Ethereum · South Korea · CryptoSlate
Nearly $10 million must escape a dying Ethereum L2 network before New Year’s Eve or risk becoming unrecoverable
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
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Silicon Network is shutting down with nearly $10 million still on-chain, giving users until year-end to exit.
Key facts
- Data from L2Beat showed Silicon held about $9.75 million in assets, led by $2.66 million of USDC, $2.54 million of WBTC, $2.08 million of ETH and $1.85 million of USDT
- Coinbase-backed Base and Arbitrum now secure about $24.7 billion between them, more than 80% of the roughly $30.5 billion held across Ethereum networks tracked by L2Beat
- The Ethereum layer 2 stopped accepting new bridge deposits and ended its network on Sept. 2, starting a withdrawal period that runs through Dec. 31
- Silicon Network is shutting down with nearly $10 million still on-chain, giving users until year-end to exit
Summary
01 Silicon Network stopped deposits and began shutting down, giving users until Dec. 31 to withdraw assets before its network and explorer disappear. 02 Nearly $9.75 million remains onchain, but withdrawal options vary by token, with directly issued assets depending on dwindling network liquidity. 03 Users risk permanently losing unrecovered funds after the deadline, while Silicon’s closure highlights pressures facing smaller Ethereum layer 2 networks. The Ethereum layer 2 stopped accepting new bridge deposits and ended its network on Sept. 2, starting a withdrawal period that runs through Dec. 31.