Oof! $3.4 Billion in Ethereum ( $ETH ) just vanished! š±
People are accidentally losing a TON of their digital money. We're talking 913,111 ETH gone due to mistakes or bad computer programs. That's plus 5.3 MILLION ETH burned on purpose!
Total Lost: 6.2 MILLION $ETH ($23.4 Billion!) That's 5% of all $ETH out there, gone forever. It's like throwing the key to your safe into the ocean! š
Why it happens:
Buggy Programs: Some crypto apps had problems that locked up funds. (Like the old Parity Wallet or Akutars NFT fiasco).
"Burn" Addresses: Sending ETH to special addresses where it's destroyed for good (like "0x0000...dead").
Quick Facts:
Unlike Bitcoin's limited supply, Ethereum's supply can change.
Recent updates (like EIP-1559 and The Merge) now burn some ETH, which can make it more rare.
Lost ETH = More Rare = Potentially More Valuable (unless you're the one who lost it! š¬)
šØ Don't Lose YOUR Crypto! šØ
Double-check addresses! (Copy-paste is your friend).
Be careful with new apps.
Backup your secret "seed phrase."
NEVER send to a burn address!
Use wallets with safety features.
The blockchain doesn't have an "undo" button. Be smart, be safe! š¼šš
