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Topic: Mistake Costs User $1.1 Million in AAVE - page 2. (Read 232 times)

hero member
Activity: 1344
Merit: 742
October 19, 2020, 09:33:55 PM
#5
We can't really avoid human error in play here. But such huge amount is wasted. If you are dealing with huge amount, try sending small amount first and see if there's no problem with your steps. I do that every time I am not familiar with the coin or token, I start sending small and if it goes thru, it means I am doing it right. Even if I am dealing with few bucks, still not worth to waste your coins for being dumb.  Wink
The loss is about $600 000 with the price of BNB is $30. The real loss can be higher or lower a little. I fully can not understand why that guy would be very careless when he sent a huge fund like that. $600 000 is a real fortune of many people around the world. Many people have never touched or won't be able to earn such money in their life-time.

I hope that guy still is fine after that loss.
sr. member
Activity: 1988
Merit: 275
October 19, 2020, 06:32:36 PM
#4
This keeps happening over and over again. A user of the decentralized finance platform AAVE mistakenly sent 28,050 AAVE tokens, worth approximately $1.1 million, to the token's contract address. There are now discussions about possibly restoring the user's funds.

https://decrypt.co/45537/user-loses-1-1-million-in-aave-due-to-mistake?amp=1
As the users and the double check is a must.

I don't think if the discussion will give a result to return the user's money. So many times this things happened. For sending a transaction with big money and we should always be careful with it.
I were always checking the addresses for more than 25 times to make sure I was putting the correct destination addresses. I doubt it the fund will be back again to its user or owner.

I remember last month's tweet of CZ asking the community what to do with the wrong coins sent. But wonder what was his final decision on that one?

https://cryptopotato.com/binance-ceo-asks-the-community-what-to-do-about-someones-20000-bnb-mistake/

We can't really avoid human error in play here. But such huge amount is wasted. If you are dealing with huge amount, try sending small amount first and see if there's no problem with your steps. I do that every time I am not familiar with the coin or token, I start sending small and if it goes thru, it means I am doing it right. Even if I am dealing with few bucks, still not worth to waste your coins for being dumb.  Wink
sr. member
Activity: 1063
Merit: 253
Sovryn - Brings DeFi to Bitcoin
October 19, 2020, 06:17:47 PM
#3
This keeps happening over and over again. A user of the decentralized finance platform AAVE mistakenly sent 28,050 AAVE tokens, worth approximately $1.1 million, to the token's contract address. There are now discussions about possibly restoring the user's funds.

https://decrypt.co/45537/user-loses-1-1-million-in-aave-due-to-mistake?amp=1
As the users and the double check is a must.

I don't think if the discussion will give a result to return the user's money. So many times this things happened. For sending a transaction with big money and we should always be careful with it.
I were always checking the addresses for more than 25 times to make sure I was putting the correct destination addresses. I doubt it the fund will be back again to its user or owner.
legendary
Activity: 2450
Merit: 1225
October 19, 2020, 05:45:25 PM
#2
Always the user's fault.

The project, platform, or creator of a smart contract freely to refuse or helping the user to take back his money but "Chase Wright" already got the points with the case like this the chance of getting back the money was pretty small.
sr. member
Activity: 1680
Merit: 379
Top Crypto Casino
October 19, 2020, 05:42:13 PM
#1
This keeps happening over and over again. A user of the decentralized finance platform AAVE mistakenly sent 28,050 AAVE tokens, worth approximately $1.1 million, to the token's contract address. There are now discussions about possibly restoring the user's funds.

https://decrypt.co/45537/user-loses-1-1-million-in-aave-due-to-mistake?amp=1
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