Bitcoin node connection shuts down: BlueWallet users urged to withdraw funds

Cointelegraph Team Cointelegraph

BlueWallet is sunsetting its lightning node connection to Lndhub, according to an official statement. BlueWallet will cease custodial lightning operations, meaning that BlueWallet users of the Bitcoin (BTC $23,822) Lightning Network must connect to nodes to continue using BlueWallet lighting services.

Calle, a lightning developer who tweeted about the change, told Cointelegraph:

The most important thing is that people don’t panic and suddenly noobs move out their on-chain funds or wrong lightning balances.

The Lightning Network is a layer-2 payment solution built upon Bitcoin. The Lightning Network is used to send small amounts of Bitcoin around, called satoshis or sats, often using a lightning wallet.

Blue Wallet is a popular Lightning Network wallet with over 42 BTC ($1 million) liquidity. Its largest channel has a 4 BTC ($95,000) capacity, according to data from Amboss. BlueWallet is a popular lightning wallet, often recommended by well-known Bitcoiners.

Calle continued, “It’s important to realize that lndhub is a protocol that helps you connect wallets to accounts. The wallet (in this case) is BlueWallet but other wallets also support LndHub (like Alby or Zeus).”

The account is shutting down, not LndHub or Bluewallet itself. The account here is hosted by the BlueWallet team and they don’t want to do this anymore.

While users will still be able to withdraw their sats, creating new or refilling existing lightning wallets on the LndHub node will no longer be possible. BlueWallet publicly stated that users with sats connected to BlueWallet’s lightning node, they should move them as soon as possible.

The service will be shut down on April 30th, so it is crucial that BlueWallet users move their sats to another service or wallet of their choice. However, regular Bitcoin wallets are not affected by this change.

While some may view the change as a thorn in the side of Lightning Network adoption, it is important to note that BlueWallet will “only support self-custody solutions,” according to the website. The change seeks to promote decentralized solutions and self-custody.

Author

Cointelegraph Team

Cointelegraph

We are privileged enough to work with the best and brightest in Bitcoin.

XRP rebounds as retail demand shows signs of returning

Ripple exhibits a subtle rebound outlook, trading near $1.10 at the time of writing on Thursday. The headwinds in the crypto market are largely attributable to mounting investor uncertainty amid renewed tensions in the Middle East.

Crypto Today: Bitcoin, Ethereum, XRP rise after defending key support amid renewed Middle East tensions

Cryptocurrency prices are broadly rebounding on Thursday, following a dominant sell-off largely attributed to geopolitical tensions in the Middle East. Bitcoin has risen and trades near $63,000, while Ethereum pares losses around $1,750 as bulls aim for a short-term breakout above $1,800.

Bitcoin stalls as mixed ETF flows, renewed US-Iran tensions cap upside

Bitcoin trades at $63,000 on Thursday, recovering slightly after facing rejection near $64,000. Renewed geopolitical uncertainty has dampened risk appetite, limiting BTC upside potential.

Aptos recovery eyes a breakout rally after crucial blockchain bug fix

Aptos price is up 3% at press time on Thursday after three consecutive days of weakness earlier this week. The recovery is likely linked to a crucial blockchain bug fix that exposed its entire Total Value Locked of over $100 million at risk.

Bitcoin: Quarter-end rebalancing might fuel BTC next bullish move

Bitcoin (BTC) is up over 3% so far this week, trading above $61,800 at the time of writing on Friday after slipping to a 21-month low earlier this week. Institutional selling continued, with spot Exchange Traded Funds (ETFs) recording net outflows of over $520 million through Thursday, pointing to the eighth consecutive week of withdrawals.