KuCoin will move WELL tokens from the Moonbeam network to Base automatically, the exchange said. The migration comes as Moonbeam prepares to shut down its chain on July 31.
Why the migration is happening
Moonbeam, a smart-contract platform on Polkadot, is set to cease operations at the end of July. That means tokens still on the network after the deadline could become inaccessible. KuCoin's move ensures WELL holders don't lose access to their assets.
What KuCoin users need to know
The exchange will handle the transfer without any action required from users. After the migration, KuCoin will support the WELL token on Base, a layer-2 network built by Coinbase. The exchange hasn't said whether it will support WELL on any other networks after the switch.
KuCoin didn't specify a date for the migration, only that it will happen before the Moonbeam shutdown. Users who want to move their WELL tokens off KuCoin before the migration should do so before the exchange suspends Moonbeam deposits and withdrawals. KuCoin has not yet announced a suspension date.
What happens after July 31
Once Moonbeam shuts down, any WELL tokens still on that network will likely be lost. KuCoin's automatic migration is meant to prevent that for tokens held on the exchange. For tokens held in self-custody wallets on Moonbeam, users will need to move them manually before the deadline — or risk losing them.
