2026 is barely into Q2, but the bear market is already forcing many Web3 projects to close or wind down operations.
Several notable shutdowns and notices have surfaced recently.
- Leap Wallet (popular in the Cosmos ecosystem) All products (extension, iOS, and Android) will fully shut down on May 28, 2026.
- Magic Eden Wallet: The multi-chain wallet has been deprecated. Starting April 1, 2026, it entered "export-only" mode. The app will be removed from stores, with full shutdown scheduled for May 1, 2026.
- Dmail AI and Intergaze are also pushing users to quickly export data, especially after high-profile incidents such as the Drift Protocol’s ~$280 million exploit.