Solv Protocol Co-Founder Says He Left Daily Operations and Was Unaware of BTC+ Incident
Solv Protocol co-founder Meng Yan said he has left the project’s day-to-day operations and was not involved in the BTC+ business, adding that he was unaware of the incident when it occurred. According to ChainCatcher, he said a user later contacted him and asked him to communicate with the business team.Meng said Solv disclosed a BTC+ security incident in July, and that the deposit of 50 BTC and subsequent actions formed an important condition used in the attack path. He said the attack occurred three days after those actions, and that Solv identified and blocked it in time, protecting BTC+ users’ funds.He said the available facts do not prove the two matters are necessarily related, but were enough to trigger a higher-level security review. As a result, risk controls protected the funds and asked the user to explain the situation. Meng said Solv never asked the user to complete any form of KYC during the review, and ordinary BTC+ users were not required to use real-name verification.The review focused on whether the user’s identity and account explanations were consistent, whether the related accounts were controlled by the user, and whether the explanation for key actions matched objective records. Risk control feedback said the user used multiple different names and online identities, and that several key factual explanations were inconsistent.Meng gave examples, saying the user claimed on July 18 that he saw a similar transaction by someone else, but the review showed that transaction took place on July 20. He also said the user later claimed to have acted after seeing related content on Solv’s website, but the page did not contain the content he described at the time. Meng said the security restriction could not be lifted until the doubts were cleared, and that Solv had never refused to resolve the matter through formal channels such as judicial procedures. He added that, to his knowledge, the assets remained intact, were traceable on-chain, and had not been transferred, pledged, or disposed of.