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Home / Crypto / Tokens / Failed Crypto Projects and What Actually Happened

Failed Crypto Projects and What Actually Happened (2026)

Assets that collapsed, were abandoned, or turned out to be fraud. Recorded so that a search returns what happened rather than promotional material that is still online. 46 of the 929 assets in the directory qualify.

Why this filter matters

Search results for a failed project are frequently dominated by pages written while it was still being promoted. These entries exist so the first thing a person finds is the outcome. Several of them are also the clearest available teaching cases: the mechanisms that destroyed them are still being used today under different names.

MSP Score /100:85+ Excellent70 to 84 Very good55 to 69 Fair<55 Caution

#1

Terra Luna Classic (LUNC)

Failed and defunct · Launched 2019 · Micro cap

⚠ Caution⚠ Project finished✓ Captures revenueVesting complete

ChainTerra Classic

Value captureBuyback burn

SupplyElastic

ControlDAO governed

26

Grade D

#2

Radiant Capital (RDNT)

DeFi · Launched 2022 · Micro cap

⚠ Caution⚠ Project finished✓ Captures revenueCapped supplyVesting complete1 incident

ChainArbitrum and BNB Chain

Value captureFee share

SupplyHard capped

ControlMultisig

26

Grade D

#3

Tornado Cash (TORN)

Failed and defunct · Launched 2020 · Micro cap

⚠ Caution⚠ Project finishedNo revenue captureCapped supplyVesting complete2 incidents

ChainEthereum

Value captureNone

SupplyHard capped

ControlDAO governed

26

Grade D

#4

Fantom (FTM)

Layer 1 · Launched 2019 · Micro cap

⚠ Caution⚠ Project finished✓ Captures revenueCapped supplyVesting complete

ChainFantom

Value captureBuyback burn

SupplyHard capped

ControlDAO governed

26

Grade D

#5

Mirror Protocol (MIR)

Failed and defunct · Launched 2020 · Micro cap

⚠ Caution⚠ Failed project✓ Captures revenueCapped supplyVesting complete2 incidents

ChainTerra Classic

Value captureFee share

SupplyHard capped

ControlDAO governed

26

Grade D

#6

Wonderland (TIME)

Failed and defunct · Launched 2021 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureHigh issuanceVesting complete1 incident

ChainAvalanche

Value captureStaking only

SupplyHigh issuance

ControlDAO governed

26

Grade D

#7

Fei Protocol (TRIBE)

Failed and defunct · Launched 2021 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureCapped supplyVesting complete3 incidents

ChainEthereum

Value captureNone

SupplyHard capped

ControlDAO governed

26

Grade D

#8

Cream Finance (CREAM)

Failed and defunct · Launched 2020 · Micro cap

⚠ Caution⚠ Project finishedNo revenue captureCapped supplyVesting complete1 incident

ChainMulti chain

Value captureNone

SupplyHard capped

ControlDAO governed

26

Grade D

#9

Augur (REP)

Failed and defunct · Launched 2015 · Micro cap

⚠ Caution⚠ Project finished✓ Captures revenueCapped supplyVesting complete

ChainEthereum

Value captureFee share

SupplyHard capped

ControlDAO governed

26

Grade D

#10

Maple Finance MPL (MPL)

Real world assets · Launched 2021 · Micro cap

⚠ Caution⚠ Project finished✓ Captures revenueCapped supplyVesting complete

ChainEthereum

Value captureFee share

SupplyHard capped

ControlDAO governed

26

Grade D

#11

Prisma Finance (PRISMA)

Failed and defunct · Launched 2023 · Micro cap

⚠ Caution⚠ Project finished✓ Captures revenueCapped supplyVesting complete1 incident

ChainEthereum

Value captureFee share

SupplyHard capped

ControlDAO governed

26

Grade D

#12

Raft (RAFT)

Failed and defunct · Launched 2023 · Micro cap

⚠ Caution⚠ Project finished✓ Captures revenueCapped supplyVesting complete1 incident

ChainEthereum

Value captureFee share

SupplyHard capped

ControlDAO governed

26

Grade D

#13

Rally (RLY)

NFT and culture · Launched 2020 · Micro cap

⚠ Caution⚠ Project finishedNo revenue captureCapped supplyVesting complete1 incident

ChainEthereum and Solana

Value captureNone

SupplyHard capped

ControlDAO governed

26

Grade D

#14

Ribbon Finance (RBN)

DeFi · Launched 2021 · Micro cap

⚠ Caution⚠ Project finished✓ Captures revenueCapped supplyVesting complete

ChainEthereum

Value captureFee share

SupplyHard capped

ControlDAO governed

26

Grade D

#15

Rari Capital (RGT)

Failed and defunct · Launched 2020 · Micro cap

⚠ Caution⚠ Project finished✓ Captures revenueCapped supplyVesting complete1 incident

