🚨 PUDGY PENGUINS BURNED TENS OF MILLIONS OF DOLLARS ON A LAYER 2, THEN SHUT IT DOWN ITSELF

Abstract, the chain built by Pudgy Penguins' parent company, will stop operating on Dec. 15, 2026. Igloo funded the chain on its own for 18 months and still never found product-market fit.

The surprising part: Igloo chose NOT to launch a token or run an ICO to save it, while many other projects in the same spot do exactly that.

Around $47M in assets still sits on Abstract. Anyone who hasn't withdrawn must bridge out before the deadline, or the funds become inaccessible. Watch out for fake migration sites too.

Why did a chain with 400,000+ users still fail? And what does it say about the wave of L2 shutdowns in 2026 (Blast, Zero Network, Silicon Network...)?

👉 Read the full story: https://cryptothreads.io/news/abstract-layer-2-shutdown-igloo-losses/

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