Fact-check findings

The reviewer could not reconcile the claim with the evidence it cited. This is a lead, not a ruling that the claim is false.

1. #20[disputed][awaiting moderator]in section: Phishing and Social Engineering Risk During Migration

   “According to migration guidance published by Atomic Wallet, users were warned that legitimate Web3 wallets never request seed phrases from users in support contexts, and that AI-generated phishing pages and pixel-perfect fake wallet interfaces were active threats in 2026.”

   reviewerAtomic Wallet's migration guidance warned that legitimate Web3 wallets never request seed phrases in support contexts, and that AI-generated phishing pages and pixel-perfect fake interfaces were active 2026 threatsThe page attributes a specific, detailed security warning to a named source that does not contain it. This is a fabricated-attribution problem, not merely an overstatement.
   Proposed correction (not yet applied)

   Users were widely cautioned, consistent with general crypto-industry security guidance, that legitimate Web3 wallets never request seed phrases from users in support contexts, and that AI-generated phishing pages and pixel-perfect fake wallet interfaces were active threats in 2026.
   citedatomicwallet.io/academy/articles/leap-wa…d-phrase-migrate

No source the reviewer could reach confirms or contradicts the claim.

1. #2[unverifiable][awaiting moderator]in section: Background and History

   “Leap Wallet was founded in November 2021 by Sanjeev Rao, based in Vancouver, British Columbia, Canada.”

   reviewerLeap Wallet is/was based in Vancouver, British Columbia, CanadaNone of the three cited news sources for this section mention a headquarters city at all; I confirmed this directly by fetching them. Third-party aggregators disagree between Vancouver/BC and Singapore, and a 2022 report (Entrackr) described most engineering/marketing staff as India-based. The specific Vancouver claim is unsupported by the page's own citations and not resolvable from credible sources either way.
   citedfinancefeeds.com/leap-wallet-to-shut-dow…terra-ecosystem/crypto.news/terra-born-leap-wallet-exits…arket-by-may-28/www.coindesk.com/business/2022/04/05/ter…ivate-token-sale
2. #4[unverifiable][awaiting moderator]in section: Background and History

   “By mid-2023, the team reported over 300,000 users across its product suite.”

   reviewerBy mid-2023, the team reported over 300,000 users across its product suiteThe 300,000 figure is not present in any of the section's cited sources (verified by fetching each). A 300,000-install count does appear on the Leap Cosmos Wallet Chrome Web Store listing, but it is undated and is a browser-extension install count, not a 'team reported' mid-2023 milestone. No source ties this number to mid-2023.
   citedwww.coindesk.com/business/2022/04/05/ter…ivate-token-salefinancefeeds.com/leap-wallet-to-shut-dow…terra-ecosystem/crypto.news/terra-born-leap-wallet-exits…arket-by-may-28/
3. #21[unverifiable][awaiting moderator]in section: Phishing and Social Engineering Risk During Migration

   “A suspicious domain, leapwallet.lu, appeared in search results claiming to serve as a migration resource under the guise of the official Leap Wallet product; this domain is not affiliated with the official leapwallet.io and should be treated with extreme caution.”

   reviewerA suspicious domain, leapwallet.lu, appeared in search results posing as an official migration resourceNeither cited source mentions leapwallet.lu. Independent search found only keyword-stuffed forum/profile listings referencing the domain, with no Tier 1/2 confirmation it is a phishing or impersonation site. Plausible but unconfirmed.
   citedatomicwallet.io/academy/articles/leap-wa…d-phrase-migratefinance.yahoo.com/markets/crypto/article…s-105929956.html

The claim was accurate when written but events since have overtaken it.

1. #13[stale][awaiting moderator]in section: Shutdown Announcement and Scope

   “The official leapwallet.io domain was converted to a sunset page displaying only farewell messages from the team.”

   reviewerThe official leapwallet.io domain was converted to a sunset page displaying farewell messagesThis is a description of a past state that was accurate as of the archive snapshot but no longer matches the live site; see the separate link_rot findings against the citing URL fields.
   citedwww.leapwallet.io/

A cited source no longer resolves or no longer says what the page attributes to it.

1. #14[link rot][awaiting moderator]in section: Shutdown Announcement and Scope

   “https://www.leapwallet.io/”

   reviewerURL https://www.leapwallet.io/ (cited as the official sunset page) is a live, working sourceThe live leapwallet.io domain no longer resolves to content; the page's own June 2026 Wayback snapshot is a working replacement.
   Proposed correction (not yet applied)

   http://web.archive.org/web/20260610024108/https://www.leapwallet.io/
   citedwww.leapwallet.io/
2. #15[link rot][awaiting moderator]in the timeline

   “https://www.leapwallet.io/”

   reviewerURL https://www.leapwallet.io/ (cited as timeline source for the 2026-05-28 shutdown entry) is a live, working sourceSame dead URL cited again in the timeline; part of the same underlying defect.
   Proposed correction (not yet applied)

   http://web.archive.org/web/20260610024108/https://www.leapwallet.io/
   citedwww.leapwallet.io/
3. #16[link rot][awaiting moderator]in the cited sources

   “https://www.leapwallet.io/”

   reviewerURL https://www.leapwallet.io/ (in sources_used, 'Leap Wallet official sunset page') is a live, working sourceThird occurrence of the same dead URL; recommend promoting the already-stored archive_url to the primary url field for this source entry.
   Proposed correction (not yet applied)

   http://web.archive.org/web/20260610024108/https://www.leapwallet.io/
   citedwww.leapwallet.io/

The cited evidence supports part of the claim but not all of it.

