A user known by the pseudonym qklpjeth lost access to 7912 ezETH (valued at $25.8 million at the time of writing) by sending them to the wrong address.
The affected individual stated that on June 19, he accidentally copied incorrect data and sent the tokens to a smart contract with no withdrawal option. qklpjeth attempted to resolve the issue with the help of Renzo developers, who could have updated the code to unlock the funds, but they were unable to assist, citing “regulatory constraints.”
On November 10, the user sought help from the community, offering 10% of the amount (~$2.5 million) as a reward for the return of the funds.
Urgent Request for Help!
To all skilled hackers and white hats out there: I’ve lost a significant sum of funds in a contract and urgently need help recovering it. If you can successfully retrieve the funds, I’ll immediately offer a 10% reward, which is approximately $2.5 million…
— 我有一个狗王梦 (@qklpjeth) November 10, 2024
One commentator linked qklpjeth’s issues to flaws in the ERC-20 standard that have been overlooked since 2017. He noted that a similar transaction with ETH would simply result in an error, but this mechanism does not work with tokens.
I’m a hacker, not whitehat btw (https://t.co/g7nwrRVUBF)
You suffered because of a security issue in #ERC20 standard that I reported to @ethereum in 2017 and they didnt bother fixing it.
I already wrote a thread about that here:https://t.co/UIxuo5RA2S#ERC223
— Dexaran (@Dexaran) November 11, 2024
Harrison Seletsky, Director of Development at SPACE ID, called this situation a “wake-up call” and urged the industry to improve user experience.
“It’s astonishing that simple copy-paste errors still cost people millions in cryptocurrency,” the expert commented.
Previously, an unnamed trader missed out on more than $1.6 million in profits due to a hasty sale of meme tokens.