1inch Card to shut down, users told to move balances by December 18
- —New user registration for 1inch Card is closed; existing cards still work
- —Users must withdraw or spend balances by December 18
- —Funds are held by licensed issuer Monavate, not by 1inch
- —Remaining balances can be claimed for six years after account closure
Why it matters: The shutdown removes a way to spend crypto directly and highlights counterparty risk from third-party card issuers.
Source: PANews