$500M to Send to Ethereum Genesis Address by Mistake

Mistakes can cost you a lot, especially in the cryptocurrency world
05 March 2018   944

Ethereum’s first address is 0x with 40 zeroes. It’s also a dangerous one that has been the unintended recipient of $6 million in ether and over $500 million in ERC20 tokens. This is reported by Bitcoin Com.

This address is really dangerous: just enter all the zeros and your ether or ERC20-tokens go to eternity. The situation is aggravated by the fact that some wallets specify this address by default and allow sending transactions to it if the user does not enter another address.

ETH Genesis Address
ETH Genesis Address

Is there any way to get the golem I sent to 0x0000000000000000000000000000000000000000 back? I was transfering my tokens from my ethereum wallet to my ledger nano s and forgot to input an address before hitting send. Ethereum wallet apparently sends to 0x0000000000000000000000000000000000000000 as a default. Has this happened to anyone else?

moderndayblues at Reddit

Another user states that he sent all his savings in the amount of 1 493 ETH to the same address. In just 3 years of the existence of the crypto currency, 750 transactions were sent to this address, containing 7,000 ETH ($ 6 million) and more than 200 varieties of ERC20-tokens worth $ 600 million.

Today, the genesis address of Ethereum stores 33,000 Aeternity, nearly half a million BAT, 9.5 million Bytom, 750,000 Golem, etc. If, in the case of bitcoin, the funds at the primary address are not recoverable due to the device of crypto currency and the disappearance of Satoshi Nakamoto, Ethereum users can expect a more successful outcome. If the creators of Ethereum have access to private keys from this address, they can return all funds to it to senders and create a smart contract that will do this automatically, however, the creation of such a system, apparently, is not yet included in the number their priority tasks.

MyEtherWallet to Roll Out MEW Connect

The application provides a secure login to user accounts
19 September 2018   134

Developers of the popular wallet MyEtherWallet presented the final version of the mobile application MEW Connect.

The application provides a secure login to user accounts. With MEW Connect, users do not need to enter a private key to open a wallet. Instead of using a private key, the introduction of which may pose a security risk, the user reads a special QR code.

Kosala Hemachandra, MyEtherWallet founder in talk with TechCrunch said that he he hopes beta users will comb through the code and help find issues with the app before its wider release.

The app is available for both iOs and Android. MyEtherWallet.com service is visited daily by about 600 thousand users.

Recall, the beta version of MEW Connect was introduced in July.