{"id":2707,"date":"2024-11-14T19:31:23","date_gmt":"2024-11-14T19:31:23","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=2707"},"modified":"2024-11-14T19:31:23","modified_gmt":"2024-11-14T19:31:23","slug":"investor-loses-25m-due-to-misplaced-crypto-transfer-says-cexs-feel-more-secure","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=2707","title":{"rendered":"Investor Loses $25M Due To Misplaced Crypto Transfer, Says CEXs Feel More Secure"},"content":{"rendered":"<div>\n<p>In a costly error, an anonymous cryptocurrency investor known as \u201c<strong>qklpjeth<\/strong>\u201d recently lost $25 million after mistakenly transferring funds to an inaccessible contract address, prompting the investor to emphasize the relative safety <a href=\"https:\/\/www.benzinga.com\/money\/what-is-a-crypto-exchange\">of centralized exchanges<\/a>.<\/p>\n<p><strong>What Happened: <\/strong>&#8220;Staking on centralized exchanges feels more secure since on-chain staking still carries significant risks,&#8221; qklpjeth told Benzinga.<\/p>\n<p>The misstep occurred on June 19, when 7,912.31 <strong>ezETH<\/strong>, a restaked <strong>Ethereum<\/strong> (CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/eth\/usd\">ETH<\/a>) token issued by the <strong>Renzo protocol<\/strong>, was accidentally sent to the wrong address.<\/p>\n<p>The user explained that a simple error in copying and pasting an address resulted in the funds being locked away permanently. <\/p>\n<p>\u201cThe funds were sent to a contract address that cannot be accessed,\u201d said qklpjeth, adding that &#8220;the error happened simply because the wrong address was copied.&#8221; <\/p>\n<p>Despite months of attempts to contact Renzo protocol for assistance, no progress has been made. <\/p>\n<p>The investor even issued a public appeal, offering a 10% reward, or $2.5 million, to anyone who could help recover the locked funds.<\/p>\n<p><figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.benzinga.com\/events\/digital-assets\/\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"250\" src=\"https:\/\/editorial-assets.benzinga.com\/wp-content\/uploads\/2024\/03\/29155259\/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif\" alt=\"Benzinga Future of Digital Assets conference\" class=\"wp-image-270548\"><\/a><\/figure>\n<\/p>\n<p><strong>Also Read: <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/11\/41984505\/bitcoin-to-peak-at-180000-says-vanecks-head-of-digital-assets-research\">Bitcoin To Peak At $180,000, Says VanEck\u2019s Head Of Digital Assets Research<\/a><\/strong><\/p>\n<p><strong>Why It Matters: <\/strong>The irreversible nature of such errors in the DeFi space has drawn the attention of industry experts.<\/p>\n<p>Speaking with &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/11\/41985685\/investor-loses-25m-due-to-misplaced-crypto-transfer-says-cexs-feel-more-secure\" alt=\"Investor\" loses due to misplaced crypto transfer says cexs feel more secure>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In a costly error, an anonymous cryptocurrency investor known as \u201cqklpjeth\u201d recently lost $25 million after mistakenly transferring funds to an inaccessible contract address, prompting the investor to emphasize the relative safety of centralized exchanges. What Happened: &#8220;Staking on centralized exchanges feels more secure since on-chain staking still carries significant risks,&#8221; qklpjeth told Benzinga. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-2707","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2707"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2707\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}