Audit log

Every state-changing event for H1 2026 Crypto Project Shutdown Wave (100+ Projects): moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-08-04 12:28:57Z
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   {"actor":"system:backfill","investigation_id":"806b1308-839e-448e-b7c1-b36060b36e6c","kind":"publish","page_slug":"h1-2026-crypto-project-shutdown-wave-100-projects","published_at":"2026-08-04T12:28:57.771Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"H1 2026 Crypto Project Shutdown Wave (100+ Projects)","sections":[{"content":"Data compiled by crypto research firm RootData identified 99 confirmed project closures from January through late July 2026, with the count projected to exceed 100 by year-end. Independent analyses from Crypto Times, Crypto Briefing, and Cryptopolitan place the confirmed figure at 100–110 projects depending on methodology and snapshot date. A separate count by Bitcoin.com News documented over 60 closures by mid-2026, noting that 62 of the shuttered projects had collectively raised more than $200 million in venture capital before ceasing operations. The Cryptopolitan report describes the wave as surpassing 2022 in raw closure volume, though without the ecosystem-wide contagion of FTX or Terra/LUNA. By sector, DeFi protocols comprised more than 50% of closures, followed by self-custody wallets, centralized exchanges, Layer-2 and Layer-1 networks, NFT platforms, and analytics and infrastructure tools.","heading":"Scale and Scope","severity":"high","sources":[{"credibility":2,"name":"RootData 2026 Crypto Project Closures: 99 Projects Have Already Died This Year","type":"news_article","url":"https://bitcoinfoundation.org/news/crypto-companies-news/rootdata-2026-crypto-project-closures-99-projects-have-already-died-this-year/"},{"credibility":2,"name":"From BitMEX to Leap Wallet: 100+ Crypto Projects Have Shut Down in H1 2026 - Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/08/04/from-bitmex-to-leap-wallet-100-crypto-projects-have-shut-down-in-h1-2026/"},{"credibility":2,"name":"101 crypto projects shut down in 2026, DeFi leads losses - Crypto Briefing","type":"news_article","url":"https://cryptobriefing.com/101-crypto-projects-shut-down-2026/"},{"credibility":2,"name":"Over 60 Crypto Firms and Projects Fold in 2026 - Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/featured/over-60-crypto-firms-and-projects-fold-in-2026-as-bankruptcies-bear-market-and-hacks-rip-industry-apart/"},{"credibility":2,"name":"2026 becomes the year of crypto shutdowns as liquidity repositions - Cryptopolitan","type":"news_article","url":"https://www.cryptopolitan.com/2026-year-of-crypto-shutdowns/"}]},{"content":"BitMEX, the derivatives exchange that once commanded approximately 57% of global crypto derivatives volume at its 2019 peak, announced its permanent closure on July 23, 2026, with operations set to cease on September 23, 2026. Founded in 2014, BitMEX's market share had collapsed to approximately 0.08% of perpetual futures volume by early 2026. The announcement came from parent company HDR Global Trading Limited following a strategic review. BitMEX had also faced significant regulatory penalties: its founders pleaded guilty in 2022 to Bank Secrecy Act violations, the company itself pleaded guilty in July 2024, and it was fined $100 million in January 2025. Users who did not withdraw funds before the September 23 deadline face monthly fees of $50 or 1% per year on remaining balances. Movement Labs (creator of the MOVE token) filed for Chapter 11 bankruptcy on July 15, 2026, in U.S. Bankruptcy Court for the District of Delaware, listing assets of $100,001–$500,000 against liabilities reaching $10 million — despite having raised $141.4 million across several rounds including a Series A led by Polychain. The bankruptcy followed a market-making scandal in which an intermediary allowed 66 million MOVE tokens (approximately 5% of supply) to reach secondary markets the day after the token's debut, generating approximately $38 million in selling pressure and