Over 100 crypto projects have folded in 2026; BitMEX, BitMart, Movement Labs and Storj Labs among the latest

According to CoinDesk (published August 9, updated August 10, 2026), citing data from analytics firm RootData, more than 100 crypto projects have shut down, filed for bankruptcy or gone permanently dark in 2026, and the pace is accelerating. In a single week in late July, four major firms announced closures or filings within days of each other: BitMEX, BitMart, Movement Labs and Storj Labs. A Polkadot parachain, Moonbeam, also shut down permanently on July 31, stranding assets of users who had not bridged them off the chain in time.

The report says more than $1.1 billion was lost to exploits across crypto protocols in the first half of 2026, coinciding with a 70 to 90 percent drop in altcoin prices, a combination that has drained token-denominated startup treasuries. Ben Fisch, CEO of Espresso Systems, and Marek Olszewski, co-founder of Celo, described the trend as a sign the crypto market is maturing and consolidating after a period of overexpansion in general-purpose layer-2 networks; projects that charge real fees in stablecoins or cash, such as Aave, Hyperliquid and Ether.fi, are among those surviving the shakeout.