Ctrl Wallet Shuts Down Amid Security Incident and Growing Crypto Project Failures

Crypto wallet platform Ctrl announced it will permanently shut down on August 3, 2026. This decision comes after a June security incident that affected a small number of Cardano wallets on the platform.

The shutdown affects all functions except for exporting a recovery phrase, which users can do until August 2. The company is urging users to export their 12- or 24-word recovery phrase or move funds to another wallet or exchange immediately.

This development adds to RootData's count of 79 crypto projects that closed or went dark in 2026. Ctrl did not specify a reason for the shutdown, but the security incident and subsequent platform changes are likely contributing factors.