Parallel Finance Closure Results in $800K Worth of Unclaimed NFTs
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Aug 25 2025
Parallel Finance Shutdown: The NFT lending platform Parallel Finance has shut down, leaving $800,000 in NFTs inaccessible and imposing a $500 withdrawal fee on users.
User Frustration: Affected users are frustrated by the high manual withdrawal fee and the sudden halt of services, raising concerns about asset security and protocol integrity.
Asset Recovery Guidance: Co-Founder Yubo Ruan has urged users to follow community tutorials for asset recovery, specifically recommending 0xQuit's Etherscan guide.
Potential Regulatory Impact: The shutdown may lead to regulatory scrutiny and influence future NFT regulations, as user frustration grows over the handling of locked assets.
About the author
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Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