ChainEthereum

Value captureFee share

SupplyHard capped

ControlDAO governed

26

Grade D

#16

Mango Markets (MNGO)

Failed and defunct · Launched 2021 · Micro cap

⚠ Caution⚠ Project finishedNo revenue captureCapped supplyVesting complete2 incidents

ChainSolana

Value captureNone

SupplyHard capped

ControlDAO governed

26

Grade D

#17

Platypus Finance (PTP)

Failed and defunct · Launched 2022 · Micro cap

⚠ Caution⚠ Project finished✓ Captures revenueCapped supplyVesting complete2 incidents

ChainAvalanche

Value captureFee share

SupplyHard capped

ControlDAO governed

26

Grade D

#18

Hundred Finance (HND)

Failed and defunct · Launched 2021 · Micro cap

⚠ Caution⚠ Failed project✓ Captures revenueCapped supplyVesting complete2 incidents

ChainMulti chain

Value captureFee share

SupplyHard capped

ControlDAO governed

26

Grade D

#19

TerraUSD (UST)

Failed and defunct · Launched 2020 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureVesting complete2 incidents

ChainTerra

Value captureNone

SupplyElastic

ControlTeam controlled

25

Grade D

#20

SafeMoon (SFM)

Failed and defunct · Launched 2021 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureCapped supplyVesting complete2 incidents

ChainBNB Chain

Value captureNone

SupplyHard capped

ControlTeam controlled

25

Grade D

#21

FTX Token (FTT)

Failed and defunct · Launched 2019 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureCapped supplyVesting complete2 incidents

ChainEthereum and Solana

Value captureNone

SupplyHard capped

ControlTeam controlled

25

Grade D

#22

Celsius (CEL)

Failed and defunct · Launched 2018 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureCapped supplyVesting complete2 incidents

ChainEthereum

Value captureNone

SupplyHard capped

ControlTeam controlled

25

Grade D

#23

Ren (REN)

Failed and defunct · Launched 2018 · Micro cap

⚠ Caution⚠ Project finished✓ Captures revenueCapped supplyVesting complete1 incident

ChainEthereum

Value captureFee share

SupplyHard capped

ControlTeam controlled

25

Grade D

#24

Friend.tech (FRIEND)

Failed and defunct · Launched 2024 · Micro cap

⚠ Caution⚠ Project finishedNo revenue captureCapped supplyVesting complete1 incident

ChainBase

Value captureNone

SupplyHard capped

ControlImmutable

25

Grade D

#25

Chronos (CHRO)

Failed and defunct · Launched 2023 · Micro cap

⚠ Caution⚠ Project finishedNo revenue captureHigh issuanceVesting complete

ChainArbitrum

Value captureNone

SupplyHigh issuance

ControlTeam controlled

25

Grade D

#26

SALT Lending (SALT)

Failed and defunct · Launched 2017 · Micro cap

⚠ Caution⚠ Project finishedNo revenue captureCapped supplyVesting complete2 incidents

ChainEthereum

Value captureFee discount

SupplyHard capped

ControlTeam controlled

25

Grade D

#27

Substratum (SUB)

Failed and defunct · Launched 2017 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureCapped supplyVesting complete1 incident

ChainEthereum

Value captureNone

SupplyHard capped

ControlTeam controlled

25

Grade D

#28

CasinoCoin (CSC)

Failed and defunct · Launched 2017 · Micro cap

⚠ Caution⚠ Project finishedNo revenue captureCapped supplyVesting complete

ChainXRP Ledger

Value captureNone

SupplyHard capped

ControlTeam controlled

25

Grade D

#29

Multichain (MULTI)

Failed and defunct · Launched 2020 · Micro cap

⚠ Caution⚠ Failed project✓ Captures revenueCapped supplyVesting complete1 incident

ChainMulti chain

Value captureFee share

SupplyHard capped

ControlTeam controlled

25

Grade D

#30

Poly Network (POLY-N)

Failed and defunct · Launched 2020 · Micro cap

⚠ Caution⚠ Project finishedNo revenue captureVesting complete2 incidents

ChainMulti chain

Value captureNone

SupplyUncapped

ControlTeam controlled

25

Grade D

#31

Nomad (NOMAD)

Failed and defunct · Launched 2022 · Micro cap

⚠ Caution⚠ Project finishedNo revenue captureVesting complete1 incident

ChainMulti chain

Value captureNone

SupplyUncapped

ControlTeam controlled

25

Grade D

#32

Qubit Finance (QBT)

Failed and defunct · Launched 2021 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureCapped supplyVesting complete1 incident

ChainBNB Chain

Value captureNone

SupplyHard capped

ControlTeam controlled

25

Grade D

#33

Ankr aBNBc (ABNBC)

