Forward Industries Denies ~$123 Million SOL Transfer Is Company Activity

Odaily Report: According to Forward Industries monitoring, at 20:58 EST on November 14, the company denied that the transfer of approximately 1.78 million SOL was company activity and stated that it did not execute the transaction. On-chain records show that two transactions withdrew approximately 1.78 million SOL from two staking accounts to the same wallet; 50 seconds later, that wallet transferred out approximately 1.88 million SOL, which included an additional 102,000 SOL in staking withdrawals. On-chain records can only prove that the wallet was authorized to withdraw funds and cannot independently prove that Forward Industries controlled the signing wallet. The disputed amount above accounts for approximately 20% of the SOL treasury disclosed by the company, but it does not mean that its holdings have been confirmed to have decreased. The two transfers did not show any completed trades, and the Coinbase Prime designation cannot prove that a sale occurred.