The multi-signature wallet Linen Wallet will close and cease operations on November 30, and the remaining funds will be returned to investors

ChainCatcher news, based on Safe, the multi-signature wallet Linen Wallet announced on platform X that it will shut down the Linen Wallet application on November 30 and cease company operations, returning remaining funds to investors. The assets in Linen Wallet are secure; Linen is merely the interface for users to manage Safe multi-ID wallets, and users can still use other interfaces to manage their assets. The Linen infrastructure will be completely shut down after November 30, and thereafter the application, email, and Intercom chat support channels will be disabled.

Linen Wallet stated that the reason for its closure is the decreased demand from retail investors for advanced self-custody solutions and regulatory uncertainty.