driving the MOVE token from an all-time high of $1.21 (December 2024) to approximately $0.01 by July 22, 2026, a decline of roughly 99%. Loopring, an Ethereum-based zk-rollup decentralized exchange, shut down on June 28, 2026, citing weak user adoption, limited business development, and obsolescence relative to newer zkEVM designs. Its total value locked had collapsed from approximately $760 million in November 2021 to roughly $8 million at closure; the LRC token fell from $3.75 to approximately $0.01. Nifty Gateway, the Gemini-owned NFT marketplace that reported $300 million in gross merchandise value during the 2021 NFT peak, entered withdrawal-only mode in January 2026 and closed permanently on February 23, 2026. Polygon zkEVM, Polygon Labs' flagship Layer-2 product backed by a $250 million acquisition of Hermez in 2021, was shut down on July 1, 2026 after failing to achieve meaningful adoption relative to rival zk-rollups such as zkSync and Starknet, and after operating at an annual financial loss exceeding $1 million. ZeroLend, a decentralized lending protocol, shut down in mid-February 2026 after three years of operations, citing thin margins, declining liquidity, inactive chains, and rising security threats. Dmail Network, a decentralized email platform, announced a phased shutdown beginning May 15, 2026, attributing its closure to unsustainable infrastructure costs and failure to achieve product-market fit in paid monetization. AscendEX, a centralized exchange, ceased operations on July 1, 2026 amid volume and market-share erosion to larger competitors. BitMart announced an orderly wind-down on July 26, 2026. Leap Wallet, a Cosmos-ecosystem self-custody wallet, issued its sunset notice with a final date of May 28, 2026, citing an inability to sustain multi-chain support across a fragmented ecosystem. Other closures confirmed during H1 2026 include: Goldfinch (DeFi credit protocol), Stream Finance, Rage Trade, Ionic, Zapper (DeFi portfolio analytics, seven years of operation), Family Wallet, Ctrl Wallet, Parsec, and Foundation NFT marketplace.","heading":"Notable Individual Project Closures","severity":"high","sources":[{"credibility":1,"name":"BitMEX Exchange Announces Shutdown, Ending 11-Year Run - CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/07/23/bitmex-s-11-year-run-comes-to-an-end-notifies-users-it-is-ending-operations-in-by-sept-23"},{"credibility":1,"name":"BitMEX Exchange Closure Announcement - BitMEX Official Blog","type":"official","url":"https://www.bitmex.com/blog/bitmex-closure"},{"credibility":1,"name":"Movement Labs Files for Chapter 11 - CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2026/07/21/movement-labs-files-for-chapter-11-months-after-token-scandal-and-strategic-overhaul"},{"credibility":2,"name":"Movement Labs Bankruptcy: How a $141.4M Bet Ended in Collapse - CoinGabbar","type":"news_article","url":"https://www.coingabbar.com/en/crypto-currency-news/movement-labs-bankruptcy-how-a-1414m-bet-ended-in-collapse"},{"credibility":2,"name":"Movement Labs Files for Chapter 11 Bankruptcy After MOVE Token Controversy - Crypto Briefing","type":"news_article","url":"https://cryptobriefing.com/movement-labs-files-for-chapter-11-bankruptcy-after-turbulent-year/"},{"credibility":2,"name":"Loopring zk Rollup Shutdown Ends Ethereum Scaling Experiment - Cryptonomist","type":"news_article","url":"https://en.cryptonomist.ch/2026/06/29/loopring-zk-rollup-shutdown/"},{"credibility":1,"name":"Nifty Gateway to Shut Down in February 2026 - CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/nifty-gateway-shutdown-nft-marketplace-closure-2026"},{"credibility":1,"name":"Announcing Nifty Gateway's Closure - Gemini Official Blog","type":"official","url":"https://www.gemini.com/blog/announcing-nifty-gateways-closure"},{"credibility":1,"name":"One of the oldest NFT trading platforms which facilitated over $300M in sales at its peak shuts down - CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2026/01/24/one-of-the-oldest-nft-trading-platform-which-facilitated-over-usd300-million-in-sales-at-its-peak-shuts-down"},{"credibility":2,"name":"Polygon