Zapper, one of decentralized finance’s earliest and most recognizable portfolio dashboards, is shutting down for good. Co-founder and CEO Seb Audet announced on X that the platform will wind down completely on August 3, closing its website, mobile apps, and API services after nearly seven years in the market.
An Orderly Exit After Years of Building
Audet said the team weighed several paths forward before settling on a controlled shutdown rather than a last-minute scramble. “After close to 7 years building Zapper, I regret to announce that Zapper will be winding down. 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,” Audet wrote.
He didn’t offer a detailed breakdown of the internal factors behind the decision, but in a follow-up reply to a user, he pointed to softening demand as the underlying driver, stating simply that “at the end of the day, the market decides.”
Audet also used the announcement to advocate for his team, describing the group as one that had scaled a serious product with deep technical expertise. “This is a team that scaled a product to millions of users and $13B in transaction volume, with deep onchain engineering expertise alongside ops people who know how to build and run things at scale,” he said, effectively opening the door for other companies to recruit Zapper’s engineers and operations staff.
Zapper CEO Announces Orderly Wind Down After 7-Years
From Hackathon Win to DeFi Summer Staple
Zapper’s origin traces back to 2019, when the project built early momentum by winning a DeFi hackathon hosted by Kyber, a result that helped it raise a $1.5 million seed round shortly after. The platform was formally founded in 2020 by Seb Audet and Suhail Gangji, built as a remote-first startup during the COVID-19 pandemic — timing that placed it right at the center of the 2020 “DeFi Summer” boom, when users needed a simpler way to track fast-moving positions across multiple protocols.
That momentum carried into 2021, when Zapper closed a $15 million Series A led by Framework Ventures, with backing from Mark Cuban, Coinbase Ventures, and Ashton Kutcher’s Sound Ventures. Across its funding history, CryptoRank data cited in earlier reporting put Zapper’s total raise at roughly $16.5 million, while more recent figures place the total closer to $16.6 million across six funding rounds.
At its high point, the platform was genuinely significant infrastructure rather than a niche tool: Audet said Zapper served more than 2 million monthly active users and processed over $13 billion in cumulative transaction volume, offering features like token tracking, liquidity pool and yield farm monitoring, and airdrop discovery.
Not Without Setbacks
Zapper’s run wasn’t without turbulence. In April 2025, the platform suffered a social engineering attack in which attackers temporarily hijacked its domain and redirected users to a malicious page containing phishing traps. The company also tried to broaden its scope over time — Zapper V2 repositioned the product as a wider Web3 exploration tool covering NFTs, DAOs, and cross-chain activity, and in 2024 the team floated Zapper Protocol alongside a planned ZAP utility token, an initiative that never reached launch before the shutdown decision was made.
What Happens Next for Users
Because Zapper functioned primarily as a read-only interface rather than a custodian, the shutdown carries limited direct financial risk — the company never held user funds. The practical impact is operational: anyone relying on Zapper for wallet history, portfolio views, tax-related records, or API integrations will need to export their data and migrate to another tool before August 3. Existing API customers are expected to receive transition guidance by email ahead of the cutoff.
Part of a Broader Industry Retreat
Zapper’s closure lands amid a wider contraction across crypto infrastructure. Ctrl Wallet, a multi-chain self-custody wallet, is set to shut down on the same August 3 date, and Moonbeam is entering a wind-down transition period after July 31. Other recent casualties include Cardano analytics provider TapTools, Bitcoin-focused DeFi platform Botanix, Ordinals platform Ord.io, and NFT marketplaces including Nifty Gateway and Rodeo.
The pattern points to a structural issue for consumer-facing DeFi tools: platforms built during a venture-funded growth cycle now need durable revenue models, something that’s difficult for products historically offered for free. Notably, overall crypto venture capital actually rose 57.6% year-over-year to $4.21 billion in the second quarter, but that capital is increasingly concentrated among fewer companies, with deal counts falling in nine of the last ten quarters, according to RootData figures cited in industry reporting.
For now, Zapper’s exit closes the book on one of DeFi’s original consumer-facing success stories — a reminder that even platforms with real usage and blue-chip backing aren’t guaranteed to outlast a prolonged market downturn.
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