1. #8[partially supported][awaiting moderator]in section: Funding and Investors

   “The proceeds were directed toward engineering, design, product development, and marketing.”

   reviewerProceeds were directed toward engineering, design, product development, and marketingThe cited press release does not list marketing as an intended use of funds; the page adds it without support.
   citedwww.businesswire.com/news/home/202204050…-Pantera-Capital
2. #17[partially supported][awaiting moderator]in section: Absence of Disclosed Reason and Transparency Concerns

   “The Crypto Times, citing RootData data, characterized Leap's closure as part of a 'structural cull' of projects experiencing 'financial exhaustion' and an 'empty treasury,' though this characterization was not confirmed by Leap Wallet itself.”

   reviewerCrypto Times characterized Leap's specific closure (not just the broader wave) as part of a 'structural cull' driven by 'financial exhaustion' and an 'empty treasury'The page attributes general industry-wide characterizations to Leap's case specifically and invents a 'financial exhaustion' phrase not present in the source, while omitting the source's actual stated reason for Leap.
   citedwww.cryptotimes.io/2026/08/04/from-bitme…down-in-h1-2026/

The cited evidence supports the claim as written.

1. #1[confirmed][no action needed]in section: Background and History

   “Leap Wallet was founded in November 2021 by Sanjeev Rao, based in Vancouver, British Columbia, Canada.”

   reviewerLeap Wallet was founded in November 2021 by Sanjeev RaoFounding month/year and founder name are corroborated by multiple independent sources.
   citedfinancefeeds.com/leap-wallet-to-shut-dow…terra-ecosystem/
2. #3[confirmed][no action needed]in section: Background and History

   “The wallet launched initially with a $50,000 grant from Terraform Labs and was designed as a non-custodial browser extension for the Terra blockchain, supporting LUNA staking, NFT trading, and DeFi integrations such as Anchor and Mirror.”

   reviewerLeap launched with a $50,000 grant from Terraform Labs as a Terra-focused browser extensionDirectly confirmed by both cited sources.
   citedfinancefeeds.com/leap-wallet-to-shut-dow…terra-ecosystem/crypto.news/terra-born-leap-wallet-exits…arket-by-may-28/
3. #5[confirmed][no action needed]in section: Background and History

   “At peak, Leap supported more than 100 blockchain networks including Cosmos SDK chains, Ethereum and EVM-compatible networks, Solana, Sui, and Bitcoin.”

   reviewerAt peak, Leap supported more than 100 blockchain networks across multiple ecosystem typesThe 100+ chain figure is directly sourced; the specific ecosystem breakdown is consistent with Leap's documented multi-VM design.
   citedcrypto.news/terra-born-leap-wallet-exits…arket-by-may-28/
4. #6[confirmed][no action needed]in section: Funding and Investors

   “On April 5, 2022, Leap announced a $3.2 million private token sale co-led by CoinFund and Pantera Capital, with additional participation from Arrington Capital, Accel, and Terraform Labs.”

   reviewerOn April 5, 2022, Leap announced a $3.2 million private token sale co-led by CoinFund and Pantera Capital, with participation from Arrington Capital, Accel, and Terraform LabsFully confirmed. The direct Business Wire URL returned HTTP 403 to the fetch tool (likely bot-blocking, not necessarily dead — see link note below), but a mirror of the same release confirms the content.
   citedwww.businesswire.com/news/home/202204050…-Pantera-Capitalwww.coindesk.com/business/2022/04/05/ter…ivate-token-sale
5. #7[confirmed][no action needed]in section: Funding and Investors

   “The round implied a valuation of approximately $40 million based on the private sale allocation described in the project's litepaper.”

   reviewerThe round implied a valuation of approximately $40 millionAccurately hedged as an implied/estimated figure rather than a confirmed valuation, matching the only available source.
   citedwww.coindesk.com/business/2022/04/05/ter…ivate-token-sale
6. #9[confirmed][no action needed]in section: Funding and Investors

   “Terraform Labs — one of the investors — collapsed in May 2022 alongside the Terra blockchain; no information is available on whether this affected Leap's capitalization.”

   reviewerTerraform Labs, an investor in Leap, collapsed in May 2022 alongside the Terra blockchainWell-established fact; the hedge about Leap's own capitalization is appropriately cautious.
7. #10[confirmed][no action needed]in section: Shutdown Announcement and Scope

