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Harmony, Router Protocol, and Orionx Announce Closure Plans
Harmony, Router Protocol, and Orionx plan closures.
The Harmony team has proposed shutting down its L1 blockchain, while Router Protocol and Chilean crypto exchange Orionx have announced plans to cease operations.
Harmony Proposes Migrating ONE to Ethereum
On September 6, Harmony developers unveiled a plan to close the network launched in 2019, citing “threats from state-sponsored hackers and AI agents” as the reason.
According to the proposal, the team will record ONE balances at the final block and issue ERC-20 tokens on Ethereum. The new assets will be automatically distributed to the same addresses. The total supply and emission rate of ONE are expected to remain unchanged.
However, applications, liquidity pools, and multisig wallets cannot be migrated. Users are urged to withdraw funds from smart contracts by September 10.
From that date, validators—operators maintaining the blockchain—are advised to begin shutting down nodes. A compensation fund of $1.372 million is available for participants who meet the transition conditions and join the governance of the project’s new initiative. Payments are planned to be distributed over four quarters.
Harmony’s future development is linked to the creation and reprocessing of AI videos, with new ONE issuances proposed to be directed towards this area.
The plan is not yet binding and is subject to change. The date of the final block has not been specified by the developers.
Following the news, the price of ONE fell nearly 3% to $0.007.
Router Protocol to Close by September 30
The Router Protocol team announced a complete shutdown after more than four years of developing cross-chain transfer infrastructure.
According to the developers, revenues from such operations no longer cover expenses. The team attributed this to reduced fees, concentrated activity in a few networks, and capital outflow from Web3 to AI.
Over the past year, Router sought ways to continue operations, including discussing commercial agreements, technology licensing, and project sales. These negotiations did not yield a result that would sustain the team.
ROUTE holders are advised to monitor notifications from their trading platforms, as each will set its own deadlines for halting trading and withdrawals.
The team also plans to open-ill be launched
In the past 24 hours, the coin’s price rose by 19%.
Orionx Begins Closure After Discrepancy Found
On September 3, Orionx announced the start of its final closure. An audit revealed transfers of client assets exceeding $7 million to wallets not controlled by the platform.
The audit found discrepancies between internal records and actual balances of Bitcoin, Ethereum, XRP, and Polygon. User accounts showed more cryptocurrency than was present in the platform’s addresses, according to documents reviewed by La Tercera.
Withdrawals have been suspended. Orionx intends to return the maximum possible share of assets to clients but cannot guarantee full reimbursement at this time.
On September 2, the company filed a criminal complaint against co-founders and former executives Roberto Zibert and Joaquin Diaz. Orionx alleges they had access to cryptocurrency storage systems and were involved in operations leading to the shortfall.
Zibert and Diaz denied the allegations they stated they did not act against users’ interests and that the reasons for the discrepancies have not yet been determined
In June 2025, Orionx’s investment round was led by Tether, the issuer of the USDT stablecoin.
Previously, in July this year, the Bitcoin exchange BitMart announced its closure. Later, the trading platform BitMEX made a similar decision.
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Source: forklog.com