According to Foresight News, Linen Wallet, a multi-signature wallet built on Safe, announced that it will shut down its application and cease operations on November 30th, returning the remaining funds to investors. Assets in Linen Wallet are secure, as Linen only serves as an interface for users to manage their Safe multi-ID wallets. Users can still manage their assets using other interfaces.
Linen's infrastructure will be completely shut down after November 30th, and the application, email, and Intercom chat support channels will be disabled. The reasons for Linen Wallet's closure include a decrease in demand for advanced self-custody solutions among retail investors and regulatory uncertainty.
