🚨 $3.4 BILLION in Ethereum LOST FOREVER Due to User Errors!
A staggering 913,111 ETH, worth over $3.43 billion, has been permanently lost due to user errors and bugs, as reported by Coinbase's head of product, Conor Grogan! That's almost 1% of Ethereum's total circulating supply, vanished into the digital abyss!
This eye opening figure has surged 44% since March 2023, with major incidents like the Parity Multisig bug and Quadriga's faulty contract contributing to the losses. And if you include the 5.3 million ETH burned by EIP 1559, a whopping 5% of all Ether is effectively out of circulation!
While Ethereum's supply isn't hard capped like Bitcoin's, these permanent losses, combined with EIP 1559 and the Merge's reduced issuance, are a powerful reminder of scarcity. Always double check your transactions, protect your keys, and stay safe!
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