If You Hold Solana on Magic Eden’s Wallet, It’s Time to Move It or Lose It

Users of Magic Eden’s multi-chain crypto wallet will have to export the wallet or move its contents to avoid losing access to funds.

The NFT marketplace turned crypto casino and sportsbook had previously announced its intention to wind down its wallet operations, with support and app store listings set to end on April 1.

A last-minute reminder from the company has led to some questions from users as they try to migrate wallet services before the deadline.

“Tomorrow, the ME Wallet will go into a legacy export-only mode and be removed from the app stores,” according to a message from a Magic Eden representative in his community reads Discord. “If you lose access to your device or the downloaded version of the app, this means you will also lose access to any wallets.”

The guided export walkthrough of the company indicates that those who have already downloaded the wallet app or extensions can still access it until May 1, potentially allowing them to export their private keys later.

However, anyone without access to the mobile app or extension will no longer be able to download it from the respective app stores once it is removed on Wednesday. After May 1, the wallet will be completely shut down and may no longer work at all.

Those who used the wallet to make transactions Ethereum or Bitcoin can potentially use the seed phrase (a 12- or 24-word mnemonic that contains the private key) to restore their addresses to another wallet provider.

But Solana addresses may look different, so users with assets on the high-speed layer 1 network are encouraged to export their private key to ensure they maintain access to their Solana assets.

The company, which debuted in 2021 with a focus on Solana NFTs, launched Dicey – a crypto casino – in January as part of a strategic shift beyond digital collectibles. As part of that announcement it has indicated it would end support for NFTs on Ethereum, Ethereum-based chains, and Bitcoin– where it was once the leader in trading Ordinals and Runes, Bitcoin’s equivalent of NFTs and fungible tokens or meme coins.

The decision has not spared the platform’s native Magic Eden token, which trades as ME. The ME token is down 99.94% from its all-time high in December 2024 of $17.

ME is up about 0.8% today and down 4% from its all-time low, according to data from CoinGecko, which recently changed hands around $0.09 at a market cap of $50 million.