After nearly two years of operations, the Bitcoin liquidity protocol announced it will wind down and conclude operations. Lending no longer accepts new deposits or borrows and interest accrual has stopped, while Strategy deposits and new LSD staking are closed.

Borrowers must repay outstanding loans by November 14, 2026. The final deadline for repayments, withdrawals and unstaking is November 19, 23:59 UTC.

Unpaid loans after the deadline face collateral liquidation, with proceeds going toward lender obligations; liquidation and distribution dates are still to be confirmed. The Aptos-to-B² bridge will stay available for aBTC redemptions.

The shutdown follows a May 18 incident in which an attacker used a compromised admin key on Monad to mint 1,000 unbacked eBTC, nominally worth about $76.7M. Realized losses were far smaller, around 11.29 WBTC (roughly $867K) borrowed through Curvance.