   “On April 3, 2026, Leap Wallet announced the permanent cessation of all products effective May 28, 2026.”

   reviewerOn April 3, 2026, Leap Wallet announced permanent cessation of all products effective May 28, 2026Confirmed by a Tier 1 source.
   citedwww.theblock.co/post/396325/cosmos-ecosy…is-shutting-downwww.kucoin.com/news/flash/leap-wallet-to…users-to-migrate
8. #11[confirmed][no action needed]in section: Shutdown Announcement and Scope

   “The team's public statement read: 'This decision was not made lightly,' and noted continued belief 'in the long-term future of crypto and the interchain ecosystem.'”

   reviewerLeap's public statement included 'This decision was not made lightly' and belief in 'the long-term future of crypto and the interchain ecosystem'Exact quote confirmed.
   citedwww.theblock.co/post/396325/cosmos-ecosy…is-shutting-down
9. #12[confirmed][no action needed]in section: Shutdown Announcement and Scope

   “with Keplr co-founder Josh Lee writing: 'Huge respect for all you guys have built. Wishing the team the best in their next steps,' and Keystone Wallet writing: 'Nothing but respect for this team. You shipped hard.'”

   reviewerKeplr co-founder Josh Lee and Keystone Wallet posted respectful community reactions to the shutdownConfirmed via the section's own cited Crypto Briefing source; quotes are genuine, truncated but not distorted.
   citedcryptobriefing.com/leap-wallet-cease-ope…n-migrate-users/
10. #18[confirmed][no action needed]in section: Absence of Disclosed Reason and Transparency Concerns

    “crypto startups raised approximately $4 billion in Q1 2026, a reported 50% decline from the prior quarter”

    reviewerCrypto startups raised approximately $4 billion in Q1 2026, a reported 50% decline from the prior quarterConfirmed verbatim in the cited source.
    citedwww.cryptotimes.io/2026/08/04/from-bitme…down-in-h1-2026/
11. #19[confirmed][no action needed]in section: Broader Industry Context: H1 2026 Wallet and Project Closures

    “According to RootData data reported by Crypto Times, over 100 crypto projects shut down in the first half of 2026, with the wave attributed primarily to financial exhaustion rather than fraud.”

    reviewerOver 100 crypto projects shut down in H1 2026 per RootData, wave attributed primarily to financial exhaustion rather than fraudConfirmed.
    citedwww.cryptotimes.io/2026/08/04/from-bitme…down-in-h1-2026/
12. #22[confirmed][no action needed]in section: User Impact and Migration Window

    “Users who staked ATOM with Leap's Cosmos Hub validator faced an additional time-sensitive action: redelegating their stake to another validator before the shutdown to avoid the 21-day ATOM unbonding lockup period, during which staked tokens earn no rewards.”

    reviewerUsers who staked ATOM with Leap's validator needed to redelegate to avoid the 21-day ATOM unbonding lockup periodConfirmed verbatim in substance by the cited source.
    citedfinance.yahoo.com/markets/crypto/article…s-105929956.html
13. #23[confirmed][no action needed]in section: User Impact and Migration Window

    “Users holding MANTRA tokens were directed to use MANTRA Chain's bridge tool for Cosmos-to-EVM transfers.”

    reviewerUsers holding MANTRA tokens were directed to use MANTRA Chain's bridge tool for Cosmos-to-EVM transfersConfirmed; not mentioned in the Yahoo Finance or Crypto Adventure sources also cited for this section, but present in Crypto Briefing, one of the section's cited sources.
    citedcryptobriefing.com/leap-wallet-cease-ope…n-migrate-users/
14. #24[confirmed][no action needed]in section: Broader Industry Context: H1 2026 Wallet and Project Closures

    “Leap Wallet's closure was one of five crypto wallet shutdowns documented in 2026, alongside Spell Wallet, HaHa Wallet, Magic Eden Wallet, and Ctrl Wallet.”

    reviewerLeap's closure was one of five 2026 crypto wallet shutdowns, alongside Spell Wallet, HaHa Wallet, Magic Eden Wallet, and Ctrl WalletList matches the cited source exactly.
    citednulltx.com/haha-wallet-confirms-shutdown…folding-in-2026/
15. #25[confirmed][no action needed]in section: Broader Industry Context: H1 2026 Wallet and Project Closures

    “Concurrent with Leap's closure in the same week were the shutdowns of Dmail, Yupp AI, and Magic Eden Wallet, as well as the $285 million Drift Protocol exploit on Solana.”

    reviewerConcurrent with Leap's closure in the same week were the shutdowns of Dmail, Yupp AI, and Magic Eden Wallet, plus the $285 million Drift Protocol exploitAll four events cluster within roughly the same week in late March/early April 2026; Magic Eden Wallet's export-only mode began slightly earlier (late March per one source) but is still reasonably described as concurrent.