PANews reported on May 12th that Zap, the Memecoin trading app, announced on its X platform that the project will shut down on June 1st. The app aimed to allow users to register and purchase their first Memecoin within 30 seconds, but failed to achieve the expected market response. Zap advised users to log in to their accounts before the closure, export their private keys, and import them into their Phantom wallets to continue accessing their assets. After June 1st, users who have not exported their private keys can still securely access their funds through Privy Home.