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Over $3.4 billion worth of Ethereum has been permanently lost due to user errors and smart contract bugs, according to Coinbase director Conor Grogan. These losses account for 0.76% of Ethereum’s circulating supply, with major incidents like the Parity wallet hack and QuadrigaCX collapse contributing significantly.
- The Web3 Foundation lost 306,000 ETH due to a Parity multisig wallet vulnerability.
- QuadrigaCX and Akutars lost 60,000 ETH and 11,500 ETH, respectively, from contract flaws.
- EIP-1559's burn mechanism has destroyed over 5.3 million ETH ($23.4B), exceeding 5% of total supply.
📎 Related coverage from: cryptoslate.com