NEAR Protocol said MyNearWallet will stop operating on Oct. 31 and asked users to move their assets to a newly recommended account setup. The project said user assets remain stored on-chain, but access after the shutdown will require a new way to manage those holdings. According to NEAR, the new account supports swaps, payments and other actions across more than 30 chains, includes privacy protection by default, and can be controlled with passkeys. NEAR also released a migration guide, along with a timeline for the MyNearWallet shutdown and a FAQ. Before moving funds, the team advised users to test the process with a small amount, use the deposit entry from a connected wallet each time, and avoid sending funds twice to the same deposit address because each address is single-use. Users were also told to migrate assets one by one, wait for each transfer to complete, and keep their MyNearWallet recovery information until all balances appear in the new account. NEAR added that neither the NEAR Foundation, MyNearWallet nor support staff will ask for a mnemonic, recovery phrase or private key.
NEAR Protocol said MyNearWallet will stop service on Oct. 31.
The project said user assets are stored on-chain. After the service ends, users will still need a new access method to manage those assets, and NEAR recommended moving funds to a newly suggested account. The company said the new account supports swaps, payments and other functions across more than 30 chains, includes privacy protection by default, and can be controlled with passkeys.
Migration instructions released
NEAR also published a step-by-step migration guide, as well as a timeline for MyNearWallet and a frequently asked questions document.
Before migrating, NEAR advised users to test the process with a small amount first and to use the deposit entry from the connected wallet for every transfer. It also said deposit addresses are single-use and users should not send funds to the same address more than once.
NEAR added that users should migrate assets one by one and wait for each transfer to finish. It also told users to keep their MyNearWallet recovery information until the full balance arrives in the new account.
Security warning
NEAR said the NEAR Foundation, MyNearWallet and support staff will not ask for a mnemonic, recovery phrase or private key.
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