The crypto payments project said it could not find a sustainable recovery plan, has shut new registrations and canceled card services, while keeping user withdrawals available during liquidation.
Pyra said on June 16 that it will shut down and enter liquidation after failing to develop a sustainable recovery plan following a Drift-related security incident. The crypto payments project has closed new user registrations and canceled its card services, but said customer withdrawals remain available. Withdrawal functions are set to stay open until at least September 15, 2026, giving users a window to remove funds as the company winds down.