NEAR Protocol News: How Users Can Migrate Before MyNearWallet Shutdown

NEAR Protocol MyNearWallet to ShutDown on Oct 31: What Users Must Know

Wallet shutdown news can worry anyone who holds crypto. This case is different from a hack or a freeze. NEAR Protocol announced that MyNearWallet will close on October 31, and users need a new way to access their assets. This article explains the deadline, the safety facts, and the steps to follow.

At a Glance

• What is happening: MyNearWallet, a non-custodial wallet in the NEAR ecosystem, will be retired.

• Deadline: October 31, 2026.

• Are funds safe? Yes. Assets stay on-chain and are not held by the wallet.

• What to do: Move to a new wallet or access method, such as a near.com account secured with a passkey.

• Key tip: Test with a small amount first. Keep your recovery info until every balance arrives.

NEAR Protocol Confirms MyNearWallet Shutdown on October 31

On October 6, 2026, NEAR Protocol posted on X that MyNearWallet will be sunset on October 31. The same news the same day. The notice asks users to migrate to a new wallet or access method before the date. NEAR did not frame this as an emergency. It is a planned retirement with a clear timeline, and full details are on official Page

Source: MyNearWallet sunset page

Are MyNearWallet Funds Safe After the Shutdown?

According to NEAR, your assets are stored on-chain. MyNearWallet is non-custodial, so it never held your coins. The shutdown removes a way to access your funds, not your ownership of them. Think of it like losing a key holder while the safe stays where it is. You only need a new key. Still, you should act before the deadline so you avoid last-minute stress.

NEAR Price Today: Market Stays Steady as the Sunset Nears

Market data shows no panic around the news. CoinGecko listed NEAR Price at about $5.23 on October 6, up 4.3% over 24 hours. The price moved between a low of $4.94 and a high of $5.35 during that period. Market cap stood near $6.845 billion, which placed NEAR at rank #21. Trading volume over 24 hours was about $833.61 million, and total value locked was about $141.6 million.

Source: CoinGecko, October 6, 2026.

These numbers fit the main message. A wallet closing is an access issue, not a network failure. The chain keeps running, and holders keep their tokens. That said, price moves have many causes, and this snapshot does not prove the news helped or hurt the market. Prices change quickly, so check live data before you decide anything.

What MyNearWallet Users Need to Do Before October 31

Start early. Pick a new wallet or access method you trust. Then follow four simple rules from NEAR:

1. Test the process with a small amount first.

2. Move one asset at a time.

3. Wait for each transfer to finish before starting the next.

4. Keep your MyNearWallet recovery info until every balance shows in the new account.

Do not delete or discard your recovery details early. They are your safety net if something goes wrong.

NEAR Recommends a Small Test Before Moving All Assets

A small test lets you spot mistakes while the cost is low. NEAR also says to use the "Deposit from connected wallet" option every time. Deposit addresses are single-use. If you copy one and send funds to it twice, the second transfer may not arrive where you expect. Treat each address as one trip only. After the test lands safely, repeat the process for larger balances.

Sources: NEAR Protocol X

How to Move Your NEAR Assets to a New Wallet

NEAR points users to a near.com account that you control with a passkey. The platform supports swaps, payments, and earning across more than 30 chains, and it is confidential by default, according to the announcement. Here is the basic flow:

1. Open the official step-by-step guide.

2. Create or sign in to your near.com account with a passkey.

3. Connect your MyNearWallet account and use "Deposit from connected wallet."

4. Send a small test amount and confirm it arrives.

5. Move each remaining asset, one by one.

6. Check that every balance appears in the new account.

Always type official links yourself or use the verified links above. Fake guides are a common trick during wallet migrations.

MyNearWallet Will Shift to Migration and Recovery Functions

After the sunset, the crypto wallet will gradually move toward migration and recovery tools. That means it will no longer work as a full daily wallet. Do not plan to rely on it for long. Use any remaining access only to finish your move and confirm your balances. The sunset page has the latest timeline and FAQs.

MyNearWallet Recovery Phrase Warning: What Users Must Never Share

Wallet changes attract scammers. NEAR repeats a firm rule: never share your seed phrase, recovery phrase, or private key. NEAR Foundation, crypto wallet and support staff will never ask for it. If someone requests it by message, email, or a pop-up, treat it as a scam. Anyone with that phrase can take everything in your account.

NEAR Protocol Users Have Until October 31: What Happens Next?

The takeaway is simple. Your assets remain on-chain, but you need a new way to access them. Begin soon, test small, move one asset at a time, and keep your recovery info until the last balance appears. Check the official NEAR Protocol news channels for updates as the date gets closer.

Disclaimer: This article is for information only and is not financial, investment, or legal advice. Crypto assets are volatile and carry risk, including the loss of funds. Always do your own research, verify instructions on official sources, and consider speaking with a licensed professional before making decisions.