Parallel Finance Charges $500 Withdrawal Fee for Locked NFTs

23/08/2025 09:40

Parallel Finance, a defunct NFT lending platform, is imposing a $500 fee on users to withdraw their assets, following the discontinuation of its NFT lending product. Despite a six-month notice period, over $800,000 worth of high-value NFTs, including 11 Bored Ape Yacht Club (BAYC) and 39 Mutant Ape Yacht Club (MAYC) tokens, remain locked in the platform's contracts. Non-technical users face challenges in manually withdrawing their tokens due to the lack of front-end support. The issue was highlighted by oSnipe founder 0xQuit, who shared a guide on the X platform for manually extracting assets using Etherscan. The situation underscores the difficulties users face in reclaiming their NFTs, with significant assets still inaccessible on the platform.

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