Blast Shuts Down Layer 2, Directs Users to Recovery Site

Blast has shut down its Layer 2 network and directed users to a recovery site to withdraw remaining assets. DefiLlama data shows bridge assets on the chain have fallen to $6.51 million, roughly 84% below the level recorded on Oct. 26. The wind-down marks the end of a network that once drew billions in deposits through its native yield model. Users now face a time-limited recovery process to reclaim funds from the bridge. What to watch next is whether remaining bridge assets decline further as withdrawals proceed and whether the recovery site clears all outstanding balances.