Altura to phase out vault operations amid withdrawal rush

Ranveer Arora, CEO of the hyperEVM-based yield protocol Altura, has announced that the Altura Vault will be phased out. He stated on X that the decision was made after an unprecedented volume of withdrawal requests over the past 24 hours, during which the protocol immediately processed redemptions of more than 8.5 million USDT. Arora added that while some positions can be redeemed immediately, others will require more time. He explained that funds are being returned as the underlying positions are redeemed.