Coleocephalocereus pluricostatus is an endemic cactus from eastern Brazil that occurs on naked gneiss/granite inselbergs in the Atlantic Forest biome. Here we report the extinction of a population of C. pluricostatus and the rapid decline of other populations of the species in eastern Minas Gerais, Brazil due to cochineal insects, diseases and mining operations. We offer some hypotheses to explain this dramatic decline and suggestions for monitoring the populations.