Leap Wallet exits by May, urging ATOM redelegation while assuring users funds remain accessible via private keys.
A key wallet provider within the Cosmos ecosystem is preparing to shut down operations. Leap Wallet confirmed it will sunset its services in late May, marking the end of a multi-year run across dozens of blockchain networks. The move follows a broader shift in the crypto wallet space, where competition and changing market dynamics continue to reshape user tools. Users have been advised to take early action to avoid disruptions.
Backed by Terraform Labs, Leap Wallet Prepares for Full Shutdown in May
Leap Wallet, a noncustodial solution tied closely to the Cosmos ecosystem, will officially discontinue its software suite by May 28. The shutdown affects its browser extension, mobile apps for iOS and Android, the WebApp interface, the Swapfast exchange platform, and its Cosmos Hub validator.
In a statement shared on X, the team reflected on its journey since launch, noting its expansion across more than 100 chains. Despite the closure, the team maintained confidence in the long-term direction of crypto and interchain development.
Users with delegated ATOM on Leap’s validator must redelegate to another provider to continue earning staking rewards. The team advised acting early due to network unbonding periods that may delay redelegation.
Leap Wallet first launched in 2021 with backing from Terraform Labs, the firm behind TerraUSD. It later secured $3.2 million in seed funding from CoinFund and Pantera Capital in 2022.
Crypto Wallet Shakeup Continues as Leap Ends Services Across 100+ Chains
Early positioning placed Leap alongside major wallets like MetaMask and Phantom, offering Terra users access to staking, trading, and decentralized applications such as Anchor and Mirror.
Following the collapse of the Terra ecosystem in 2022, Leap pivoted to broader support for the Cosmos ecosystem. That shift allowed it to remain relevant as multi-chain activity gained traction.
An FAQ clarified that user funds remain safe despite the shutdown. Noncustodial design means assets stay on-chain and can be accessed using recovery phrases or private keys. Importing these credentials into another wallet restores the same address without requiring transfers.
Leap’s closure adds to a growing list of wallet and infrastructure changes across the crypto industry. While no losses have been reported, the announcement signals continued consolidation within the sector as projects adjust to evolving market conditions.
The post Cosmos’ Leap Wallet Is Shutting Down—Users Urged to Act appeared first on Live Bitcoin News.