Failed and defunct · Launched 2021 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureVesting complete1 incident

ChainBNB Chain

Value captureNone

SupplyElastic

ControlTeam controlled

25

Grade D

#34

Sentiment (SNTM)

DeFi · Launched 2022 · Micro cap

⚠ Caution⚠ Project finished✓ Captures revenueCapped supply1 incident

ChainArbitrum

Value captureFee share

SupplyHard capped

ControlTeam controlled

25

Grade D

#35

Save the Kids (KIDS)

Failed and defunct · Launched 2021 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureCapped supplyVesting complete1 incident

ChainBNB Chain

Value captureNone

SupplyHard capped

ControlTeam controlled

25

Grade D

#36

EthereumMax (EMAX)

Failed and defunct · Launched 2021 · Micro cap

⚠ Caution⚠ Project finishedNo revenue captureCapped supplyVesting complete2 incidents

ChainEthereum

Value captureNone

SupplyHard capped

ControlTeam controlled

25

Grade D

#37

Binance USD (BUSD)

Failed and defunct · Launched 2019 · Micro cap

⚠ Caution⚠ Project finishedNo revenue captureVesting complete1 incident

ChainEthereum and BNB Chain

Value captureNone

SupplyElastic

ControlSingle key

23

Grade D

#38

Hex (HEX)

Failed and defunct · Launched 2019 · Micro cap

⚠ Caution⚠ Project finishedNo revenue captureHigh issuanceVesting complete2 incidents

ChainEthereum and PulseChain

Value captureStaking only

SupplyHigh issuance

ControlSingle key

23

Grade D

#39

OneCoin (ONECOIN)

Failed and defunct · Launched 2014 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureVesting complete2 incidents

ChainNo public blockchain existed

Value captureNone

SupplyUncapped

ControlSingle key

23

Grade D

#40

Resupply (RSUP)

Stablecoins · Launched 2025 · Micro cap

⚠ Caution⚠ Project finished✓ Captures revenueCapped supply1 incident

ChainEthereum

Value captureFee share

SupplyHard capped

ControlMultisig

23

Grade D

#41

Pepe 2.0 (PEPE2)

Failed and defunct · Launched 2023 · Micro cap

⚠ Caution⚠ Project finishedNo revenue captureCapped supplyVesting complete

ChainEthereum

Value captureNone

SupplyHard capped

ControlImmutable

22

Grade D

#42

LIBRA (LIBRA)

Failed and defunct · Launched 2025 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureCapped supplyVesting complete1 incident

ChainSolana

Value captureNone

SupplyHard capped

ControlTeam controlled

22

Grade D

#43

Squid Game Token (SQUID)

Failed and defunct · Launched 2021 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureCapped supplyVesting complete1 incident

ChainBNB Chain

Value captureNone

SupplyHard capped

ControlSingle key

19

Grade D

#44

BitConnect (BCC)

Failed and defunct · Launched 2016 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureVesting complete2 incidents

ChainDiscontinued

Value captureNone

SupplyUncapped

ControlSingle key

19

Grade D

#45

PlusToken (PLUS)

Failed and defunct · Launched 2018 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureVesting complete2 incidents

ChainDiscontinued

Value captureNone

SupplyUncapped

ControlSingle key

19

Grade D

#46

Bald (BALD)

Failed and defunct · Launched 2023 · Micro cap

⚠ Caution⚠ Failed projectNo revenue captureCapped supplyVesting complete1 incident

ChainBase

Value captureNone

SupplyHard capped

ControlSingle key

19

Grade D

Other ways to filter

Crypto Tokens That Actually Pay Revenue to Holders Crypto Tokens With a Heavy Unlock Overhang Crypto With a Hard Capped Supply Crypto Protocols Nobody Can Change Crypto With Dangerously Concentrated Ownership

Browse by sector

Layer 1 (94)Layer 2 and scaling (44)Stablecoins (53)DeFi (147)Staking and restaking (47)Infrastructure (66)AI and compute (50)DePIN (33)Real world assets (47)Gaming and metaverse (61)Memecoins (157)Privacy (17)Exchange tokens (14)NFT and culture (24)Bridges and interop (28)Governance and DAO (8)Failed and defunct (39)

There are no prices or market caps here, deliberately. Those numbers are stale within hours of being written, and a directory full of stale numbers is worse than one without them. What is recorded instead is structural and durable: what the thing actually does, how its supply behaves, who can change it, whether the token captures any revenue, and what has happened to it. For live prices use an exchange or a data aggregator.

RISK WARNING Crypto assets are highly volatile and largely unregulated. You can lose everything you put in. Nothing on this page is financial, investment or tax advice, and nothing here is a recommendation to buy or sell any asset. Do your own research and never commit money you cannot afford to lose.