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Silicon L2 shutdown leaves $9.75M at risk
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Silicon L2 shutdown leaves $9.75M at risk

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  • Silicon Network has begun shutting down, with nearly US$9.75 million still on-chain.
  • Users have until 31 December 2026 to withdraw assets before the network closes permanently.
  • Some directly issued tokens may depend on shrinking liquidity to exit the network.

Silicon Network, an Ethereum (CRYPTO:ETH) layer-2 network, began shutting down on 2 September with nearly US$9.75 million still on-chain.

The network stopped accepting new bridge deposits and gave users until 31 December to withdraw their assets before its explorer and network disappear.

Silicon’s withdrawal documentation warns that assets left on the network after termination cannot be recovered.

L2Beat data shows Silicon held about US$2.66 million in USDC, US$2.54 million in WBTC, US$2.08 million in ETH and US$1.85 million in USDT.

Assets originally bridged from Ethereum can return to the mainnet during the withdrawal window, but users must complete the required withdrawal process.

Tokens issued directly on Silicon face greater risks because they cannot be bridged directly to Ethereum and depend on remaining network liquidity.

Silicon was built with Polygon CDK, connected to AggLayer and integrated with South Korean exchange Korbit, whose Web3 Wallet is also being discontinued.

At the time of reporting, Ethereum price was $2,403.61.

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