Why Over 913,000 Ethereum(ETH) Is Lost Forever?
Main Idea
Over 913,111 ETH, worth approximately $3.4 billion, has been lost due to various incidents, and these lost funds are irrecoverable due to Ethereum's immutable blockchain design.
Key Points
1. 913,111 ETH (worth ~$3.4 billion) has been lost, representing 0.76% of Ethereum's total circulating supply.
2. Notable incidents include the Parity Wallet Bug (306,000 ETH lost), QuadrigaCX (60,000 ETH lost), Akutars NFT ($34M in ETH lost), and Burn Address Mistakes (~25,000 ETH lost).
3. Lost Ethereum cannot be recovered due to the immutable nature of the blockchain.
4. The actual amount of lost ETH may be higher than reported, as many incidents go unreported or unnoticed.
Description
The post Why Over 913,000 Ethereum(ETH) Is Lost Forever? appeared first on Coinpedia Fintech News Unlike traditional finance, where banks can reverse mistaken transactions, crypto offers no such safety net. In the decentralized world of Ethereum, once a transaction is confirmed on the blockchain, it is permanent and irreversible. How Much Ethereum Has Been Lost? According to Conor Grogan, Director at Coinbase, over 913,111 ETH—worth approximately $3.4 billion at current prices—has been permanent...
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