Shuts Down Its Once-Flagship $250M zkEVM on July 1 - Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/07/01/polygon-shuts-down-its-once-flagship-250m-zkevm-on-july-1/"},{"credibility":1,"name":"DeFi protocol ZeroLend shuts down after 3 years, citing inactive chains and hacks - CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/02/17/defi-protocol-zerolend-shuts-down-after-3-years-citing-inactive-chains-and-hacks"},{"credibility":2,"name":"Dmail Network to Shut Down Services Starting May 15 - Phemex News","type":"news_article","url":"https://phemex.com/news/article/dmail-network-to-cease-operations-starting-may-15-70689"},{"credibility":2,"name":"Dmail, Leap, Intergaze, ZeroLend Announce Shutdown - CoinGabbar","type":"news_article","url":"https://www.coingabbar.com/en/crypto-currency-news/dmail-network-leap-wallet-intergaze-zerolend-shutdown-plan"}]},{"content":"Analysts and news sources consistently distinguish the 2026 shutdown wave from prior cycles dominated by fraud. The majority of 2026 closures were characterized as orderly wind-downs: teams published final balances, established withdrawal grace periods, and provided user communications. A subset involved formal bankruptcy proceedings (Movement Labs, Chapter 11 in Delaware). A smaller group involved hack-triggered insolvency where security exploits accelerated treasury depletion (ZeroLend, SecondFi App). Competitive displacement drove centralized exchange closures (BitMEX, AscendEX, BitMart). Technological obsolescence drove several Layer-2 closures (Loopring, Polygon zkEVM). Market-demand collapse drove NFT platform closures (Nifty Gateway, Foundation). Analysts at Cryptopolitan and Crypto Times note there is no equivalent to the Terra/LUNA or FTX events from the 2022 cycle: no dominant fraud narrative, no single entity responsible for contagion, and no class-action litigation of comparable scale. Separately tracked rug-pull and fraud statistics for H1 2026 report approximately $500 million lost to fraud across all categories, with rug pulls constituting roughly 35% of crypto scam losses — a distinct and smaller-scale category from the structural shutdown wave.","heading":"Exit Typology: Fraud vs. Structural Failure","severity":"medium","sources":[{"credibility":2,"name":"2026 becomes the year of crypto shutdowns as liquidity repositions - Cryptopolitan","type":"news_article","url":"https://www.cryptopolitan.com/2026-year-of-crypto-shutdowns/"},{"credibility":2,"name":"From BitMEX to Leap Wallet: 100+ Crypto Projects Have Shut Down in H1 2026 - Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/08/04/from-bitmex-to-leap-wallet-100-crypto-projects-have-shut-down-in-h1-2026/"},{"credibility":2,"name":"Crypto Scam & Fraud Statistics 2026 - NFT Plazas","type":"research","url":"https://nftplazas.com/crypto-scam-fraud-statistics-2026/"}]},{"content":"The H1 2026 shutdown wave coincided with a record-breaking period for crypto security incidents. On-chain security firm Blockaid reported that H1 2026 was the most heavily hacked six-month period in crypto history, with 212 verified security breaches causing over $1.1 billion in total losses. The Block and additional reporting place the figure at $1.32 billion across the half-year period. Four incidents accounted for approximately 64% of total losses: the KelpDAO exploit ($292 million), the Drift Protocol exploit ($285 million), and two additional events at Resolv and CowSwap. Lazarus Group (North Korea-linked state-sponsored hackers) was attributed with approximately 55% of total H1 2026 losses. Cross-chain bridges, EVM Layer-2 exploits, and compromised private keys were identified as the leading attack vectors. While most hacked projects were not immediately shut down as a result, smaller protocols with exploited treasuries — including ZeroLend and SecondFi App — did cease operations following security incidents. The Drift Protocol hack ($285 million) was among the largest individual events of the