Sweatcoin the step app and SWEAT the crypto token are easy to mash into one word in a chat. They are not the same company stack. Sweatcoin (in-app “sweatcoins”) is operated by Sweatco Ltd as a consumer rewards product. SWEAT and Sweat Wallet have been run by The Sweat Foundation as a separate crypto layer, largely associated with the NEAR ecosystem. Conflating them is how phishing copy gets written.
A quick look at the Foundation’s own update pages matters more than a Telegram tip. As of late 2026 the Foundation has said Sweat Wallet and the SWEAT model “as they exist today” end on 30 December 2026, while stressing that Sweatcoin the app continues under Sweatco. The token contract on-chain is a different question from whether an official wallet app and its services keep running. Separately, reporting in April 2026 described a major exploit against SWEAT that the team said was contained with balances restored — a reminder that even named tokens carry operational risk.
None of that automatically makes every SWEAT holder a fraud victim. It does mean you should treat unsolicited “migrate before the deadline”, “claim your Grow Jar”, or “support needs your seed phrase” messages as hostile. Official channels say they will not message you first asking for keys. Minting rules, exchange listings and liquidity can change; screenshots of past prices are not a withdrawal plan.
If you hold SWEAT, back up your own keys offline, use domains you typed yourself (not links from strangers), and decide exits based on markets and official notices — not on a helper who needs remote access.
If someone is pressuring you around a wallet “migration” or recovery, start at Get help. For paid recovery after a loss, read Fake recovery first.
This article is for general information only. It is not legal or financial advice. Details change. If you have lost money, contact your bank or card issuer and use the routes on the help pages.