposits on September 2 and began the shutdown process. Users have until December 31 to withdraw all assets; after that, the network and block explorer will be taken offline, and any remaining assets will be lost. Currently, on-chain assets total approximately $9.75 million, comprising $2.66 million in USDC, $2.54 million in WBTC, $2.08 million in ETH, and $1.85 million in USDT. Assets bridged from Ethereum mainnet can be withdrawn directly back to the mainnet during the withdrawal window. However, tokens that were issued directly on Silicon cannot be bridged and must be exchanged using the remaining on-chain liquidity. As the shutdown progresses, this liquidity may dwindle, making swaps increasingly difficult. Additionally, Silicon's Web3 wallet will be deactivated along with the network closure. Users are urged to act promptly to secure their funds.