2.64M ETH Exodus — Ethereum’s Validator Exit Line Swells 188% Since Mid-August

A mountain of ethereum is lining up to bail from validating, with 2.64 million ETH filing voluntary exit requests to stop staking.

Ethereum Stakers Confront Record Queue

As of this weekend, 2,642,006 ETH—worth about $12.34 billion—are lined up in the validator queue, ready to bow out of the staking process. Bitcoin.com News highlighted the queue 25 days ago when it hovered between 898,000 and 916,000 ETH, marking a 188% climb since mid-August. If you’re new to ethereum’s staking game, here’s a quick rundown on how the exit queue operates.

When a validator decides to stop staking, it files a voluntary exit and joins a first-come, first-served queue. Each epoch—about 6.4 minutes—allows only a set number of validators to leave, known as the churn limit. The bigger the exit crowd, the longer the wait, which now stretches well beyond a month for many. Validators earn ETH rewards by staking 32 ETH and validating network blocks.

The sudden swell in the validator queue is reportedly tied to Kiln Finance, a staking platform hit by hackers who exploited an API flaw to swipe about $41 million in solana ( SOL) tokens from Swissborg. Kiln responded to the breach and started an “orderly exit of all of its ethereum ( ETH) validators” as a “precautionary measure.” Many expect the ether exiting from Kiln to be restaked.

For validators stuck at the tail end, the wait is downright brutal. With the churn limit dragging departures past 45 days, those last in line face a test of patience and planning. Their ethereum is essentially locked until the queue clears, turning every epoch into a slow countdown that feels longer with each tick. Until network activity naturally lowers the queue or more validators exit and free slots appear, everyone has to wait their turn—no matter how big their stake.