Multi-signature wallet Linen Wallet will close and cease operations on November 30, and remaining funds will be returned to investors

On November 1st, Linen Wallet, a multi-signature wallet built on Safe, announced that it will be shutting down its application on November 30th and ending its operations. The remaining funds will be returned to investors. Assets in Linen Wallet are safe, as Linen is only the interface for managing Safe multi-ID wallets. Users can still manage their assets using other interfaces. After November 30th, Linen's infrastructure will be completely shut down, and the application, email, and Intercom chat support channels will be discontinued. Linen Wallet stated that the reason for its closure is due to a decrease in demand for advanced self-custody solutions among retail investors and regulatory uncertainty.