Ethereum Owner Mistakes Lead to Substantial Losses
Main Idea
Significant losses of Ethereum (ETH) have occurred due to various irreversible mistakes, including faulty contracts, address errors, and NFT collection issues, with a total of 913,111 ETH lost, valued at approximately $3.4 billion.
Key Points
1. A total of 913,111 ETH (0.76% of total supply) has been lost due to irreversible mistakes, with a current market value of around $3.4 billion.
2. The 2017 Parity wallet incident froze 306,000 ETH due to a faulty multi-signature contract, and funds remain inaccessible without a hard fork.
3. QuadrigaCX, a bankrupt Canadian exchange, mistakenly transferred approximately 60,000 ETH to unrecoverable addresses.
4. Errors in Micah Johnson’s Akutars NFT collection auction rendered $34 million (about 11,000 ETH) inaccessible due to contract flaws.
5. EIP-1559, implemented in 2021, has led to the burning of 5.3 million ETH, permanently reducing circulating supply and affecting price dynamics.
Description
Coinbase's Conor Grogan reveals the loss of 913,111 ETH, worth $3.4 billion. Notable incidents include the Parity wallet error and QuadrigaCX's mistaken transfers. Continue Reading: Ethereum Owner Mistakes Lead to Substantial Losses The post Ethereum Owner Mistakes Lead to Substantial Losses appeared first on COINTURK NEWS .
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