Igloo Inc. to Shut Down Abstract Ethereum Layer-2 Network on Dec. 15

Igloo Inc. announced it will permanently shut down its Ethereum Layer-2 network, Abstract, on December 15, 2026. The decision follows tens of millions of dollars in operating losses across roughly 18 months, with daily on-chain fee revenue of roughly $3,900 failing to sustain operational costs. Abstract, launched in January 2025, achieved over 400,000 users and processed more than 300 million transactions. Users holding an estimated $76 million in bridged assets must withdraw or migrate their holdings before the December deadline, as unmigrated assets will become permanently inaccessible.