period.","heading":"Security Exploits as an Accelerating Factor","severity":"critical","sources":[{"credibility":1,"name":"Crypto hacks hit record high in H1 2026 as losses top $1 billion, Blockaid says - The Block","type":"research","url":"https://www.theblock.co/post/409944/crypto-hacks-hit-record-high-in-h1-2026-as-losses-top-1-billion-blockaid-says"},{"credibility":2,"name":"Crypto Hacks Total $1.32B in First Half of 2026 - Bitcoin Foundation","type":"news_article","url":"https://bitcoinfoundation.org/news/crimes-and-fraud-news/crypto-hacks-h1/"},{"credibility":2,"name":"Crypto records most hacked half-year ever with 212 exploits and $1.1 billion stolen - Crypto Briefing","type":"news_article","url":"https://cryptobriefing.com/crypto-most-hacked-half-year-1b-stolen/"},{"credibility":2,"name":"Crypto Hacks Cross $1.1B in Record H1 2026 Losses: Blockaid - Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/07/29/crypto-hacks-cross-1-1b-in-record-h1-2026-losses-blockaid/"}]},{"content":"Multiple analyses identify a convergent set of structural causes underlying the 2026 shutdown wave. Venture capital formation collapsed: only eight new crypto-focused VC funds launched in Q1 2026, raising approximately $1.1 billion — the fewest new funds since Q3 2020. Total crypto startup fundraising fell to an estimated $4 billion in Q1 2026, a 50% drop from the prior quarter. Projects financed at 2021–2022 or 2024–2025 peak valuations exhausted their capital reserves as token prices declined; Bitcoin fell approximately 23–50% from its October 2025 peak of approximately $126,000. Token-denominated treasuries — where teams paid salaries and operational costs in appreciating project tokens — collapsed as secondary market liquidity evaporated, compressing multi-year runways to months. The industry-wide shift away from yield-farming and liquidity-mining token incentives toward fee-based revenue models left mid-tier projects that could not generate sufficient fee volume without a viable business model. RootData analysis cited declining on-chain activity, selective VC deployment to projects with demonstrated traction, failed token monetization, and MiCA compliance costs in Europe as reinforcing factors. The Cryptopolitan analysis notes a 'winner-take-most' dynamic in which Binance held approximately 33% and OKX approximately 15% of centralized perpetual futures volume, leaving insufficient market share for smaller competitors to sustain operations.","heading":"Structural Causes: Funding Wall and Token Model Collapse","severity":"high","sources":[{"credibility":2,"name":"Crypto VC Funding Hits $4B in Q1 2026, Fewest New Funds Since 2020 - The Currency Analytics","type":"research","url":"https://thecurrencyanalytics.com/technology/crypto-vc-funding-hits-4b-in-q1-2026-fewest-new-funds-since-2020-262002"},{"credibility":2,"name":"The Age of Control: Crypto Venture Capital in H1 2026 - CoinGecko","type":"research","url":"https://www.coingecko.com/learn/crypto-vc-funding-h1-2026"},{"credibility":2,"name":"Why 70+ Crypto Projects Shut Down in 2026 - CoinPedia","type":"news_article","url":"https://coinpedia.org/news/why-70-crypto-projects-shut-down-in-2026"},{"credibility":2,"name":"70 Crypto Projects Shut Down In 2026 As Funding Wall Hits DeFi, NFTs And Layer 2s - FinanceFeeds","type":"news_article","url":"https://financefeeds.com/70-crypto-projects-shut-down-in-2026-as-funding-wall-hits-defi-nfts-and-layer-2s/"},{"credibility":2,"name":"RootData 2026 Crypto Project Closures - Bitcoin Foundation","type":"news_article","url":"https://bitcoinfoundation.org/news/crypto-companies-news/rootdata-2026-crypto-project-closures-99-projects-have-already-died-this-year/"}]},{"content":"A distinct sub-category of the 2026 shutdown wave involved first-generation protocols rendered obsolete by newer technical designs rather than pure funding exhaustion. Loopring's closure exemplifies this pattern: as one of the earliest Ethereum zk-rollup DEXs, it was displaced by newer zkEVM architectures from Starknet, zkSync, and Polygon's own successor