Pudgy Penguins Owner Is Shutting Down Its Abstract Chain, Where $47 Million Still Sits

Pudgy Penguins Owner Is Shutting Down Its Abstract Chain, Where $47 Million Still Sits

Abstract says funds still on the chain after Dec. 15 will be inaccessible, ending a consumer-crypto bet that Igloo CEO Luca Netz says cost tens of millions of dollars.

Pudgy Penguins Owner Shuts Down Its Abstract Blockchain After Tens of Millions in Losses

Igloo CEO Luca Netz says the company burned through tens of millions over 18 months funding the chain, which signed partnerships with Red Bull Racing and Disney but never launched its own token.

CoinStats - Abstract to shut down on December 15, urges u...

🚨 Abstract will close on December 15, urging users to withdraw funds from its network. 💥 The $ETH layer-2 project cited slow growth, thin liquidity, and difficult market conditions. 🧐 Pudgy Penguins’ parent Igloo Inc. struggled to scale the platform for everyday users. Continue Reading:Abstract to shut down on December 15, urges users to withdraw funds The post Abstract to shut down on December 15, urges users to withdraw funds appeared first…

AbstractChain Closes as Ethereum's Layer 2 Landscape Evolves

Ethereum's Layer 2 solution AbstractChain is winding down operations, marking a significant shift in the ecosystem. This follows another shutdown within the week.

Abstract to Shut Down Dec. 15, 2026: Users Urged to Move Assets

Abstract has announced it will shut down on December 15, 2026, directing users to migrate their assets before the deadline, per a notice from the platform reported by Odaily News.Read more...