Pyra is shutting down
After evaluating every available path forward, we've made the difficult decision to wind down Pyra and end operations.
Our business and users were hit extremely hard by the Drift exploit, and while we've spent the past few months exploring paths to continue operating, we have ultimately been unable to find a sustainable way forward.
While this outcome is disappointing, we're focused on executing an orderly wind-down and supporting our users during the process.
What happens next
All user balances remain available for withdrawal, but new sign-ups have ceased and all existing Pyra cards have been cancelled.
Over the coming weeks, we will be winding down the product and infrastructure.
Key steps include:
- Launching a web portal for existing users to manage open positions and withdraw funds
- Shutting down the mobile app
When Drift's recovery tokens go live, we will facilitate their distribution to all affected Pyra users through the web portal. We don't yet have a timeline for when this will be, but we'll publish more information as soon as we receive it from the Drift team.
Our priority throughout this process is ensuring users have the tools and information they need to complete outstanding actions on their Pyra account, withdraw their funds, and access any Drift recovery tokens available to them.
We recommend withdrawing your funds and exporting your Pyra account's private key as soon as possible, but will keep this functionality available in our web portal until September 15th, 2026. Please contact us through our in-app support with any questions you may have.
Looking Forward
We're grateful to everyone who supported us throughout this journey: our users, investors, advisors, partners, and community.
Building Pyra has been the most meaningful experience of our lives to date. Although we weren't able to reach the outcome we set out to achieve, we're proud of what we built, what we learned, and the people we met along the way.
Thank you for your support and belief in us.