Nearly $10 Million at Risk as Ethereum Layer 2 Prepares to Shut Down

Nearly $10 million in assets may need to leave an Ethereum layer 2 network before New Year’s Eve, after the project halted deposits and warned users that withdrawal procedures vary. The network and its block explorer are scheduled to shut down, creating a deadline for users to move funds through the appropriate exit route. CryptoSlate reported that assets remaining on the network after the shutdown could become unrecoverable. The warning highlights operational risks for users holding funds on an Ethereum scaling network that is winding down. Deposits are no longer available, while the remaining withdrawal process depends on the asset or route involved. The report did not identify the network by name in the supplied material. Users and market participants should verify the applicable exit instructions before the stated deadline.