Mirae-Owned Exchange Digital X Shuts Down Blockchain Venture

Digital X, a South Korean cryptocurrency exchange affiliated with Mirae Asset Group, is shutting down its blockchain business, Silicon Network. The Ethereum layer-2 blockchain was launched in 2024 to reduce reliance on trading fees and attract decentralized applications.

However, after about 18 months, Digital X has decided to shut down Silicon entirely by the end of December. This decision has left users struggling to retrieve their tokens, particularly from the Orbit Chain (ORC) staking service running on Silicon.

The ORC staking service allows users to delegate ORC to a validator and earn rewards, with staked tokens counting toward governance voting power. However, users have reported issues with withdrawing staked ORC since last year, with complaints circulating in online communities about the lack of response from Digital X.