Abstract, an Ethereum layer 2 blockchain owned by Pudgy Penguins parent company Igloo, will shut down on December 15, 2026. Users must withdraw their funds before the deadline or risk losing access to roughly $47 million still on the chain. The shutdown follows stagnated growth due to limited liquidity, few institutional users, and operational challenges, leading Igloo CEO Luca Netz to reveal losses of tens of millions over two years. The company will now focus on Pudgy Penguins NFTs and the PENGU token, while providing users with migration tools to transfer their assets off Abstract before closure.
The shutdown of Abstract blockchain owned by Pudgy Penguins parent company Igloo is the subject here. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Oct 07, 2026 04:41 WIB: out of 50 major cryptocurrencies priced on Pluang, 9 rose and 40 fell today. EOS rose 8.13% to Rp12.649 with a typical hold time of 87 days, UNI dropped 6.42% to Rp153.189 with a buy order activity of 65%, and COTI fell 6.01% to Rp242 with a sell order activity of 58%.
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