Bitcoin staking platform Solv Protocol is at the center of controversy after accusations surfaced that it has been manipulating its total value locked (TVL). Lianchuang Hans, the co-founder of Nubit, alleged on X that the protocol has been recycling user deposits.
According to Hans, Solv uses the same assets on multiple protocols and manipulates its TVL on Defillama. He alleged that the platform is not locking BTC deposits as it claims. Following his accusations, Hans called on Solv users to withdraw their assets from the protocol as they could lose their assets.