{"id":12738,"date":"2026-09-03T01:41:20","date_gmt":"2026-09-03T01:41:20","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=12738"},"modified":"2026-09-03T01:41:20","modified_gmt":"2026-09-03T01:41:20","slug":"ethereum-l2-silicon-shuts-down-with-nearly-10-million-still-onchain","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=12738","title":{"rendered":"Ethereum L2 Silicon shuts down with nearly $10 million still onchain"},"content":{"rendered":"

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Silicon Network is shutting down with nearly $10 million still on-chain, giving users until year-end to exit.<\/p>\n

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.<\/p>\n

Silicon said its explorer and network will shut down afterward, leaving assets that remain on the chain unrecoverable.<\/p>\n

It stated:<\/p>\n

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\u201cThis network is a non-custodial service, meaning that the custody and withdrawal of assets are managed directly by each user. Once the service has been terminated, assets that have not been withdrawn cannot be recovered.\u201d<\/p>\n<\/blockquote>\n

The closure unwinds a network that had sought to connect Korean centralized-exchange users with Ethereum\u2019s onchain economy. Silicon was built with Polygon CDK, connected to Agglayer and closely integrated with Korbit, one of South Korea\u2019s major crypto exchanges.<\/p>\n

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Related Reading<\/span><\/p>\n

Ethereum bridge users have 24 hours to exit before chain shuts down after just 5 week warning<\/h3>\n<\/p>\n

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Korbit\u2019s Web3 Wallet, which ran on Silicon and was designed to give exchange customers access to DeFi and decentralized applications, is also being discontinued less than two years after launch.<\/p>\n

Nearly $10 million now has to find an exit<\/h2>\n

The imminent shutdown now turns from a network decision into an asset-recovery problem, with different tokens facing very different paths off Silicon.<\/p>\n

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.<\/p>\n

How easily that money can leave now depends on what users hold.<\/p>\n

The network stated that assets originally bridged from Ethereum can return to the mainnet during the withdrawal window. External-wallet users must initiate a withdrawal, keep enough ETH for gas, and complete the required finalization before the cutoff.<\/p>\n