About 50 BTC remain unrecoverable after SolvBTC and BTC+ incident

  • Neil Lee said about 50 BTC remain unavailable after BTC+ functions were suspended.
  • About 50 BTC were converted into SolvBTC and BTC+ for roughly 3% annualized yield.
  • Solv Protocol disclosed the incident on July 22 and reported restored functions on July 31.

About 50 BTC withdrawn from Binance and converted into SolvBTC and BTC+ remain unavailable for redemption, according to Neil Lee (@neillee99). The assets were used to seek roughly 3% annualized yield before BTC+ minting and redemption were suspended. Solv Protocol disclosed a security incident on July 22 and said assets were not affected, then said on July 31 that the functions had resumed. Neil Lee said the address holding the funds remains restricted, despite submitting proof of the funds' source and wallet control, and called on Binance and investors to pay attention.

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