Ether Lost Due to Bugs and User Errors May Have Increased 44% Since March 2023, Report Suggests
The post Ether Lost Due to Bugs and User Errors May Have Increased 44% Since March 2023, Report Suggests appeared on BitcoinEthereumNews.com.
Ether lost due to bugs and user errors has surged by 44% since March 2023, highlighting a significant impact on Ethereum’s circulating supply. According to Conor Grogan, head of product at Coinbase, approximately 913,111 ETH is now considered permanently inaccessible, equating to about 0.76% of the current supply. Grogan emphasized on X that this lost Ether, valued at over $3.43 billion, only accounts for locked ETH and excludes other forms of loss such as forgotten private keys. Ether lost to bugs and user errors has increased 44% since March 2023, with over 913,000 ETH inaccessible, impacting Ethereum’s circulating supply and market valuation. ‘, ‘ 🚀 Advanced Trading Tools Await You!Maximize your potential. Join now and start trading! ‘, ‘ 📈 Professional Trading PlatformLeverage advanced tools and a wide range of coins to boost your investments. Sign up now! ‘ ]; var adplace = document.getElementById(“ads-bitget”); if (adplace) { var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”)); var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex; adplace.innerHTML = adscodesBitget[adsindex]; sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1; sessionStorage.setItem(“adsindexBitget”, sessperindex); } })(); Significant Increase in Lost Ether Supply Since Early 2023 The volume of Ether lost due to bugs and user errors has experienced a notable 44% increase since March 2023, rising from 636,000 ETH to over 913,000 ETH. This surge underscores ongoing vulnerabilities within the Ethereum ecosystem, particularly related to smart contract bugs and user mishandling. Despite this increase, the primary incidents contributing to these losses remain consistent, including the infamous Parity Multisig bug which accounted for 306,000 ETH lost, Quadriga’s faulty contract resulting in 60,000 ETH loss, and the Akutars NFT minting error with 11,500 ETH lost. Additionally, transfers to burn addresses have incrementally increased by 1,000 ETH, further contributing to the overall lost supply. Grogan’s analysis clarifies that…
