Cypher and Osmosis cards stop spending Aug. 8; back up wallets

Cypher is ending card purchases at 00:00 UTC on Aug. 8, making Aug. 7 the final full day to use physical, virtual and business Cypher Cards. The company’s app, decentralized app and business platform are scheduled to go offline on Sept. 6, and users must complete withdrawals, claim rewards and preserve wallet access by that date.

Cypher’s timeline puts card transactions and spending cutoff at midnight UTC on Aug. 8 while the broader platform shutdown and card deactivation are set for Sept. 6. The company has not specified an exact time or timezone for the Sept. 6 deadlines.

Personal users can withdraw remaining card balances in the Cypher app by opening Cards, selecting Options and choosing Withdraw Card Balance. Withdrawals settle in USDC on the Base network, carry no Cypher fee and may take 24 to 48 hours to reach a user’s wallet. Business customers should use the business platform to pull their balances before it closes. Cypher stated stablecoins will remain withdrawable through Sept. 6 and that eligible unclaimed balances may be moved to a linked self-custody wallet where possible. The company has not published a single process that covers every type of leftover balance.

Users must claim CYPR token rewards, unlocked CYPR and other protocol incentives, including USDC, before Sept. 6. After the wind-down, reward-claim functionality, governance and support for CYPR will end. Claimed CYPR can remain on-chain but Cypher’s operational support for the token will stop.

Self-custody wallet assets remain under users’ control but access depends on recovery credentials and compatible wallet software. Cypher advises all users to export or back up recovery phrases or keys and to verify access through an alternative compatible wallet before the app is removed. Without exported credentials or verified access, users may be unable to reach on-chain assets once the platforms are offline.

Osmosis Pay cardholders were given the same spending cutoff and Sept. 6 offboarding deadline; the notice applies to the card product rather than the entire Osmosis platform. Neither Cypher nor Osmosis has published regional exceptions to the schedule.

Nium announced its acquisition of Cypher on July 8 and welcomed Cypher’s founder and engineering team into the company. Cypher described the closure as an acquisition-led wind-down and stated customer funds remain available for withdrawal without Cypher fees.

Cypher recommends completing withdrawals, reward claims and wallet backups well before the published dates given the lack of a universal fallback process for all unclaimed balance types and the unspecified Sept. 6 cutoff time.