Leap Wallet said it will permanently shut down all products on May 28, 2026, ending a four-year run as one of the Cosmos ecosystem’s most popular non-custodial wallets.
The shutdown affects browser extensions, mobile apps, Compass Wallet, Swapfast, and Leap’s Cosmos Hub validator. Users have roughly eight weeks to export recovery phrases and migrate to alternatives.
Why the Shutdown Matters
Leap launched in 2022 and quickly became a go-to wallet for Cosmos users farming airdrops on chains like Celestia (TIA), Cosmos Hub (ATOM), and Osmosis (OSMO).
The project raised $3.2 million from CoinFund and Pantera Capital and expanded to support over 100 chains, including EVM, Solana, and Sui networks.
It served hundreds of thousands of users globally. The team did not disclose a specific reason for the closure but said the decision followed careful consideration.
They affirmed continued support for crypto’s long-term future.
What Users Should Do Now
Because Leap is non-custodial, all funds remain on the blockchain. Users must export their recovery phrases or private keys before May 28 and import them into wallets like Keplr, MetaMask, Phantom, or Rabby.
No asset transfers are necessary. Addresses and balances carry over automatically.
Users who staked ATOM with Leap’s validator face a more urgent timeline.
The validator will stop earning rewards after shutdown. Redelegation avoids the 21-day unbonding period, which would leave tokens locked without yield.
A Tough Week for Crypto Projects
Leap’s closure arrived during a particularly brutal stretch, as within the same week:
- Dmail shut down
- Yupp AI has discontinued operations
- Magic Eden wallet cease functioning, and
- The $285 million Drift Protocol exploit on Solana.
“While we expect the worst recession in human history and a war that will last not weeks, but months, many more crypto projects will quietly fade away, just like all the meme coins from 2021 no one talks about,” wrote airdrop farmer Brill.
Migration support remains available until the May 28 deadline. Whether other mid-tier crypto projects can survive the current downturn remains an open question as the market continues to thin out.