- Coinbase-backed Web3 venture Harpie has announced an immediate shutdown of all services
- The team has cited an unsustainable business model as the reason for its closure
- Users are being asked to disconnect wallets and prepare for asset migration
Web3 security startup Harpie has shut down operations effective immediately, citing difficulties in building a sustainable business. In a series of tweets, the company thanked users and assured them that final obligations, including giveaways, will still be honoured. A utility will be launched soon to allow users to move their vaulted assets safely as the Coinbase-backed venture winds down.
A Sudden End to a Bold Mission
Harpie announced its decision to fold in the early hours of March 27, stating in an X thread that it had “made the tough decision to shut down,” with services ceasing immediately:
We’ve made the tough decision to shut down Harpie. Services will be shut down immediately.
(1/5)
— Harpie (@harpieio) March 27, 2025
Backed by prominent investors including Coinbase Ventures and Dragonfly Capital, Harpie aimed to create a “theft-free crypto ecosystem.” The startup had built a reputation for offering real-time wallet protection and transaction monitoring, particularly through its Harpie RPC service, which helped intercept suspicious transactions before they were confirmed.
Founded in 2022, Harpie’s core offering was its browser extension and RPC endpoint designed to prevent crypto wallet drains and thefts—an increasingly common threat in the Web3 space. It gained popularity for its proactive security measures, even earning praise from security researchers and Ethereum users. However, despite the utility of its tools, the team has admitted that it “could not create a sustainable business model around it.”
Users Asked to Migrate Funds
In its announcement thread, the Harpie team provided immediate instructions for current users. “If your transactions are failing, please disconnect your wallets from the Harpie RPC via your wallet’s network switcher,” the company posted. A utility will be launched on the Harpie website in the coming days to help users move any remaining assets held in its vaults. Harpie also confirmed that “all outstanding giveaways around Harpie Season 1/our referral program will still be honored,” and advised users to follow updates via their Discord.
The team added that it was “grateful for everyone that used Harpie” during its short life, adding, “We hope that we inspired new companies to take the torch of solving this problem.” The shutdown marks the end of a promising venture that highlighted the need for wallet-level protection in the DeFi ecosystem. Despite its closure, Harpie leaves behind a legacy of innovation—and a challenge for the next wave of crypto security startups.
