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Magic Eden Says ME Wallet Will Shift to Export-Only Mode on April 1

Magic Eden Says ME Wallet Will Shift to Export-Only Mode on April 1

Magic Eden states that its native wallet will become export-only on April 1 and shut down fully on May 1, requiring users to export private keys or seed phrases to avoid losing access.

Summary

Magic Eden said its native ME Wallet will move to export-only mode on April 1 and fully cease operations on May 1. The company has already removed the wallet from app stores and warned users to export their private keys or seed phrases before the shutdown. According to the notice, users who do not complete that step will not be able to recover their assets after the wallet stops operating.

Terms & Concepts
  • Private keys: Cryptographic credentials that give a user control over blockchain assets held in a wallet.
  • Seed phrase: A set of recovery words that can restore access to a crypto wallet and its associated private keys.
  • Export-only mode: A restricted wallet state that allows users to extract credentials but no longer supports normal wallet functions.