Users on perpetuals trading platform Lighter are currently facing disruptions when attempting to withdraw funds, with withdrawals failing and returning an error message stating “Too many L2 Withdrawals,” according to user reports and onchain data.
The issue appears to be linked to a processing lag between Lighter’s Prover and its Sequencer, resulting in delayed finalization of withdrawal transactions.
Yellow.com has reached out to Lighter for a comment.
What Happened
As of the latest available data, the most recent committed block is 137,759,880, which was finalized roughly four hours ago, indicating that the system has fallen behind in processing state transitions.
Blockchain explorer data shows that while blocks are still being executed, withdrawal activity is not progressing normally.
In one of the latest visible blocks, only a single transaction and a single withdrawal log were recorded, underscoring the slowdown in withdrawal throughput.
Users attempting to withdraw funds have reported being unable to do so through normal channels, raising concerns about access to funds during the delay.
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The error message suggests that the Layer-2 withdrawal queue may be saturated or unable to keep pace with user requests due to the prover’s lag.
Why It Matters
As of publication, the Lighter team has not issued an official statement or public response addressing the withdrawal issue, its cause, or an expected timeline for resolution.
There has also been no communication clarifying whether withdrawals are being queued, retried, or temporarily halted at the protocol level.
Withdrawal disruptions on Layer-2 platforms often draw heightened scrutiny from users due to the reliance on sequencers and provers to finalize exits back to Layer-1.
In this case, the lack of public communication has left users relying on onchain data and error messages to assess the status of their funds.
The disruptions come as Lighter launched its native $LIT token early Tuesday morning.
The LIT token is trading at $2.80 as the time of writing, according to data from CoinGecko, down from its premarket price of around $3.25.
The token launch included a 25% airdrop to early participants, with the total supply split evenly between ecosystem growth (50%) and team/investors (50%).
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