Magic Eden users: move your Solana funds now or risk losing access
Magic Eden has put a hard deadline on its multi-chain wallet — and Solana users are the most at risk. The NFT marketplace-turned-gaming operator warned this week that its wallet will enter an export-only state and be removed from app stores on April 1, with a full shutdown planned after May 1. If you don’t export your keys or move your assets before then, you could permanently lose access.
What’s happening and when
- March 31 (company post/tweet): Magic Eden warned the ME Wallet will switch to “deprecated export only” and be removed from app stores on April 1. The company reminded users that losing access to the device or installed app means losing access to any wallets stored there.
- April 1: Wallets will be removed from app stores and enter export-only mode.
- Through May 1: Users who already have the mobile app or browser extension installed may still be able to open it and export keys.
- After May 1: The wallet will be shut down fully and may stop functioning.
Why Solana holders should act now
For Ethereum and Bitcoin, your 12- or 24-word seed phrase can usually be used to restore addresses in another wallet provider. But Solana addresses and key derivations can appear differently between wallet providers, so relying solely on a restored seed phrase could cause complications. Magic Eden specifically urges Solana users to export their private key to guarantee continued access to Solana assets.
How to protect your funds (quick checklist)
- Use Magic Eden’s official export walkthrough (follow only links from the official site or app).
- Export your private key for Solana wallets if prompted — don’t assume a seed-only restore is sufficient.
- Import the seed phrase or private key into a trusted wallet (e.g., Phantom, Solflare, or another reputable provider), or move funds to an exchange or hardware wallet you control.
- Back up keys offline, never share them, and beware phishing attempts or fake export tools.
- If you lose access to a device after April 1 and haven’t exported keys, you may not be able to recover the wallet.
The bigger picture
Magic Eden launched in 2021 as a Solana NFT marketplace but has shifted strategy toward gaming and gambling products. In January it rolled out “Dicey,” a crypto casino, and announced it would wind down support for NFTs on Ethereum, ETH-based chains, and Bitcoin — despite previously leading in Ordinals and Runes trading on Bitcoin.
The company’s native token, ME, has fallen sharply. From its December 2024 all-time high of $17, ME is down about 99.94%. It’s trading near $0.09 with an estimated $50 million market cap, roughly 4% off its all-time low and up about 0.8% on the day (CoinGecko).
Bottom line: If you used the Magic Eden wallet — especially for Solana — export your keys or migrate your assets now. Waiting past May 1 risks permanent loss.
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