Krafton just yanked another PUBG experiment off the table. Black Budget, the time-loop extraction shooter announced in November 2025, is dead after two closed alphas and an internal review that deemed the current direction unsustainable for long-term play.

The project, first spotted in Krafton financials back in 2023 and led out of the Amsterdam studio under creative director Paweł Smolewski, ran alphas in December 2025 and June 2026. Feedback from those tests repeatedly flagged muddled combat clarity, run fatigue, crashes, and anti-cheat headaches — issues the studio said it addressed but apparently couldn't fix enough to greenlight a full release. This marks the second high-profile cancellation after PUBG: Blindspot shuttered just two months into early access earlier this year.

Krafton's Steam post thanks alpha participants and promises lessons learned will feed future efforts, but the pattern is clear: big swings at the extraction genre and tactical spin-offs keep landing in the trash. The next announced project, Ded.Net, now carries the weight of expectations with zero margin for another quick fold.