TechFlow News, June 16: According to an official announcement, Pyra stated that, after evaluating all viable options, the company has decided to wind down its operations. The official statement noted that the Drift vulnerability exploit severely impacted its business and users; although Pyra had continuously explored paths to sustain operations over the past several months, it ultimately failed to identify a sustainable solution.
Currently, users may still withdraw their balances; however, new user registrations have been suspended, and all existing Pyra cards have been canceled. Over the coming weeks, Pyra will gradually shut down its products and infrastructure, with key measures including launching a web portal enabling existing users to manage open positions and withdraw funds, and decommissioning the mobile application.
Additionally, once Drift resumes token listings, Pyra will assist affected users in receiving the relevant tokens via the web portal; the specific timeline has not yet been announced and will be updated based on information from the Drift team. Pyra advises users to withdraw their funds and export their account private keys as soon as possible—the related functionality will remain available until September 15, 2026.
