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 need to export the wallet or move their contents to avoid losing access to funds.

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

A last minute reminder from the firm has led to some questions from users as they attempt to migrate wallet services ahead of the deadline. 

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

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

However, anyone without access to the mobile app or extension will not be able to download it from respective app stores once it’s removed on Wednesday. After May 1, the wallet will shut down fully and may not be functional at all. 

Those who used the wallet for transacting on Ethereum or Bitcoin may be able to use the seed phrase—a mnemonic made up of 12 or 24 words which contains the private key—to restore their addresses in another wallet provider.

But Solana addresses may appear differently, and therefore users with assets on the speedy layer-1 network are encouraged to export their private key to ensure they maintain access to their Solana assets.

The firm, which debuted with a focus on Solana NFTs in 2021, launched Dicey—a crypto casino as part of a strategic shift beyond digital collectibles in January. As part of that announcement, it indicated it would end support for NFTs on Ethereum, Ethereum-based chains, and Bitcoin—where it was once the leader in Ordinals and Runes trading, the Bitcoin 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 December 2024 all-time high of $17. 

ME is up around 0.8% on the day and 4% off its all-time low, according to data from CoinGecko, recently changing hands around $0.09 at a $50 million market cap.