Blockchain enthusiast allegedly losses $500k by sending WETH to contract address

In a now-deleted deleted profile, an anonymous Reddit idiosyncratic allegedly mislaid adjacent to $500k connected Sunday aft sending wrapped Ether (wETH) straight into a wETH wrapping astute contract. wETH came into beingness arsenic a mode for Ether (ETH) to conform to the ERC-20 token modular truthful that it tin beryllium traded straight with altcoins minted connected the Ethereum blockchain.

To wrapper Ether, users archetypal nonstop ETH to the wETH astute declaration code and person an equivalent token successful return. However, to unwrap wETH, users indispensable either swap for ETH connected a decentralized speech similar Uniswap (UNI), oregon telephone the withdrawal relation successful the wETH astute contract. Instead, the anonymous Reddit idiosyncratic sent the wETH straight backmost into the wETH astute declaration code successful the hopes of receiving ETH back. Unfortunately for the use, this process is the equivalent of "token burning," resulting successful a irreversible nonaccomplishment of the trader's crypto.

While the user's individuality is nary longer disposable connected Reddit, the transaction still appears connected Etherscan, showing that 195.2 wETH ($501,358) was sent to the wETH astute astatine the clip of work declaration and truthful mislaid forever. Most Reddit members were sympathetic with the trader, with u/0150r writing:

"Losing a half-million dollars worthy of crypto by mistake is thing that needs to beryllium addressed earlier crypto tin go mainstream. When it's this casual to suffer everything, there's nary mode your grandma is going to beryllium utilizing it."

However, others pointed retired that the archetypal poster should person done acold much to probe the exertion earlier utilizing it, with u/jadecrystal writing:

"No, you don't request to plan the technology, but if you don't person a basal grasp of … a microwave oven, a car's starter, engine, and steering column… oregon nationalist cardinal crypto and blockchain addresses, this is what happens."