systems. Polygon zkEVM's closure similarly reflected its inability to compete with rival rollups despite a $250 million capital investment in the underlying Hermez technology. In the centralized exchange sector, BitMEX's trajectory illustrates competitive displacement over time: its market share fell from approximately 57% in 2019 to 0.08% by early 2026, driven by the rise of Binance, OKX, Bybit, and decentralized perpetual venues. Wallet consolidation followed a similar logic, with Leap Wallet unable to maintain support across the fragmented Cosmos multi-chain ecosystem. NFT platform closures (Nifty Gateway, Foundation) reflected sustained demand collapse in the NFT sector since the 2022 peak, with no recovery in transaction volumes.","heading":"Technological Obsolescence and Competitive Displacement","severity":"medium","sources":[{"credibility":2,"name":"Loopring zk Rollup Shutdown Ends Ethereum Scaling Experiment - Cryptonomist","type":"news_article","url":"https://en.cryptonomist.ch/2026/06/29/loopring-zk-rollup-shutdown/"},{"credibility":2,"name":"Polygon Spent $250M on Its zkEVM Pivot — Now It's Abandoned - CCN","type":"news_article","url":"https://www.ccn.com/news/crypto/polygon-spent-250m-zk-pivot-abandoned-project-burning-millions/"},{"credibility":2,"name":"Polygon Shuts Down Its Once-Flagship $250M zkEVM on July 1 - Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/07/01/polygon-shuts-down-its-once-flagship-250m-zkevm-on-july-1/"},{"credibility":2,"name":"BitMEX to shut down after 11-year run that reshaped crypto derivatives trading - Crypto Briefing","type":"news_article","url":"https://cryptobriefing.com/bitmex-shutdown-operations-cease/"}]},{"content":"Analysts draw a consistent distinction between the 2026 wave and previous major downturns. The 2018 downturn involved thousands of ICO project failures, many of which involved fraudulent or negligent token offerings with minimal product development. The 2022 bear market saw the algorithmic stablecoin collapse of Terra/LUNA (approximately $40 billion in value destroyed), the bankruptcy and alleged fraud of FTX and Alameda Research (approximately $8 billion in customer funds allegedly misappropriated), and the contagion-driven collapses of Celsius, Voyager, BlockFi, and Three Arrows Capital. By contrast, the 2026 wave has been described by Cryptopolitan, Crypto Times, and Crypto Briefing as a consolidation event rather than a fraud event: projects are winding down in an orderly fashion, no single failure has triggered systemic contagion, and law enforcement actions comparable in scale to the FTX prosecution have not accompanied the wave. The 2026 cycle also features nascent distressed-debt markets for failed project claims, a structural development absent from prior cycles. The Cryptopolitan analysis suggests the 2026 wave may represent a market trough, eliminating speculative excess while leaving established infrastructure intact.","heading":"Comparison to Prior Cycles (2018 and 2022)","severity":"medium","sources":[{"credibility":2,"name":"2026 becomes the year of crypto shutdowns as liquidity repositions - Cryptopolitan","type":"news_article","url":"https://www.cryptopolitan.com/2026-year-of-crypto-shutdowns/"},{"credibility":2,"name":"The Collapse of 60 Crypto Projects in 2026 - Crypto Economy","type":"news_article","url":"https://crypto-economy.com/the-collapse-of-60-crypto-projects-in-2026/"},{"credibility":2,"name":"Over 20 Crypto Projects Are Shutting Down in the First Half of 2026 - CryptoAdventure","type":"news_article","url":"https://cryptoadventure.com/over-20-crypto-projects-are-shutting-down-in-the-first-half-of-2026/"}]},{"content":"The shutdown wave presents concrete asset-recovery risks for users of affected platforms. BitMEX users who do not withdraw by September 23, 2026 face ongoing monthly fees of $50 or 1% per year on account balances. BitMEX's new position-reduction-only mode took effect August 26, 2026. Multiple wallet closures (Family, Ctrl, Leap) involved app-store removals without comprehensive