Representatives of the Gitcoin platform for crypto developers admitted losing 521,440 GTC worth about $460,000 after an erroneous transfer to a non-recoverable contract address.<\/p>\n
The project lead under the pseudonym CoachJonathan posted<\/a> details of the incident on the forum. According to him, the GTC transaction from the treasury was intended for “merch, memes and a marketing budget”.<\/p>\n However the assets were sent not to the multisig address, but to the token contract. As a result, the funds are stuck with no way to recover.<\/p>\n “Major token holders and multisig signatories must exercise particular caution when dealing with funds that do not belong to them (including me),” emphasized CoachJonathan.<\/p>\n<\/blockquote>\n A Gitcoin representative apologized to the community and pledged not to repeat such situations in the future.<\/p>\n To prevent a repeat of the incident, the Gitcoin team proposed strengthening security measures and appointing clear accountability in case of future mistakes.<\/p>\n Back in February, NFT collector Brandon Riley accidentally sent<\/a> CryptoPunk #685 to a burn address. He purchased the token for 77 ETH \u2014 roughly $129,000 at the time.<\/p>\n In June, a group of Bitcoin enthusiasts already deliberately destroyed CryptoPunk #8611<\/a> worth $94,000. Later, on the basis of the token, the inscription Ordinals<\/a> appeared.<\/p>\n\n