Solflare
Solflare is a self-custody cryptocurrency wallet for the Solana blockchain, offered as a mobile app and browser extension and developed and operated by Solrise Finance Ltd, a company registered in the British Virgin Islands. The team has built the wallet since 2020 and the company was established in 2021; its co-founders are Vidor Gencel and Filip Dragoslavić. In October 2026 a security incident at its staking provider affected the keys for the Solflare validator, and Solflare moved to a new validator, saying user funds were not affected.
Contents4 sections
Key facts
2020–2021From Validators to Solana’s First Web Wallet
Vidor Gencel said he and friends first ran validators on SolanaSolanaSolana is a proof-of-stake (PoS) public blockchain designed for high throughput and low latency, with SOL as its native token; it was developed by Solana Labs and launched Mainnet Beta in March 2020. It is known for design choices such as its Proof of History clock and parallel execution, suffered several network-wide outages in its early years, and became one of the crypto industry’s focal points in events including the FTX collapse, U.S. SEC lawsuits, and the listing of Solana ETFs.Open the full entry, found that the network lacked a wallet and users could only interact through a command line, and so built Solana’s first web wallet.[1]
Solflare’s website says the team has built the wallet since 2020 and calls Solflare the first Solana wallet.[2]
Its documentation says the company was established in 2021 and that the wallet is developed and operated by Solrise Finance Ltd, registered in the British Virgin Islands.[3]
October 27–28, 2026Staking Provider Incident and Validator Migration
On October 27, Solflare said on X that its staking provider had notified it of “a security incident on their side,” affecting the keys the provider held for the Solflare validator, which stopped producing rewards; Solflare said users’ SOL was safe.[4]
The next day it announced that a new validator was live, said “no user funds were touched,” and pledged to cover missed rewards for users who move their stake to it.[5]
Solflare did not name the provider, say when the incident occurred or explain how the keys were affected. As of October 28, validator dashboards showed about 1.56 million SOL delegated to the original Solflare validator, which was marked delinquent.[6]
Business: Products and Scale
Solflare’s products include the wallet for managing Solana assets, staking SOL, swapping tokens and connecting to decentralized apps; Solflare Shield, a tap-to-sign hardware wallet card; Solflare Card, a self-custody debit card; and Seed Vault Wallet, built with Solana Mobile for the Seeker phone.[3]
A September 2025 profile described Solflare as having more than $15 billion in managed assets and over 4 million active users.[1]
Sources
- How Solflare became Solana’s self-custodial wallet for everyday users (opens in a new window)
- Step into the Stronghold of the Free (opens in a new window)
- About Solflare (opens in a new window)
- Update on Solflare SOL staking (opens in a new window)
- Update on Solflare SOL staking (opens in a new window)
- Solana Wallet Solflare Plans Validator Migration After Provider Reports Key Incident (opens in a new window)