key-export tooling, leaving users who failed to export private keys prior to delisting without recovery mechanisms. Nifty Gateway users had a withdrawal window through February 23, 2026 to retrieve assets via linked Gemini accounts or Stripe. Users with funds on AscendEX (closed July 1, 2026) or BitMart (wind-down announced July 26, 2026) should verify withdrawal status. The Movement Labs Chapter 11 bankruptcy means MVMT Labs creditors must file claims through formal bankruptcy proceedings in the District of Delaware; MOVE token holders are not creditors and have no claims through the bankruptcy. Users should treat security exploits above approximately 10% of a mid-cap protocol's total value locked as a potential terminal signal requiring prompt withdrawal of remaining assets.","heading":"User Risk and Asset Recovery Guidance","severity":"high","sources":[{"credibility":2,"name":"BitMEX Is Shutting Down: What Users Need to Do First - BTCC","type":"news_article","url":"https://www.btcc.com/en-US/academy/crypto-platform/comparison/bitmex-is-shutting-down-what-users-need-to-do-first"},{"credibility":1,"name":"BitMEX Exchange Closure Announcement - BitMEX Official Blog","type":"official","url":"https://www.bitmex.com/blog/bitmex-closure"},{"credibility":1,"name":"Announcing Nifty Gateway's Closure - Gemini Official Blog","type":"official","url":"https://www.gemini.com/blog/announcing-nifty-gateways-closure"},{"credibility":1,"name":"Movement Labs Files for Chapter 11 - CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2026/07/21/movement-labs-files-for-chapter-11-months-after-token-scandal-and-strategic-overhaul"}]}],"sources_used":[{"credibility":2,"name":"From BitMEX to Leap Wallet: 100+ Crypto Projects Have Shut Down in H1 2026 - Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/08/04/from-bitmex-to-leap-wallet-100-crypto-projects-have-shut-down-in-h1-2026/"},{"credibility":2,"name":"101 crypto projects shut down in 2026, DeFi leads losses - Crypto Briefing","type":"news_article","url":"https://cryptobriefing.com/101-crypto-projects-shut-down-2026/"},{"credibility":2,"name":"RootData 2026 Crypto Project Closures: 99 Projects Have Already Died This Year - Bitcoin Foundation","type":"news_article","url":"https://bitcoinfoundation.org/news/crypto-companies-news/rootdata-2026-crypto-project-closures-99-projects-have-already-died-this-year/"},{"credibility":2,"name":"Over 60 Crypto Firms and Projects Fold in 2026 - Bitcoin.com News","type":"news_article","url":"https://news.bitcoin.com/featured/over-60-crypto-firms-and-projects-fold-in-2026-as-bankruptcies-bear-market-and-hacks-rip-industry-apart/"},{"credibility":2,"name":"2026 becomes the year of crypto shutdowns as liquidity repositions - Cryptopolitan","type":"news_article","url":"https://www.cryptopolitan.com/2026-year-of-crypto-shutdowns/"},{"credibility":1,"name":"BitMEX Exchange Closure Announcement - BitMEX Official Blog","type":"official","url":"https://www.bitmex.com/blog/bitmex-closure"},{"credibility":1,"name":"BitMEX Shutdown: 11-Year Run Ends - CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/07/23/bitmex-s-11-year-run-comes-to-an-end-notifies-users-it-is-ending-operations-in-by-sept-23"},{"credibility":2,"name":"BitMEX to shut down after 11-year run - Crypto Briefing","type":"news_article","url":"https://cryptobriefing.com/bitmex-shutdown-operations-cease/"},{"credibility":1,"name":"Movement Labs Files for Chapter 11 - CoinDesk","type":"news_article","url":"https://www.coindesk.com/policy/2026/07/21/movement-labs-files-for-chapter-11-months-after-token-scandal-and-strategic-overhaul"},{"credibility":2,"name":"Movement Labs Files Chapter 11 Bankruptcy After MOVE Token Controversy - Crypto Briefing","type":"news_article","url":"https://cryptobriefing.com/movement-labs-files-for-chapter-11-bankruptcy-after-turbulent-year/"},{"credibility":2,"name":"Movement Labs Bankruptcy: How a $141.4M Bet Ended in Collapse - CoinGabbar","type":"news_article","url":"https://www.coingabbar.com/en/crypto-currency-news/movement-labs-bankruptcy-how-a-1414m-bet-ended-in-collapse"},{"credibility":1,"name":"Nifty