Millions of Crypto Dollars Remain Unclaimed on Bridges, Forgotten by Owners

Crypto analytics firm Arkham Intelligence has identified numerous cases of crypto tokens worth millions of dollars languishing in bridge contracts, forgotten by their owners. These include accounts linked to DeFi and NFT players, as well as a connection to Ethereum co-founder Vitalik Buterin. Notable incidents involve a wallet with $800,000 stuck in Arbitrum's native bridge for nearly two years and another containing 27 wrapped bitcoin ($1.8 million) unclaimed for over two years. Arkham attributed the issue to the manual claiming process on native bridges, which can lead to users unintentionally neglecting their funds.

Unclaimed Crypto Riches: Millions Languish in Bridges, Unclaimed by Owners

Cryptocurrency analytics firm Arkham Intelligence has uncovered a startling revelation: millions of dollars worth of crypto tokens are reportedly lying dormant in various bridges, forgotten and unclaimed by their rightful owners.

Arkham's meticulous investigations have identified several accounts holding substantial amounts of cryptocurrency left abandoned in bridge contracts. These bridges, which serve as gateways between different blockchains, have become unwitting repositories for misplaced digital wealth.

Forgotten Fortunes: DeFi, NFT Players, and Institutional Investors Affected

Among those affected are prominent players in the decentralized finance (DeFi) and non-fungible token (NFT) spheres. Even certain established firms have inadvertently left funds astray. Astonishingly, one such connection leads directly to Ethereum co-founder Vitalik Buterin.

Notable Cases: Overlooked Millions Linger on Bridges

Arkham's report highlights several noteworthy cases involving substantial sums of cryptocurrencies left languishing on bridges.

• A wallet with the ENS name thomasg.eth has an estimated $800,000 worth of tokens stuck in the Arbitrum native bridge for nearly two years.
• An Ethereum address associated with Bofur Capital has forgotten about approximately 27 wrapped bitcoin (WBTC), valued at $1.8 million, which has been idle on the Arbitrum bridge for over two years.
• An account linked to an NFT collector known as Mike Macdonald appears to have overlooked nearly $117,000 in assets related to Cryptopunks sales on a bridge contract.

Vitalik Buterin's Unclaimed ETH

In a particularly notable case, an account that received 50 ETH from none other than Ethereum co-founder Vitalik Buterin has left those funds unclaimed in the Optimism bridge for approximately seven months. The total amount forgotten stands at around $1.05 million. "Vitalik, if you own this address, PSA: you have a million dollars of ETH in the Optimism bridge," Arkham wrote in a pointed message to Buterin.

Manual Claims and Forgotten Assets: A User Pitfall

Unlike cross-chain bridge protocols like Across and Hop, which automatically transfer funds to the recipient's wallet on the target chain, native bridges require users to manually claim their assets. If users neglect to do so, the smart contract lacks a mechanism to remind them, leading to the unfortunate scenario of lost funds.

Arkham's Warning: Reclaim Your Crypto

Arkham Intelligence urges individuals and entities involved in cryptocurrency to meticulously review their transaction histories and bridge activities. This due diligence is essential to ensure that all assets are accounted for and not languishing in unclaimed limbo.

The firm's findings serve as a stark reminder of the importance of vigilance when managing digital assets. As the decentralized finance ecosystem continues to evolve, it is imperative for users and investors to be aware of potential pitfalls and take proactive steps to protect their hard-earned crypto.