Ethereum Layer 2 Network Silicon to Shut Down by Year-End, $9.75M in Assets at Risk

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Ethereum news broke on September 2 when Layer 2 network Silicon announced its shutdown. New bridge deposits are no longer accepted, and users have until December 31 to withdraw their assets. Approximately $9.75 million remains on the chain, including $2.66 million in USDC, $2.54 million in WBTC, $2.08 million in ETH, and $1.85 million in USDT. Assets from Ethereum can be withdrawn, but native tokens must be traded using on-chain liquidity. The network upgrade process is now underway, with the block explorer and wallet set to go offline by year-end.

Odaily Planet Daily reports: The Ethereum Layer 2 network Silicon has ceased accepting new bridge deposits as of September 2 and has initiated its shutdown process. Users must withdraw all assets by December 31. At that time, the network and block explorer will be taken offline, and any remaining assets will be irrecoverable. Currently, approximately $9.75 million in assets remain on-chain, including $2.66 million in USDC, $2.54 million in WBTC, $2.08 million in ETH, and $1.85 million in USDT. Assets bridged from the Ethereum mainnet can be withdrawn directly to the mainnet during the window period; however, tokens originally issued on Silicon cannot be bridged directly and can only be exchanged using remaining on-chain liquidity. As the shutdown progresses, the difficulty of such exchanges may increase. Silicon’s Web3 wallet will also be discontinued.

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