Alby wallet has emptied user BTC wallets based on a clause stating that if there are no transactions for 12 months, the entire balance can be moved. This policy has raised concerns within the crypto community.
Users have reported their BTC balances being removed from the old custodial accounts established before 2023. Notably, the creator of SlowMist lost funds due to this inactivity clause.
Alby has switched to self-custodied wallets, emphasizing that users now hold their private keys. The app is working on resolving concerns and managing both new and legacy wallets.
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