Router Protocol
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Summary
Router Protocol, a Coinbase Ventures-backed cross-chain bridge infrastructure project launched in 2020, announced on September 5, 2026 that it will cease all operations by September 30, 2026 and permanently burn 303,333,198 ROUTE tokens (roughly 30% of maximum supply) after failing to find a buyer, licensing partner, or sustainable business model. The shutdown announcement disclosed, for the first time in prominent fashion, two 2025 security incidents affecting the protocol's bridge infrastructure — a February 2025 exploit the team says was 80% recovered through negotiation, and a July 2025 exploit whose losses the team says were never recovered. ROUTE's token price fell roughly 50% on the news to a new all-time low near $0.00004, and withdrawal guidance for holders and bridge users has been fragmented across individual exchanges rather than centrally coordinated.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(9 events)
2020
Router Protocol founded as a cross-chain liquidity and bridging infrastructure project.
TokenInsight / Crunchbase background reportingDecember 2021
Router Protocol raises $4.1 million in strategic funding led by Coinbase Ventures, with participation from Polygon and others.
TechCrunchJuly 2024
Router Protocol launches Router Chain, its own proof-of-stake layer-1 blockchain.
CryptoTicker / crypto.news background reportingFebruary 2025
A solver-related exploit affects Router Protocol; the team says roughly 80% of the lost value was later recovered through negotiations.
The Block2 July 2025
Router Protocol's asset bridge module is exploited via a missing sender-validation check, resulting in unauthorized transfers of tokens valued at over $1.1 million.
Router Protocol incident report (Medium)September 2025
Router Protocol winds down its standalone Router Chain layer-1 blockchain, citing infrastructure costs, validator bloat, and security risk.
CryptoTicker background reportingSeptember 2026
Router Protocol announces it will cease all operations by September 30, 2026 and burn 303,333,198 ROUTE tokens, disclosing the two 2025 security incidents as part of the announcement.
KuCoin news flashSeptember 2026
ROUTE token price falls approximately 50% to a new all-time low near $0.00004 following the shutdown announcement.
crypto.newsSeptember 2026
Target date for Router Protocol to cease all cross-chain operations, including the Router Nitro bridge and Router app.
KuCoin news flashmodel: claude-code-investigator
generated: 9/18/2026, 11:45:26 PM
last updated: 9/19/2026, 2:43:37 AM
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