FTX filed for bankruptcy after a bank run and balance sheet crisis.

FTX founder Sam Bankman-Fried was convicted for fraud-related charges.

Three Arrows Capital suffered major losses from Terra, GBTC, and leveraged trades, eventually entering liquidation.

On January 15, 2026, Pixiland, a pixel strategy game that had struggled for two years within the Ronin ecosystem, made a difficult and painful decision: to indefinitely suspend all Web3 plans and transition to a pure Web2 offline model. This meant the complete cancellation of its token generation event (TGE). Even more heartbreaking for the community was that the wPixi points accumulated by players day and night in hopes of airdrops would never be convertible into real crypto assets.

On February 26, 2026, the highly anticipated fantasy role-playing game GENSO Online regretfully announced that it would shut down all core services, including game servers, GENSO Marketplace, LAND Viewer, and the dedicated MV wallet, on April 30, 2026.

Product entering a "dead state" , cancelled the TGE.

DefiDollar ceased operations in 2021 due to market volatility and the broader collapse of DeFi projects, without any specific hacks or legal disputes.

xDeFi ceased operations in 2021 due to undisclosed reasons, with no public record of hacks, rug pulls, or regulatory actions explaining its collapse.

XMEX failed in 2021 as a crypto derivatives platform with no public details on specific causes like hacks or fraud, leaving its collapse unexplained beyond minimal operational records.

Koinex ceased operations in 2020 due to tightening RBI regulations and crypto uncertainty in India, not hacks or fraud.

DECENT failed and shut down in 2021 due to slow development, intense market competition, and internal team issues.

Spark Pool ceased operations after China's May 2021 ban on cryptocurrency mining forced the pool to shut down by September 2021.

RenrenBit ceased operations in 2021 due to undisclosed reasons, with no public record of hacks, fraud, or regulatory actions explaining its failure.

BiONE ceased operations in 2021 due to regulatory pressure and operational issues without reported user fund losses.

AutoShark Finance ceased operations in 2021 due to smart contract vulnerabilities or liquidity problems on Binance Smart Chain.

evan GmbH ceased operations in 2021 due to undisclosed reasons, with no evidence of hacks, fraud, or regulatory penalties.

LemonSwap ceased operations as an unaudited BSC DeFi farm, likely due to liquidity withdrawal or abandonment, causing user fund losses.

Swamp Finance failed in 2021 due to DeFi market volatility and potential security concerns that caused a sharp TVL decline without major hacks or regulatory actions.

Genesys ceased operations in 2021 on Fantom Opera, likely due to common DeFi risks as the specific failure cause remains unknown.

CoinBene ceased operations in 2021 due to a liquidity crisis and withdrawal freezes, leaving users unable to access funds amid suspected fraud.