Shocking Revelation: Over 913K Ethereum Lost Permanently to Errors and Bugs
Main Idea
Over 913,000 Ethereum (ETH) worth approximately $3.43 billion has been permanently lost due to user errors and code bugs, representing 0.76% of Ethereum's circulating supply, with broader implications for the network and investor confidence.
Key Points
1. 913,111 ETH (worth ~$3.43 billion) has been permanently lost due to errors and bugs, accounting for 0.76% of Ethereum's circulating supply.
2. Combined with intentional removals (like EIP-1559 burns), the total lost ETH rises to ~6.2 million (worth ~$23.4 billion), or 5% of total supply.
3. Losses stem from user errors, code bugs, smart contract vulnerabilities, and security breaches/scams.
4. Permanently lost ETH can impact Ethereum's price by reducing supply, potentially exerting upward pressure if demand remains stable or increases.
5. Best practices to prevent loss include using hardware wallets and double-checking transaction details.
Description
BitcoinWorld Shocking Revelation: Over 913K Ethereum Lost Permanently to Errors and Bugs In the dynamic and often unpredictable world of cryptocurrency, news of significant asset movements or market shifts is common. However, a recent revelation from a Coinbase executive has sent ripples through the community, highlighting a substantial and permanent reduction in Ethereum’s circulating supply due to unforeseen circumstances. This isn’t about market volatility or planned protocol upgrades; it’s a...
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