NFT -Breedier, closed in Jan, requires $ 500 for Late NFT recording

Parallel Finance, a reputable non-guilty token loan protocol, is reportedly closed after four years of services. Unfortunately, hundreds of thousands of dollars in controversial non-fungal token collections were stuck in parallel financial contracts after the NFT platform had quietly concluded its credit product earlier this month. In this article we will discuss this news bulletin in depth.

Parallel financing stops NFT room

Earlier this week, speculation emerged that Parallel Finance had closed its doors after four years. Sleuth 0xquit at the chain drawn attention to the problem at the weekend and posted on X those collections such as Bored Ape Yacht Club, mutant Ape Yacht Club and Doodles still in parallel vaults. Based on current floor prices, the stranded non-fungal tokens are valued at more than $ 800,000, although some rare properties can push the number even higher.

The vaults of the now defined parallel financing have 11 Bayc, 39 Mayc and 2 Doodles. The frontend is outdated, so that non -technical users are stuck and the founder charges a fee of $ 500 to help.

If your assets are stuck, here is a step by step to extract them:
1/🧵 pic.twitter.com/jfjsdqefk

– Stop (@0xquit) August 21, 2025

Parallel Finance is a crypto-liquidity loan platform that offers a series of financial products, including the use of liquid, money market services for loans and borrowing, cross-chain and Crowdloan services for parachain auctions. It aims to increase the capital efficiency and accessibility in Defi, allowing users to earn passive income from their set assets while retaining crypto -liquidity by derivatentokens. It previously also offered crypto liquidity loans with the help of NFTs as collateral.

Earlier this year, Parallel Finance announced that NFT -Loingen, together with other services, would be stopped on 1 August. At the time it gave users for six months to withdraw their NFTs. But with NFT activity far below the peak of 2022, many walked over the head of the deadline. Now that the recording time line of the site is far away, the platform demands some of us users to reclaim digital assets manually through blockchain interactions on Etherscan.

User to pay $ 500 for late NFT recording

In a screenshot of 22 August, shared by 0xquit, Yubo Ruan, the Chief Executive Officer of Paralell Finance, confirmed that late recordings will cost users $ 500 per digitally active, a policy that caused frustration among NFT holders. In reports to Proto’s, Ruan defended the attitude and urged people to follow community guides such as 0xquit’s tutorial. He also warned that no NFTs that are not recovered would eventually be liquidated to return money to lenders.

Parallel financing agrees with a fast -growing list of NFT market platforms that have left the NFT room. Sommige van de platforms die onlangs de NFT -markt hebben verlaten, zijn onder meer het NFT -marktplatform van BYBIT, Kraken’s NFT -platform, Quidd NFT Marketplace van Animoca Brands, VK’s NFT Marketplace, X2Y2 en de Solanart en Hyperspace NFT NFT -marktplaces. These closures reflect a broader trend of decline and restructuring in the NFT market after the speculative bell of 2022 and 2023.

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