Parallel Finance, the now-defunct NFT lending platform, took the opportunity to charge users a $500 asset withdrawal fee, with users also being able to manually withdraw their assets.

According to Odaily Planet Daily, Parallel Finance (formerly ParaX), an NFT lending platform that announced its closure in January, charged users a $500 fee to help them withdraw their assets from the platform. Because Parallel Finance stopped supporting its NFT lending product after a six-month notice period, over $800,000 worth of blue-chip NFTs remain locked in its smart contracts, while the platform's front-end has been deprecated, preventing non-technical users from manually withdrawing their assets. The Parallel Finance team took advantage of the situation to charge high fees. (Protos)

In addition, Yuga Labs team member 0xQuit was the first to point out this issue on the X platform and also released a tutorial for manually extracting assets using the Etherscan block explorer. Parallel Finance CEO Yubo Ruan told the media, "Please follow 0xQuit's tutorial to withdraw assets, as the platform will officially shut down on August 1, 2025. Otherwise, all remaining NFTs will be liquidated to provide liquidity to lenders."