Forward Industries Denies $123 Million SOL Transfer Amid Stake Withdrawal

Blockchain trackers linked a 1.78 million SOL stake withdrawal, valued at $123 million, to Forward Industries; the company denied making the transfer. The withdrawals are visible on the Solana blockchain, but ownership of the wallets remains disputed. The chain record confirms that the tokens moved out of staking, but ownership of the wallets remains disputed. That distinction leaves the company connection unconfirmed despite the transaction’s scale. The disputed activity was valued at $123 million and involved a major Solana treasury. The company’s denial challenges the link between it and the withdrawal, while the on-chain movement itself is established.