Gateway to Shut Down in February 2026 - CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/nifty-gateway-shutdown-nft-marketplace-closure-2026"},{"credibility":1,"name":"Announcing Nifty Gateway's Closure - Gemini Official Blog","type":"official","url":"https://www.gemini.com/blog/announcing-nifty-gateways-closure"},{"credibility":1,"name":"Nifty Gateway Shuts Down - CoinDesk","type":"news_article","url":"https://www.coindesk.com/business/2026/01/24/one-of-the-oldest-nft-trading-platform-which-facilitated-over-usd300-million-in-sales-at-its-peak-shuts-down"},{"credibility":1,"name":"DeFi protocol ZeroLend shuts down after 3 years - CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/02/17/defi-protocol-zerolend-shuts-down-after-3-years-citing-inactive-chains-and-hacks"},{"credibility":2,"name":"Loopring zk Rollup Shutdown Ends Ethereum Scaling Experiment - Cryptonomist","type":"news_article","url":"https://en.cryptonomist.ch/2026/06/29/loopring-zk-rollup-shutdown/"},{"credibility":2,"name":"Polygon Shuts Down Its Once-Flagship $250M zkEVM on July 1 - Crypto Times","type":"news_article","url":"https://www.cryptotimes.io/2026/07/01/polygon-shuts-down-its-once-flagship-250m-zkevm-on-july-1/"},{"credibility":2,"name":"Polygon Spent $250M on Its zkEVM Pivot — Now It's Abandoned - CCN","type":"news_article","url":"https://www.ccn.com/news/crypto/polygon-spent-250m-zk-pivot-abandoned-project-burning-millions/"},{"credibility":2,"name":"Dmail Network to Shut Down Services Starting May 15 - Phemex News","type":"news_article","url":"https://phemex.com/news/article/dmail-network-to-cease-operations-starting-may-15-70689"},{"credibility":2,"name":"Dmail, Leap, Intergaze, ZeroLend Announce Shutdown - CoinGabbar","type":"news_article","url":"https://www.coingabbar.com/en/crypto-currency-news/dmail-network-leap-wallet-intergaze-zerolend-shutdown-plan"},{"credibility":1,"name":"Crypto hacks hit record high in H1 2026 as losses top $1 billion, Blockaid says - The Block","type":"research","url":"https://www.theblock.co/post/409944/crypto-hacks-hit-record-high-in-h1-2026-as-losses-top-1-billion-blockaid-says"},{"credibility":2,"name":"Crypto Hacks Total $1.32B in First Half of 2026 - Bitcoin Foundation","type":"news_article","url":"https://bitcoinfoundation.org/news/crimes-and-fraud-news/crypto-hacks-h1/"},{"credibility":2,"name":"Crypto records most hacked half-year ever - Crypto Briefing","type":"news_article","url":"https://cryptobriefing.com/crypto-most-hacked-half-year-1b-stolen/"},{"credibility":2,"name":"Crypto VC Funding Hits $4B in Q1 2026, Fewest New Funds Since 2020 - The Currency Analytics","type":"research","url":"https://thecurrencyanalytics.com/technology/crypto-vc-funding-hits-4b-in-q1-2026-fewest-new-funds-since-2020-262002"},{"credibility":2,"name":"The Age of Control: Crypto Venture Capital in H1 2026 - CoinGecko","type":"research","url":"https://www.coingecko.com/learn/crypto-vc-funding-h1-2026"},{"credibility":2,"name":"70 Crypto Projects Shut Down In 2026 As Funding Wall Hits DeFi, NFTs And Layer 2s - FinanceFeeds","type":"news_article","url":"https://financefeeds.com/70-crypto-projects-shut-down-in-2026-as-funding-wall-hits-defi-nfts-and-layer-2s/"},{"credibility":2,"name":"Over 20 Crypto Projects Shut Down in Q1 2026 - CoinPedia / TradingView","type":"news_article","url":"https://coinpedia.org/news/over-20-crypto-projects-shut-down-in-q1-2026/"},{"credibility":2,"name":"Nearly 100 crypto projects shut down amid 2026 market crisis - Logos Press","type":"news_article","url":"https://logos-pres.md/en/news/nearly-100-crypto-projects-have-ceased-operations-which-ones-exited-the-market-in-2026/"}],"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.","timeline":[{"date":"2026-01-24","event":"Nifty Gateway (Gemini-owned NFT marketplace, $300M peak GMV) announces closure; platform enters withdrawal-only