H1 2026 Crypto Project Shutdown Wave (100+ Projects)

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Summary

Between January and June 2026, over 100 cryptocurrency projects ceased operations through a combination of voluntary wind-downs, bankruptcy filings, security-exploit collapses, and funding exhaustion — the largest wave of crypto project closures since the 2022 bear market. Unlike the 2022 cycle, which was dominated by fraud-linked collapses such as FTX and Terra/LUNA, the 2026 wave was characterized primarily by structural capital drought, technological obsolescence, and competitive consolidation around dominant platforms. DeFi protocols accounted for more than half of closures, followed by wallets, centralized exchanges, Layer-2 networks, and NFT marketplaces.

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Timeline(15 events)

2026-01-24

Nifty Gateway (Gemini-owned NFT marketplace, $300M peak GMV) announces closure; platform enters withdrawal-only mode

CoinDesk

2026-02-17

ZeroLend DeFi lending protocol shuts down after 3 years, citing inactive chains, thin margins, and hacks

CoinDesk

2026-02-23

Nifty Gateway officially closes; withdrawal deadline passes

Gemini Official Blog

2026-04-03

Dmail Network (decentralized email, 5 years of operation) announces phased shutdown beginning May 15, citing infrastructure costs and failed monetization

Frontierbeat

2026-05-15

Dmail Network ceases all services

Phemex News

2026-05-28

Leap Wallet (Cosmos ecosystem) shuts down; multiple other wallets (Family, Ctrl) also cease operations in same period

CoinGabbar

2026-06-28

Loopring (Ethereum zk-rollup DEX, formerly $760M TVL) shuts down all trading and relayer operations; LRC token at approximately $0.01

Cryptonomist

2026-07-01

Polygon zkEVM (backed by $250M Hermez acquisition in 2021) officially shuts down; AscendEX centralized exchange also ceases operations

Crypto Times

2026-07-15

Movement Labs (MOVE token) files Chapter 11 bankruptcy in U.S. Bankruptcy Court, District of Delaware; MOVE token at approximately $0.01, down ~99% from December 2024 high

CoinDesk

2026-07-21

Movement Labs bankruptcy filing publicly confirmed and reported; Chapter 11 petition lists assets $100K–$500K against up to $10M in liabilities

CoinDesk

2026-07-23

BitMEX announces permanent closure effective September 23, 2026; new account registrations halted immediately

CoinDesk

2026-07-26

BitMart announces orderly wind-down

Bitcoin Foundation / RootData

2026-07-29

Blockaid publishes H1 2026 security report: 212 exploits, $1.1–$1.32B in total losses, most-hacked half-year on record