BlockBeats reported that on January 4, Ryan Chow, co-founder of Solv Protocol, released a statement on social media (regarding the unfounded attacks that Solv is currently facing) in response to the recent FUD present in the crypto market.
Ryan Chow stated that Nubit co-founder Hans publicly accused Solv of misappropriating the underlying BTC of SolvBTC.BBN and attempted to validate this by referencing a mempool link. However, the mempool link that Hans captured actually belongs to another revenue asset of Solv, SolvBTC.CORE, and this 'error' may have been intentional. In fact, the BTC participating in SolvBTC.CORE needs to be re-staked to a new script address every half month; the last stake was on December 19, and it was retrieved and re-staked on January 2. After each completion, the address needs to be reported to defillama again, which is completely a routine action for Solv in managing SolvBTC.CORE assets.
In addition, Hans also accused SolvBTC.BBN of a decline in TVL during Babylon Cap3, once again implying that Solv is suspected of misappropriating user assets. The truth of this accusation is that Solv officially began the redemption of SolvBTC.BBN on that day, and the change in TVL is completely normal. Ryan Chow believes this further highlights the liquidity and flexibility that SolvBTC.BBN provides to users.