Key Takeaways:
Zapper, the DeFi portfolio tracker backed by Mark Cuban, will shut down Aug. 3 after serving 2 million monthly active users at its peak.
"We evaluated a number of different options, pursued some to the fullest extent possible, and came to the realization that an orderly wind down is the best course of action," Seb Audet, co-founder and chief executive officer of Zapper, said in a post on X.
The platform processed more than $13 billion in transactions at its height. Zapper raised a $15 million Series A in May 2021 led by Framework Ventures, with participation from Cuban, Coinbase Ventures and Ashton Kutcher's Sound Ventures. The company was founded in 2019 after winning Kyber's DeFi Hackathon, which helped it secure a $1.5 million seed round. Zapper allowed traders to connect wallets, monitor positions across liquidity pools and yield farms, and track upcoming airdrops.
Zapper's shutdown adds to a growing list of crypto platforms that have closed as venture capital funding has become harder to secure. Cardano-based analytics platform TapTools shut down in June, while Bitcoin-focused DeFi platform Botanix followed a week later, citing weak demand for Bitcoin DeFi. SBI's crypto unit, decentralized email service Dmail, and NFT marketplaces Nifty Gateway and Rodeo have also sunset operations this year amid a broader fall in NFT activity.
The company suffered a social engineering attack in April 2025 that allowed hackers to hijack its domain and redirect users to a phishing page. While crypto VC funding rose 57.6% year-on-year to $4.21 billion in the second quarter, deal count has fallen nine times over the last 10 quarters, according to RootData's VC dashboard, suggesting capital has become far more concentrated among fewer projects. Audet hinted at falling demand as the reason, stating in a response on X: "At the end of the day, the market decides."
This article is for informational purposes only and does not constitute investment advice.
