Pudgy Penguins’ parent firm shuts down its own blockchain

What happened

The post Pudgy Penguins’ parent firm shuts down its own blockchain appeared first on Protos . Pudgy Penguins’ parent company, Igloo Inc, announced the shutdown of Abstract Chain after “losing tens of millions of dollars over two years” trying to keep it afloat.

The wind-down period was criticized for being “too short,” while other users found a class action waiver that needs to be agreed upon first in order to migrate funds. Pudgy Penguins' parent company, Igloo Inc, shutdown its own Abstract Chain after it cost the firm tens of millions of dollars to keep afloat.

Users have until December 15 to move funds off the Ethereum Layer 2 blockchain before they become inaccessible. Pseudonymous X user “Shugyō” speculated that “they have 100% buried this hoping people don’t notice,” while another, “Eddie,” claimed these are “totally normal terms btw.”

Key facts

• Pudgy Penguins’ parent company, Igloo Inc, — announced: the shutdown of Abstract Chain after “losing tens of millions of dollars over two years” trying to keep it afloat
• The wind-down period was criticized for being “too short,” while other users — found: a class action waiver that needs to be agreed upon first in order to migrate funds