PANews reported on June 16th that the DeFi protocol Pyra announced on its X platform that it will cease operations and gradually shut down. The platform stated that its business and users were severely impacted by the Drift security incident, and despite months of attempts to find a sustainable operating path, it has been unsuccessful. Currently, all user balances are still withdrawable, new user registration has been stopped, and existing Pyra cards have been cancelled. Pyra will launch a web portal in the coming weeks for existing users to manage their positions and withdraw funds; the mobile application will be shut down. Once Drift's tokens are relisted, Pyra will distribute them to affected users through the web portal. Pyra advises users to withdraw their funds and export their account private keys as soon as possible; this feature will be retained until September 15, 2026.