Solv co-founder responded in a long article: The accusations against Solv’s asset security issues are false and contradictory
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2025-01-04 13:01 2,565
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According to news on January 4, Solv co-founder Ryan Chow posted an article on X in response to the recent hot public opinions. The full text is as follows:
After experiencing a whole day of unprovoked public attacks on "1800 RUG" and "private agreement" yesterday, today Solv suffered even more ridiculous accusations. These accusations, without exception, target the core asset security issue, but their basis is wrong and contradictory, and they are an attempt to mislead the public by confusing the public. In response, we decided to respond head-on and use facts to defeat these untrue remarks.
First, Nubit Lianchuang Hans publicly accused Solv of misappropriating the underlying BTC of SolvBTC.BBN and tried to prove it by citing the mempool link (address xxxm5I2). In fact, the mempool link he intercepted belongs to SolvBTC.CORE, another income-generating asset of Solv, which is directly proven in the screenshots he provided as evidence.
In addition, Hans also accused Solv of urgently submitting an update request to DeFillama after "feeling guilty for being exposed." In fact, the BTC participating in SolvBTC.CORE must be re-pledged to a new script address every half month. The last 12.19 was pledged and 1.2 was withdrawn and re-pledged. The address needs to be resubmitted to DeFillama after each completion. This is completely Solv's normal action when managing SolvBTC.CORE assets. The information on the chain can fully prove the daily operational actions of Solv’s income assets.
In addition, Hans also accused SolvBTC.BBN of declining TVL during Babylon Cap3, again alluding to Solv being suspected of misappropriating user assets. In fact, Solv officially started the redemption of SolvBTC.BBN on that day. It is completely normal for TVL to change, which further highlights the liquidity and flexibility that SolvBTC.BBN provides users.
The content is even leading the market to speculate that Solv has "three BTC spends", implying that each BTC in Solv has been double-counted three times in TVL.
Solv Build has been building for four years, and at this sensitive time when TGE is about to take place, it has suffered successive well-planned unprovoked attacks. In this regard, we have provided all facts and evidence, leaving the truth to the market and the public to judge for themselves.