A recent publication by Arkham Intelligence reveals that approximately seventy crypto billionaire wallets, each possessing assets valued at seven figures, have encountered issues on various decentralized finance (DeFi) bridge platforms. Among these is a wallet linked to Ethereum co-founder Vitalik Buterin, holding more than one million dollars, which has been immobilized for approximately six and a half months.
Some cryptocurrency wallets, including those linked to well-known figures and organizations such as Coinbase, have had unclaimed assets in bridge contracts for close to two years, according to crypto analysis firm Arkham Intelligence.
DeFi Bridge contracts serve as software intermediaries, enabling data and asset exchange between distinct blockchain systems. They foster compatibility within Decentralized Finance (DeFi) by promoting seamless transitions between chains. However, it’s essential to note that not all DeFi bridges operate in the same fashion. Some of these cross-chain solutions permit users to effortlessly acquire their assets on the connected chain without manual intervention.
In addition, users of native bridges need to manually transfer their funds since smart contracts cannot automatically notify them to do so.
Top Wallets Stuck with DeFi Bridges
The wallet belonging to thomasg.eth has over $800,000 in limbo within the Arbitrum Bridge, unable to be accessed for almost two years.)
At Bofur Capital, another digital wallet is keeping 27 Bitcoin wrapped with a value of around $1.8 million, which have been stationary for more than two years. Furthermore, a wallet connected to NFT user Mike Macdonald has roughly $117,000 worth of assets associated with CryptoPunks sales on a bridge contract.
Arkham suggested that the account owner should look into the matter more deeply, as there’s a possibility they might be in possession of an account that has been earning from CryptoPunks sales. Additionally, a wallet containing approximately 50 Ethereum from Vitalik.eth, which amounts to nearly $1 million in ETH on the Optimism bridge, has gone unnoticed for the past seven months.
Another discovery from Arkham Intelligence: A Coinbase wallet containing approximately $75,000 in digital assets has been identified. This wallet has been immobile for close to six months. According to Arkham’s analysis, Coinbase apparently attempted to transfer $75,000 worth of USDC into Ethereum but subsequently overlooked the transaction.
Arkham Research reached out to the owners of the forgotten and overlooked funds, reminding them of their assets and encouraging them to reclaim them. The organization additionally warned the public that such incidents are prevalent with these specific types of bridges due to their inherent traits.
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2024-04-23 15:39