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More than 80 crypto projects shut down in 2026
The cryptocurrency market has faced a major wave of project closures in 2026. According to researcher Stacy Muur, at least 82 projects have shut down since the beginning of the year, including decentralized finance (DeFi) platforms, blockchain infrastructure projects, and Web3 games.
Muur published the list of shuttered projects on X. It includes Balancer, Radiant Capital, Neon EVM, Step Finance, and dozens of other companies and protocols. According to the researcher, she has never witnessed so many closures in such a short period.
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One of the main reasons behind the crisis has been the prolonged downturn in the cryptocurrency market. After reaching an all-time high above $126,000 in October 2025, Bitcoin fell below $60,000 earlier in 2026. This added financial pressure on projects that were already struggling to attract users and generate revenue.
From billion-dollar projects to smaller protocols
One of the most prominent examples was Blast, an Ethereum layer-2 network. In October, the team announced that it would shut down the network, citing the lack of a credible path to economic sustainability. At its peak, users had deposited more than $2 billion worth of assets into Blast.
Other projects ceased operations due to hacking incidents and financial difficulties. Step Finance shut down in February following a major treasury breach. In June, Radiant Capital announced that it would wind down operations after failing to recover from a 2024 exploit.
Coinbase-backed Satori Finance also decided to cease operations. Its management concluded that the project's revenue was insufficient to cover operating expenses.
Hackers remain a major threat to crypto projects
Beyond financial difficulties, hacking attacks remain one of the biggest threats to cryptocurrency projects. Groups linked to North Korea, including Lazarus Group, pose a particularly serious risk. According to Chainalysis, North Korean hackers stole a record $2.02 billion in cryptocurrency in 2025, up 51% from the previous year. The largest incident was the Bybit exchange hack, in which attackers stole approximately $1.5 billion.
Hackers are also increasingly relying not only on software vulnerabilities but also on social engineering, fake job offers, and infiltrating crypto companies through operatives posing as legitimate employees. Such attacks can result in direct financial losses, user departures, declining investor confidence, and even business closures. For smaller projects with limited reserves, a single major hack can prove fatal.
As a reminder, NFT projects have also been shutting down increasingly often in recent years.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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