More than $1.1 billion in eth has been lost due to errors
A report revealed that the amount of 636,000 eth cannot be recovered due to mishandling by users
In Ethereum, more than $1.1 billion in eth, the native cryptocurrency, has been lost due to human error. According to a recently published report, it is estimated that at least 636,000 eth, equivalent to 0.5 % of the circulating supply of the cryptocurrency, have become completely inaccessible.
Most of the funds were lost due to a bug in the Parity crypto wallet, which affected 178 addresses and resulted in the loss of about 514,000 eth in 2017.
Other cases include eth lost due to typos and assets sent to burn addresses. The report suggests that the actual amount of eth lost or inaccessible is much higher than documented.
It should be noted that not only Ethereum has lost coins, but it is estimated that around 1.6 million bitcoins, valued at approximately $44.8 billion, have also been lost forever.
(Reference image source: file)
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