Blast Shuts Down Amid Profit Woes, Urges Asset Withdrawals

Ethereum layer-2 network Blast is shutting down due to worsening profitability. The project announced its closure on October 2, stating that maintaining the chain had become too expensive and it could not find a viable path to sustainable operations.

Blast urged users to move their assets to the Ethereum mainnet by October 26, as withdrawals will be temporarily suspended for about a week while the platform retrieves deposited assets from Lido. After this period, a 24-hour withdrawal waiting period will apply.

Once the recovery process is complete, users can withdraw their assets directly through the Blast Bridge smart contract on the Ethereum mainnet, with instructions to follow beforehand. Balances held in the Blast web app or progressive web app must also be transferred to the Ethereum mainnet before October 26.