Solv Protocol Responds to User's Inability to Redeem Approximately 50 BTC: Individual Transactions Triggered Risk Control, Relevant Assets Remain Intact Within the Protocol

BlockBeats news, September 30: Solv Protocol has issued a clarification regarding a recent BTC+ redemption incident that sparked public discussion, stating that the BTC+ subscription and redemption mechanism is currently operating normally. This incident is an isolated case, where a specific transaction triggered the protocol's risk review, and it does not affect BTC+ overall subscriptions and redemptions.

Solv Protocol stated that the assets related to this incident remain safely and intact within the protocol, and have not been transferred, destroyed, or otherwise disposed of. Currently, the relevant matter is under review in accordance with established risk management procedures.

The protocol will continue to handle this incident based on verifiable information and evidence, and will not make judgments solely based on social media identities or unilateral public statements. If necessary, Solv Protocol will cooperate with legal counsel or further verify the situation through relevant judicial procedures. Solv stated that it will no longer respond to other public discussions based on online identities or similar situations in the future, and will continue to prioritize asset security and the normal operation of BTC+.

Previously, X user @neillee99 posted that on July 8, they withdrew approximately 50 BTC from Binance and converted it through the normal process into SolvBTC and BTC+ to obtain an annualized yield of about 3%. BTC+ subsequently suspended minting and redemptions; Solv Protocol announced the resumption of related functions on July 31, but the user claimed their address remained restricted, and the related assets have still not been redeemable to date. The user stated that they had submitted proof of source of funds, transaction records, and wallet control, with the request being to lift the address restriction.