Unlike traditional finance, where banks can reverse mistaken transactions, crypto offers no such safety net. In the decentralized world of Ethereum, once a transaction is confirmed on the blockchain, it is permanent and irreversible.
According to Conor Grogan, Director at Coinbase, over 913,111 ETH—worth approximately $3.4 billion at current prices—has been permanently lost due to human and technical errors. This staggering figure represents around 0.76% of Ethereum’s total circulating supply, currently standing at 120.7 million ETH.
A significant amount of Ethereum has been lost due to three main reasons.
Incident | ETH Lost | Cause |
Parity Wallet Bug | 306,000 ETH | Contract destroyed due to bug |
QuadrigaCX | 60,000 ETH | Poorly managed wallets after CEO’s death |
Akutars NFT | $34M in ETH | Two smart contract bugs |
Burn Address Mistakes | ~25,000 ETH | Sent to unrecoverable addresses due to typos |
No. Due to Ethereum’s immutable blockchain design, once ETH is sent to an invalid or inaccessible address, it cannot be retrieved. There is no central authority to reverse or recover funds.
Grogan believes the actual number of lost Ethereum may be much higher than $3.4 billion, as many incidents go unreported or unnoticed.
Ethereum is lost primarily due to transfers to wrong or unrecoverable addresses, vulnerabilities and coding errors in smart contracts, and failures or misconfigurations of multisig wallets.
No, due to Ethereum’s immutable blockchain design, once ETH is sent to an invalid or inaccessible address, it is permanent and cannot be reversed or recovered by any central authority.
The cryptocurrency world loves rumors, and lately, many have been circulating about Binance founder Changpeng…
Crypto treasuries have become the talk of this market cycle, with institutions and corporations scooping…
Dogecoin (DOGE) has recently pushed past the $0.24 mark, signaling renewed strength in its price…
Ethereum (ETH) is about to enter Q4 2025 at a pivotal moment, with traders closely…
Crypto markets are under pressure: Bitcoin dipped below $111,000 following macroeconomic shocks, and liquidity stress…
A recent report from blockchain firm Elliptic reveals how Russian state-linked networks have been using…