Pudgy Penguins-backed Abstract to shut down after ‘tens of millions’ in losses

Ethereum layer-2 Abstract will shut down Dec. 15 after Igloo CEO Luca Netz said the company lost tens of millions of dollars ...
Blockonomi

Abstract Shutdown Set for Dec. 15 as Igloo Reports Tens of Millions in Losses

Abstract shutdown is set for Dec. 15, 2026. Igloo cites high costs and weak demand. Users must bridge funds before the ...
CryptoSlate

Why Abstract is killing its Ethereum L2 instead of launching a token to save it

Abstract joins a wave of rollup shutdowns and migrations as weak fee revenue turns infrastructure costs into an existential ...

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.
Decrypt

Pudgy Penguins' Ethereum Layer-2 Abstract Is Shutting Down

Abstract, the Ethereum layer-2 network built by Pudgy Penguins parent company Igloo Inc., is shutting down after struggling ...
Crypto Briefing

Abstract to shut down blockchain on Dec. 15 after consumer crypto model proves unsustainable

Abstract, Igloo Inc.'s Ethereum layer-2, shuts down December 15, 2026. Learn why it failed and what users must do before ...

Another One Bites the Dust: Pudgy Penguins’ Abstract Layer 2 to Shut Down

Igloo, the parent company of Pengu crypto, will shut down Abstract on Dec. 15, 2026, and users must move their assets before ...
Cryptopolitan on MSN

Pudgy Penguins' Abstract L2 sets a Dec. 15 bridge-out deadline and skips a rescue token

Abstract L2 users must bridge assets out before the chain shuts on Dec. 15, 2026, after Igloo chose not to launch a token to ...