The crust near an extinct mid‐ocean ridge provides unique constraints on how its accretion and deformation responded to the cessation of spreading. Here we present crustal thickness and Vp/Vs measurements beneath 11 Ocean Bottom Seismograph sites that cross the South China Sea's extinct spreading axis. We find that the oceanic crust, which generally had only slight thickness changes once spreading started, abruptly thins at sites close to the extinct ridge axis. Abnormally high Vp/Vs ratios are obtained at several sites south of the ridge, indicating the presence of serpentine. These observations imply that, in its final stage, spreading changed to an ultraslow accretion style. As the axial crust thinned, normal faults and/or detachment faults began to form. Water could penetrate more deeply through these faults, and large fault slip could raise ultramafic peridotites to near or at the seafloor, creating favorable conditions for their enhanced serpentinization.