Mark Cuban-backed DeFi dashboard Zapper shutters after 7 years

Decentralized concern (DeFi) analytics level Zapper announced it volition unopen down adjacent month, becoming the latest crypto level to fold amid a marketplace downturn.

In a station to X connected Wednesday, Zapper CEO Seb Audet said Zapper’s website, mobile app and API services would unopen down connected Aug. 3, marking the extremity of a seven-year tally aft receiving backing from the likes of billionaire capitalist Mark Cuban successful 2021.

“We evaluated a fig of antithetic options, pursued immoderate to the fullest grade possible, and came to the realization that an orderly upwind down is the champion people of action,” Audet said.

While Zapper didn’t stock the reasons down its determination to unopen down, Audet hinted in a effect that the shutdown was owed to falling demand, stating: “At the extremity of the day, the marketplace decides.”

Cointelegraph reached retired for remark but didn’t person an contiguous response.

Zapper adds to a increasing database of crypto platforms that person unopen arsenic crypto marketplace sentiment has sunk to adjacent all-time lows and task superior backing has go harder to secure.

Cardano-based analytics level TapTools made a akin decision to unopen down successful June, arsenic did Bitcoin-focused DeFi level Botanix a week later, citing anemic request for Bitcoin DeFi.

SBI’s crypto unit, decentralized email work Dmail, and nonfungible token marketplaces similar Nifty Gateway and Rodeo person besides sunset operations this twelvemonth amid a broader autumn successful NFT activity.

Related: Yield Guild Games cuts 35 staff, shuts crippled steadfast to absorption connected AI

Zapper was founded successful 2019 and enactment itself connected the representation by winning 1 of Kyber's DeFi Hackathon events aboriginal that year, which helped it rise a $1.5 cardinal effect round.

It besides raised $15 cardinal successful a Series A backing circular successful May 2021, led by Framework Ventures, with Cuban, Coinbase Ventures and the Ashton Kutcher-founded Sound Ventures besides contributing.

Crypto traders usage platforms similar Zapper to way token prices, travel DeFi trends and observe caller protocols. Zapper besides allowed traders to link their wallets to show positions, negociate liquidity pools and output farms and larn astir upcoming airdrops.

Audet said the Zapper squad scaled its merchandise to implicit 2 cardinal monthly progressive users and oversaw much than $13 cardinal successful processed transactions astatine its peak.

However, Zapper has experienced large setbacks passim its journey, including successful April 2025, erstwhile it suffered a societal engineering attack. The breach allowed attackers to temporarily hijack the platform's domain and redirect unsuspecting users to a malicious leafage embedded with phishing traps.

Securing VC backing has go a challenge

While crypto VC backing accrued 57.6% year-on-year to $4.21 cardinal successful the 2nd quarter, the dispersed of superior has go acold much concentrated, with the wide woody number having present fallen 9 times implicit the past 10 quarters, according to RootData’s VC dashboard.

Features: From Bitcoin critics to blockchain believers: The 5 biggest crypto backflips