The platform allows users to recover ETH, wrapped ETH and USDB held in Blast wallets, pending withdrawals or Blast Mobile accounts. The team announced the process in a post on X, confirming that the recovery website would remain active for one year.
How Blast Users Can Recover Their Remaining Funds
Users can begin by searching for an address that previously held ETH, wrapped ETH or USDB on Blast. The system also supports claims submitted through an authorized wallet, including the owner of a Safe account or another smart wallet approved to act for the original address.
For eligible assets on Ethereum mainnet, payments are made directly through recovery smart contracts.
Blast Mobile users must follow a different procedure because their app addresses do not exist on Ethereum. They need to import the application's seed phrase into a compatible wallet, such as MetaMask or Rabby, and connect that wallet to the recovery website. The connected wallet will display an address different from the one previously shown in Blast Mobile.
The recovery page also includes a security warning: "Only ever type your seed phrase into your wallet app, never into a website." Users should follow this instruction when accessing their funds.
Blast Bridge Balance Falls by Around 84%
Data from DeFiLlama showed that Blast's canonical bridge on Ethereum held approximately $6.51 million as of November 3. That compared with roughly $41.04 million on October 26, representing an approximately 84% decline in the bridge's reported value.
The balance also dropped sharply between October 30 and October 31, falling from approximately $36.63 million to $6.59 million.
These figures represent the assets remaining in the bridge, not the total amount users have successfully recovered. The bridge balance therefore should not be interpreted as a measure of completed recovery claims.
Blast Cited Unsustainable Operating Economics for Shutdown
Blast first announced plans to wind down its network on October 2. The team said the economics of operating the chain no longer made sense because maintenance costs exceeded the revenue generated by the layer-2 network.
The project had originally aimed to build a self-sustaining blockchain for users and developers. However, the team said it could not identify a credible path toward making the network economically viable.
As part of the wind-down, Blast began removing its assets from Lido, a process it expected to take approximately one week. Withdrawals were temporarily frozen during that period.
The team subsequently reduced the withdrawal delay to 24 hours and set October 26 as the final date for withdrawals through the standard Blast interface. Users could still withdraw assets afterward through Blast's bridge contracts on Ethereum.
Katana Repeats Blast User Snapshot Announcement
The shutdown also coincided with activity from Katana, a DeFi-focused blockchain that announced on October 26 that it had taken a snapshot of Blast users and wallet activity. Katana said it would provide additional boosts to wallets active on its network and repeated its snapshot announcement on November 4.
Separately, Cryptopolitan reported that Arbitrum One recorded its highest daily active address count since July 18, 2024, on October 28, reaching 1,087,999 addresses.
Polygon PoS led the tracked networks that day with 1,634,452 active addresses. Base ranked second with 1,457,258, while Arbitrum placed third.
With Blast's network now shut down, users have until November 4, 2027, to access the recovery process and claim eligible assets remaining from the platform.
source: cryptopolitan
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they’re not financial advice. We’re sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves.
Hokanews isn’t responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can’t promise it’s 100% complete or up-to-date.
