$500M to Send to Ethereum Genesis Address by Mistake

Mistakes can cost you a lot, especially in the cryptocurrency world
05 March 2018   641

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.

Top-3 Ongoing ICO 10th - 16th June

Let’s check which ongoing ICOs from 10th to 16th June are considered the best among our readers
18 June 2018   330

Our readers are dedicated cryptocurrency enthusiasts and fans of blockchain technology. We provide them with the ability to express their opinion regularly. Let’s check top three upcoming ICO according to our readers.

1. Hydrominer 

H3O will be the first security token with a capital market prospectus according to European financial law and a completely new model in the way investors will be able to profit from the mining process. The H3O token is the next best thing to a share in the company. In the event of an IPO the token underlying will be exchanged from a participatory right to a share in the company. In the presale you will be able to obtain H3O at a bonus of 42.8% The total supply is 7 Mio USD in the presale. In order to be compliant with this security token there are different rules for each country, there are different minimum investment requirements as well as KYC requirements.

At the moment, there's no info on the Hydrominer's raised funds.

2. Alehub 

The main aim of ALE - is to engage the technologies of decentralized applications for project management automation. It allows performing the search of works contractors and other labor force in the legal field. That is why we have created ALE – the platform to implement project management decentralized services, with a blockchain as a central element in it. One of the main ALE features - is to support multilateral smart contracts. By means of them, or, to be exact, due to the possibility to automatically administrate the relationship of the parties, the confiding environment is guaranteed. As for now, ALE is mirrored to Ethereum network in order to provide liquidity and to easier exchange listings. ALE is a security token, that grants a right for a share of ALE system profit.

At the moment, there's no info on the Alehub's raised funds.

3. Alethena

Alethena is the first Swiss Blockchain-Asset rating agency. Reliable due diligence and a resulting rating are established by providing a professional, transparent and in-depth methodology. Proudly transferring the values of its Swiss heritage, Alethena sets itself the highest standards of neutrality and independence. A scalable and decentralised methodology is the definite goals to be achieved with A.I. and Machine Learning in the near future.

Alethena
Alethena

At the moment, Alethena raised CHF 574'932 during ICO.

Check the updated Top Ongoing ICO article and take part in new poll!