Fraud
Fraud: 5 startups that closed for this reason, with their stories and lessons.
5 startups
Terraform Labs
The company behind the Terra blockchain, which created the algorithmic stablecoin UST and LUNA
Closed2017 – 2022Celsius Network
A crypto lending platform that promised depositors returns of up to 17 per cent
Closed2019 – 2022FTX
The crypto exchange that reached a $32 billion valuation and collapsed within days
Closed1999 – 2020Wirecard
The payments company that rose into the DAX, then collapsed over €1.9 billion that had gone missing
Closed2003 – 2018Theranos
The USD 9 billion health start-up that promised hundreds of tests from a single drop of blood
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This section is compiled from public sources (Wikidata, news archives and company announcements). Figures are given as they appear in those sources; unknown fields are left blank. If you spot a mistake in an entry, you can send us a correction.