mode","source":"CoinDesk","source_url":"https://www.coindesk.com/business/2026/01/24/one-of-the-oldest-nft-trading-platform-which-facilitated-over-usd300-million-in-sales-at-its-peak-shuts-down"},{"date":"2026-02-17","event":"ZeroLend DeFi lending protocol shuts down after 3 years, citing inactive chains, thin margins, and hacks","source":"CoinDesk","source_url":"https://www.coindesk.com/markets/2026/02/17/defi-protocol-zerolend-shuts-down-after-3-years-citing-inactive-chains-and-hacks"},{"date":"2026-02-23","event":"Nifty Gateway officially closes; withdrawal deadline passes","source":"Gemini Official Blog","source_url":"https://www.gemini.com/blog/announcing-nifty-gateways-closure"},{"date":"2026-04-03","event":"Dmail Network (decentralized email, 5 years of operation) announces phased shutdown beginning May 15, citing infrastructure costs and failed monetization","source":"Frontierbeat","source_url":"https://frontierbeat.com/2026/04/03/dmail-network-shutdown-decentralized-email-failed-2026/"},{"date":"2026-05-15","event":"Dmail Network ceases all services","source":"Phemex News","source_url":"https://phemex.com/news/article/dmail-network-to-cease-operations-starting-may-15-70689"},{"date":"2026-05-28","event":"Leap Wallet (Cosmos ecosystem) shuts down; multiple other wallets (Family, Ctrl) also cease operations in same period","source":"CoinGabbar","source_url":"https://www.coingabbar.com/en/crypto-currency-news/dmail-network-leap-wallet-intergaze-zerolend-shutdown-plan"},{"date":"2026-06-28","event":"Loopring (Ethereum zk-rollup DEX, formerly $760M TVL) shuts down all trading and relayer operations; LRC token at approximately $0.01","source":"Cryptonomist","source_url":"https://en.cryptonomist.ch/2026/06/29/loopring-zk-rollup-shutdown/"},{"date":"2026-07-01","event":"Polygon zkEVM (backed by $250M Hermez acquisition in 2021) officially shuts down; AscendEX centralized exchange also ceases operations","source":"Crypto Times","source_url":"https://www.cryptotimes.io/2026/07/01/polygon-shuts-down-its-once-flagship-250m-zkevm-on-july-1/"},{"date":"2026-07-15","event":"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","source":"CoinDesk","source_url":"https://www.coindesk.com/policy/2026/07/21/movement-labs-files-for-chapter-11-months-after-token-scandal-and-strategic-overhaul"},{"date":"2026-07-21","event":"Movement Labs bankruptcy filing publicly confirmed and reported; Chapter 11 petition lists assets $100K–$500K against up to $10M in liabilities","source":"CoinDesk","source_url":"https://www.coindesk.com/policy/2026/07/21/movement-labs-files-for-chapter-11-months-after-token-scandal-and-strategic-overhaul"},{"date":"2026-07-23","event":"BitMEX announces permanent closure effective September 23, 2026; new account registrations halted immediately","source":"CoinDesk","source_url":"https://www.coindesk.com/markets/2026/07/23/bitmex-s-11-year-run-comes-to-an-end-notifies-users-it-is-ending-operations-in-by-sept-23"},{"date":"2026-07-26","event":"BitMart announces orderly wind-down","source":"Bitcoin Foundation / RootData","source_url":"https://bitcoinfoundation.org/news/crypto-companies-news/rootdata-2026-crypto-project-closures-99-projects-have-already-died-this-year/"},{"date":"2026-07-29","event":"Blockaid publishes H1 2026 security report: 212 exploits, $1.1–$1.32B in total losses, most-hacked half-year on record","source":"The Block","source_url":"https://www.theblock.co/post/409944/crypto-hacks-hit-record-high-in-h1-2026-as-losses-top-1-billion-blockaid-says"},{"date":"2026-08-04","event":"Crypto Times publishes comprehensive list: 100+ confirmed crypto project shutdowns in H1 2026 from BitMEX to Leap Wallet","source":"Crypto Times","source_url":"https://www.cryptotimes.io/2026/08/04/from-bitmex-to-leap-wallet-100-crypto-projects-have-shut-down-in-h1-2026/"},{"date":"2026-09-23","event":"BitMEX final closure date; users failing to withdraw by this date face ongoing asset fees","source":"BitMEX Official Blog","source_url":"https://www.bitmex.com/blog/bitmex-closure"}]},"v":1}

   Verify offline (run on your own machine)

   python -m src.verify_decision b8808342-8b06-43c8-8607-fdf53f8acd56copy