Bungie was taken Conclusion 2 completely offline (at the time of posting remains invisible) following an issue released earlier today when players started losing “Glimmer, Bright Dust, Infusion Equipment, and / or other game modes”.
The studio released a brief statement this morning, saying the game was offline "to prevent further loss of building materials." By 2pm ET / 11am PT they had found the root of the problem, but so far they have completed the necessary tests to continue this online.
Note that this is not a case of losing just the last of your collections; some players have missed major shows for their catch, including some of the game's Ascendant Shows and all Glimmer reservations.
So when you try to play Conclusion 2 and you can't, or have played before and seen that your stuff is lost, that's why!
END at 5:50 pm: Correction received, along with player circuits are passed back to recover lost items. It will only be a few hours until the live,