A crypto trader recently lost $26 million after mistakenly copying and pasting an incorrect transfer address, resulting in the funds becoming locked. The trader, known by the pseudonym “qklpjeth,” is now offering a $2.5 million reward to any white-hat hackers who can help recover the funds.
The Costly Mistake: A Wrong Copy-Paste
In June, qklpjeth accidentally transferred 7,912 tokens of restaked Ethereum (ezETH) – valued at $26.4 million at today’s prices – to a secure contract address. Instead of sending the funds to their intended safe account, the trader mistakenly transferred the assets to a “safe module,” rendering the tokens inaccessible.
Although the incident occurred five months ago, the trader only recently reached out publicly on X (formerly Twitter) after traditional recovery options were exhausted, hoping a white-hat hacker might find a vulnerability in the smart contract to unlock the funds.
The Community’s Response and Advice
Members of the crypto community quickly shared advice. Developer 0xngmi from DefiLlama recommended that qklpjeth reach out to the Renzo protocol, the organization behind the token, to modify the token contract and recover the funds. However, the trader had already contacted Renzo, which was unable to assist due to regulatory limitations.
A Call for Improved User Experience
Harrison Seletsky, director of business development at digital identity platform SPACE ID, commented that the situation underscores the need for enhanced user experience (UX) in the crypto industry. “It’s shocking that simple copy-paste errors are still costing people millions in crypto,” Seletsky remarked. He believes these types of mistakes should not be possible over a decade after the creation of Bitcoin.
Seletsky added that widespread adoption of cryptocurrency will remain challenging until users feel confident in transferring funds without the risk of irreversible errors. For many, the fear of such mistakes drives them to trust centralized entities over handling assets themselves. He emphasized that improving UX, particularly in transaction processes, is crucial for building trust and unlocking the mass adoption of crypto.
