TechFlow news, on August 23, according to Protos, Parallel Finance—an NFT lending platform (formerly known as ParaX) that announced its shutdown in January—has been charging users $500 to assist them in withdrawing their assets. Since Parallel Finance discontinued support for its NFT lending product after a six-month notice period, over $800,000 worth of blue-chip NFTs remain locked in its smart contracts, while the platform's frontend has been deprecated, leaving non-technical users unable to manually retrieve their assets. The Parallel Finance team has taken advantage of this situation by charging high fees.
Additionally, Yuga Labs team member 0xQuit first highlighted this issue on X and published a tutorial on how to manually withdraw assets using the Etherscan block explorer; Parallel Finance CEO Yubo Ruan told media, "Please follow 0xQuit’s guide to withdraw your assets, as the platform officially shut down on August 1, 2025. Otherwise, all remaining NFTs will be liquidated to provide liquidity for lenders."
