DeFi protocol Pyra has announced it will cease operations due to the impact of the Drift security incident. The platform revealed that despite efforts to find a sustainable path, it has been unable to recover from the incident's effects on its business and users. Pyra has halted new user registrations and cancelled existing Pyra cards, but all user balances remain withdrawable. Pyra plans to launch a web portal in the coming weeks to allow existing users to manage their positions and withdraw funds, as the mobile application will be discontinued. The platform also intends to distribute Drift tokens to affected users once they are relisted. Users are advised to withdraw their funds and export their account private keys by September 15, 2026, when this feature will be disabled.