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Forward Industries’ 455,784 SOL transfer to Coinbase Prime sparks sale dispute

Forward Industries’ 455,784 SOL transfer to Coinbase Prime sparks sale dispute

On-chain data showed a 455,784 SOL move worth about $31.9 million and a 500,000 SOL unstaking, but a Coinbase Prime transfer alone does not prove Forward Industries sold tokens.

SOL

Fact Check
The Lookonchain X post directly confirms all specific numerical claims: 455,784 SOL deposit to Coinbase Prime, month-long inactivity prior, ~$1.59B spent, 6.83M SOL acquired since September 2025, and current value of $458.6M. The odaily news flash independently corroborates citing Lookonchain. The numbers match precisely between the headline claim and the on-chain monitoring source.
    Reference: 12
Summary

Forward Industries moved 455,784 SOL, valued at about $31.9 million, to Coinbase Prime and unstaked another 500,000 SOL from Sanctum after a month of inactivity as Solana fell below $70 and briefly traded near $66, a multi-year low according to the newer report. However, a fact-check disputed claims that the Coinbase Prime transfer proved a sale, noting the company had previously moved 1.88 million SOL to Coinbase Prime in November and later filings showed its holdings were unchanged. Forward still reportedly holds 3.787 million SOL in a self-custodied wallet, and its average SOL purchase price of $232.08 leaves it facing roughly $1.3 billion in unrealized losses on a position built for nearly $1.6 billion.

Terms & Concepts
  • SOL: Solana's native token, used for fees, staking and other activity on the network.
  • Coinbase Prime: An institutional trading and custody platform where asset transfers do not necessarily mean a sale has occurred.
  • staking: Locking tokens in a blockchain network to help support operations and earn rewards.