Shocking Amount of ETH Lost Forever Due to User Errors: Report
Main Idea
As of January 31, 2025, at least 913,111 ETH worth approximately $3.43 billion has been lost due to holder mistakes, with actual losses likely much higher, and Ethereum remains the most targeted blockchain for hacks and exploits.
Key Points
1. At least 913,111 ETH (worth ~$3.43B) has been lost due to holder mistakes, representing 0.76% of ETH's total supply, though actual losses are likely higher.
2. Including 5.3M ETH burned via EIP-1559, over 5% of ETH's $23.42B market cap has been lost or burned.
3. Notable cases of lost ETH include 306,000 ETH from a Parity wallet bug, 60,000 ETH locked in QuadrigaCX, and 11,500 ETH trapped in the Akutars NFT project.
4. Ethereum was the most targeted blockchain in H1 2025, with 175 incidents causing $1.63B in losses, driven by DeFi and smart contract vulnerabilities.
5. Phishing attacks were the most frequent security issue, with 132 incidents stealing $410M, while DeFi protocols' high liquidity makes them attractive targets.
Description
According to Coinbase Product Director Conor Grogan, as of January 31, 2025, at least 913,111 ETH has been lost due to mistakes made by holders. The lost tokens are worth approximately $3.43 billion, representing 0.76% of the circulating supply. Actual Losses Likely Much Higher Grogan shared his analysis on July 21 via a post on X, noting that if we include the 5.3 million ETH burned through EIP-1559, then more than 5% of the total supply ever created has been permanently destroyed. This transla...
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