Leap Wallet will shut down its products by May 28, ending a crypto wallet project that began in the Terra ecosystem and later expanded to Cosmos and other chains. 

The closure affects its browser extension, mobile apps, web app, exchange tool, and validator service.

Leap said on Friday that it plans to sunset its software suite by May 28. The shutdown covers its browser extension, iOS and Android apps, Leap WebApp, Swapfast exchange platform, and Leap Cosmos Hub Validator.

The team said the decision came after building across multiple networks since 2022. In a post on X, it said, “We started Leap in 2022 to redefine what wallet experiences in crypto mean.” It added that the project later grew across “100+ chains.”

Leap also said the move was difficult for the team. It stated, “This decision was not made lightly,” while adding that it still believes in the long-term future of crypto and the interchain ecosystem.

Leap said noncustodial users will still be able to access their assets after the shutdown. The team explained that users can restore the same wallet address through another wallet by using a recovery phrase or private key.

The FAQ said there is no need to move assets to a new address. It explained, “There is no need to withdraw or send your assets to a new address,” because importing the recovery phrase or private key will restore access to the same address.

The team also issued a separate notice for Cosmos users who delegated ATOM to Leap’s validator. It asked them to redelegate to another validator if they want to keep earning staking rewards.

Project began in Terra ecosystem

Leap launched in late 2021 with a $50,000 grant from Terraform Labs, the now-defunct firm behind TerraUSD. In early 2022, the project raised a $3.2 million seed round co-led by CoinFund and Pantera Capital.

At the start, Leap positioned itself as a wallet focused on Terra, with tools for staking LUNA, trading, and connecting with applications such as Anchor and Mirror. It aimed to offer a wallet experience similar to what MetaMask built for Ethereum and Phantom built for Solana.

After the collapse of Terra in 2022, Leap shifted its focus and expanded into the wider Cosmos ecosystem. That move allowed the project to continue as a multi-chain wallet after its original market changed.

The shutdown now closes that chapter for the wallet. While the apps and related services will go offline, users will still retain control of their assets through standard wallet recovery tools supported by other providers.

TLDR:

• Leap Wallet will sunset all products, including extensions and mobile apps, on May 28, 2026, across iOS and Android.
  
• Users can migrate safely using their recovery phrase, as Leap is non-custodial and assets remain on the blockchain at all times.
  
• ATOM delegators staking with Leap’s Cosmos Hub validator must redelegate early due to network unbonding period delays.
  
• After the May 28 deadline, all installed Leap apps will stop functioning, though fund recovery via recovery phrase remains fully possible.

Leap Wallet has officially announced that it will discontinue all its products on May 28, 2026. The crypto wallet provider has been active since 2022, serving users across more than 100 blockchain networks.

The shutdown covers extensions, mobile apps, and several associated services. Users are advised to begin migrating their assets to other supported wallets ahead of the deadline.

All core wallet functions will remain available until that date to allow a smooth transition.

Products Scheduled for Discontinuation After the May Deadline

The shutdown affects a broad range of products tied to the Leap ecosystem. These include Leap Wallet browser extensions and mobile versions on iOS and Android.

Compass Wallet, the Leap WebApp, and the Swapfast service are also on the list. Leap Cosmos Hub Validator and Leap Cosmos Snaps will be discontinued as well.

The team behind Leap shared the news through an official tweet. They noted the wallet was launched to change what crypto wallet experiences could offer users.

Since launch, it expanded to support over 100 chains across multiple ecosystems. The post also reflected the care and responsibility the team felt toward its user base.

In the announcement tweet, the team wrote that the decision to shut down was not made lightly. They added that they continue to believe in the long-term future of the crypto space.

They also extended appreciation to partners and users who supported the product over the years. The message was direct, measured, and absent of any bitterness or blame.

Until May 28, 2026, all listed products will retain their existing core functionality. Users can still view balances, send tokens, and manage their staking positions.

Exporting recovery phrases and private keys will also remain available throughout this period. No core feature will be removed before the official sunset date arrives.

What Users Must Do Before the Shutdown Date

Users holding assets in Leap Wallet are encouraged to move to another wallet provider. The team recommended Keplr, MetaMask, Phantom, and Rabby as compatible alternatives.

Since Leap is a non-custodial wallet, assets are held on the blockchain and not within the app. This means migration does not require any complex transfer of funds between addresses.

Any user with a recovery phrase can import it directly into another supported wallet. That process will restore all addresses and balances automatically across compatible chains.

No manual transfers are necessary for this to work correctly. Starting early reduces the risk of delays or missed steps before the deadline.

Those who delegated ATOM to Leap’s Cosmos Hub validator must also take a separate action. They need to redelegate to another validator to keep earning staking rewards.

Network unbonding periods can stretch over several days, so acting promptly matters. A detailed migration guide with full instructions is available at leapwallet.io.

After May 28, 2026, all Leap products will stop functioning, including already-installed apps. Users who miss the deadline can still recover their funds using their recovery phrase.

Importing it into any compatible wallet will restore full access to holdings. Migration support remains available at support@leapwallet.io until the shutdown date.

Polymarket removed a market tied to the fate of a missing US service member after mounting backlash, saying the listing violated its “integrity standards.”

The controversy erupted after a prediction market appeared asking whether US authorities would confirm the rescue of a pilot reportedly shot down over Iran, with most users (over 60%) betting that they wouldn’t be rescued until Saturday.

US Representative Seth Moulton condemned the market, calling it “disgusting” and expressing concerns over people speculating on the fate of a potentially injured service member. “They could be your neighbor, a friend, a family member. And people are betting on whether or not they’ll be saved,” Moulton wrote.

In response, Polymarket said it had taken the market down immediately, adding that it should not have been listed and that the company is reviewing how it passed internal safeguards. The platform did not provide further detail on what specific rule had been breached.

Related: Polymarket expands into equities and commodities with Pyth price feeds

Polymarket under scrutiny over rules

While Polymarket said it took the market down because it did not meet its integrity standards, the platform did not specify which rule had been violated, prompting further scrutiny from users.

“I’m looking at the “Market Integrity” page, and I checked the TOS, and I don’t see which prohibition is relevant here,” Jack Newsham, a correspondent on Business Insider’s national desk, wrote on X.

As Cointelegraph reported, Polymarket has seen a sharp rise in fees and revenue after expanding its fee model on March 30, with daily fees jumping from about $363,000 to over $1 million and revenue nearing $1 million at its peak. The increase follows broader taker fees across categories like finance, politics and tech, as the platform ramps up monetization.

Related: Crypto VC Paradigm is developing a prediction market terminal: Fortune

Insider trading concerns rise on prediction markets

There have also been growing concerns about insider trading on prediction markets. Last month, it was reported that a group of traders made about $1 million by correctly betting on the timing of US strikes on Iran, with some placing trades just hours before the attacks. The activity, which involved newly created wallets focused almost entirely on strike-related bets, raised insider trading suspicions.

To address these concerns, at least 42 Democratic lawmakers have urged the US Commodity Futures Trading Commission and the Office of Government Ethics to warn federal employees against using non-public information to trade on prediction markets.

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