The Block • October 6th 2026, 8:11 PM
Pudgy Penguins-backed Ethereum L2 Abstract to shut down after losing ‘tens of millions’
Key Summary
Abstract, the Ethereum Layer 2 platform backed by the popular NFT collectibles brand Pudgy Penguins, will cease operations due to significant financial losses, forcing users to migrate their assets before December 15th.
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Abstract, the Pudgy Penguins-backed Ethereum L2, will shut down on Dec. 15. Users must bridge assets off before then.
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