Solv Protocol Co-Founder Steps Back From Daily Operations Amid BTC+ Security Review

Meng Yan, the co-founder of Solv Protocol (CRYPTO:SOLVUSD), has announced that he has stepped away from day-to-day operations at the project and was not involved in its BTC+ business. He stated he was unaware of a security incident involving BTC+ that occurred in July until a user contacted him directly to communicate with the project's business team.

The security incident involved a deposit of 50 BTC and subsequent actions that formed an important condition in an attack path. Although Solv successfully blocked the attack three days later and protected user funds, the activity triggered an elevated security review. The project has restricted the associated accounts while it investigates inconsistencies in the user's identity and explanations of the transactions. Yan confirmed that the assets remain untouched and traceable on-chain, but the restrictions cannot be lifted until the security doubts are cleared.

Investors should monitor how Solv Protocol resolves this dispute, as the project has expressed willingness to settle the matter through formal judicial channels if necessary. Additionally, the market will watch the ongoing performance of Solv Protocol's token, which was trading down 0.40% at 0.003842 USD following the co-founder's clarifications.