Trader Sends Ethereum to Wrong Address, Risks Losing $25 Million Forever
The trader is offering a reward of 10%, which is approximately $2.5 million at the current price.
A crypto trader has accidentally locked $25 million worth of Ethereum in a restaking protocol and is now scrambling to recover the funds. Unless the protocol updates its smart contract, the ETH might be lost forever.
According to reports from *The Block*, the trader mistakenly sent around 8,000 ezETH tokens to a safe module address instead of transferring them to their secure wallet. The error occurred while interacting with Renzo, a restaking platform designed for Ethereum and Solana networks.
Plea for Help and a Huge Reward
Realizing the error, the trader turned to social media to seek assistance from hackers and blockchain experts. In a desperate plea posted on X (formerly Twitter) on Sunday, November 10, the trader wrote:
“To all the skilled hackers and white hats out there: I’ve lost a significant amount of funds in a contract and urgently need help recovering them. If you can successfully recover the funds, I’m offering a reward of 10%, which is approximately $2.5 million at the current price.”
The trader’s post highlights the gravity of the mistake and the high stakes involved in recovering the funds.
The Renzo Platform and Ethereum Restaking
Renzo is a platform designed to facilitate restaking across Ethereum and Solana networks, allowing users to maximize their staking rewards. Restaking involves leveraging staked assets for additional purposes, such as providing security for other protocols. However, the functionality depends on precise execution.
Lessons for Crypto Users
This incident underscores the critical importance of double-checking details before executing any blockchain transaction.
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