Moonbeam just halted all user transactions, leaving late GLMR holders at mercy of an email helpdesk to recover funds
Moonbeam’s customary GLMR migration window closed final evening at 23:59 UTC (July 31), as its Polkadot community moved into an operational wind-down forward of a relaunch on Base.
The cutoff ended the usual route for self-custodied free balances, whereas trade holdings, frozen balances, and protocol positions remained topic to separate dealing with.
The official migration locked GLMR on Moonbeam and launched the identical quantity from a reserve minted upfront on Base, sending tokens to the identical user deal with at a 1:1 fee.
At 20:20 UTC on July 31, lower than 4 hours earlier than the cutoff, the migration contract held about 308.183 million GLMR. Total issuance was about 1.241 billion GLMR, placing direct-bridge uptake at 24.83% at that timestamp.
The remaining 75.17% covers a combination of free holdings, trade custody, staking, treasury, and different steadiness classes. Exchange processing and snapshot-covered locked balances adopted separate routes, so the contract ratio can not measure stranded or at-risk provide.
How the cutoff affected GLMR holders
Before the deadline, Moonbeam instructed customers to withdraw funds from liquidity swimming pools, lending markets, staking, crowdloans, governance locks, and different protocols the place doable earlier than bridging. The project’s July 3 announcement warned that funds left deployed in on-chain protocols could change into inaccessible after the community wound down. Its help steerage mentioned the bridge processed solely free balances.
For staking and crowdloan balances frozen at the cutoff, Moonbeam mentioned it might honor them on Base if a holder met Moonbeam’s account-signature and snapshot necessities. Its public steerage didn’t prolong the identical specific dedication to arbitrary governance locks, DeFi positions, or unclaimed rewards.
After the usual bridge closed, the migration portal directed late holders to email the helpdesk for particular person evaluation. Moonbeam had not printed a common late bridge or public post-cutoff declare portal. Individual evaluation due to this fact remained discretionary, with no public assure that each steadiness could possibly be recovered.
Exchange dealing with diversified. KuCoin said it might mechanically convert GLMR balances held on its platform at 1:1. Bybit announced its GLMR community migration and cutover schedule individually. Exchange-held balances adopted every venue’s course of reasonably than the direct migration-contract route.
Under Moonbeam’s printed wind-down schedule, the community entered upkeep mode at 00:00 UTC on Aug. 1 and started rejecting transactions. Moonscan’s notice mentioned blocks would proceed through the operational wind-down. User-directed transactions ended at the cutoff whereas block manufacturing continued.
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