Altura, an on-chain yield platform, is initiating an orderly shutdown of its vaults following a surge in withdrawal requests, according to CEO Ranveer Arora. Over the past 24 hours, the platform processed more than 8.5 million USDT in redemptions. The decision to wind down operations aims to protect user capital and ensure fair and efficient redemptions. The Altura team has informed all counterparties and partners, beginning the closure of positions in its investment portfolio. While some positions can be redeemed immediately, others will follow standard settlement periods. This move comes a day after Altura clarified it had no exposure to the Mainstreet (MSY) depegging incident, assuring that its HyperEVM lending vaults and Ethereum vaults remain unaffected.