Author

Topic: Token been sent to 0x0000000000000000000000000000000000000000 (Read 426 times)

legendary
Activity: 2030
Merit: 1189
That's the Ethereum burn address.

It's essentially an address which nobody has the private keys to, and is used to burn tokens or ethereum, reducing the circulating supply.

Some ERC20 smart contracts have a function that will automatically burn tokens at fixed period, potentially forcing holders to perform a mainnet swap when the option is available.

It also stops testnet tokens being traded when the new mainnet coin is out. Overall, whatever was sent isn't coming back out.
sr. member
Activity: 952
Merit: 253
It is a burning token address, we think that nobody generates a private key from the address because it is highly unlikely, but only imagine what would happen if you were the lucky one.  Cheesy
This problem has already fixed and the gold has been making it automatically sent to the burning address. It's similar to a tax that has already applied to the holders too.
I think we can't discuss it again anymore.
full member
Activity: 954
Merit: 104
ludenaprotocol.io
It is a burning token address, we think that nobody generates a private key from the address because it is highly unlikely, but only imagine what would happen if you were the lucky one.  Cheesy
member
Activity: 90
Merit: 10

I'd say that it's probably some sort of bonus to attract exchanges into listing GOLD. And this would mean that GOLD team would pay the storage fess for the involved GOLD from their pockets / revenues.
So that's how it is. But from the exchange's viewpoint, they receive nothing other than GOLD holders keep their balance on exchange for free of fees. This also leads to the exchange become an attractive target for hacking since hackers know there are a bunch of GOLD balances stay there.
legendary
Activity: 3668
Merit: 6382
Looking for campaign manager? Contact icopress!
If I remember correctly, GOLD team did said something about there must be an upkeep fee for GOLD holders but why keeping GOLD on an exchange don't invoke this fee tho? So how the exchange would pay for our GOLD upkeep?

I'd say that it's probably some sort of bonus to attract exchanges into listing GOLD. And this would mean that GOLD team would pay the storage fess for the involved GOLD from their pockets / revenues.
member
Activity: 462
Merit: 10
The steps you have to do is check your wallet, you can ask family, friends, girlfriends who have used your wallet, if they never open your wallet, you better empty your wallet by sending a token in the old wallet to a new wallet, to anticipate it will never happen again.
sr. member
Activity: 1176
Merit: 265
It was probably sent by a smart contract to the burning address.  Wink But, I thought that it is not possible to send it from the wallet you don´t have a private key, I thought that you can burn only tokens that are in your wallet from which you have a private key.
member
Activity: 224
Merit: 10
It has not happened to me, but someone has an access to my account which she/he would send valuablle tokens to an specific eth address without my knowledge that is why I shifted to another wallet address account. Actually to of my eth wallets add have been already compromised (myetherwallet and Imtoken) that is why now I am using TrustWallet. If you don't lose any assets in your account maybe it was just a bug or something cause I don't think that there is such a wallet address.
member
Activity: 2044
Merit: 16
I also never experienced that sending to that address. Is that address that sent to burn tokens or something?  Hoping your private keys are not compromised by other people or else it's game over. Maybe you should contact GOLD support to have a clarifications on what on earth happened to your tokens and only them can give you explanation to that sir.  Hoping it will be solve as soon as possible.
member
Activity: 90
Merit: 10
Have you ever experience that your token or coin are sent to 0x0000000000000000000000000000000000000000
address without your knowledge?

As a promoter of GOLD token, you should have done your homework better.
@Bttzed03 has posted the relevant things and indeed, it's the daily fee you pay for the storage of the actual gold and it's probably coded in the contract of the token and done automatically. So don't worry, nobody is accessing your key.

I would add that exchanges don't pay this fee so if you want to HOLD and don't want to pay the fee, you can take the risk of keeping the tokens at an exchange.
If I remember correctly, GOLD team did said something about there must be an upkeep fee for GOLD holders but why keeping GOLD on an exchange don't invoke this fee tho? So how the exchange would pay for our GOLD upkeep?
full member
Activity: 1750
Merit: 118
OP that wallet address is not an active ethereum address, whatever coins that was sent to such address can't ever be recovered again, I suggest you stop using that wallet and get another, maybe someone already had access to your key, who knows?

obviously not a correct eth/token address  .

also i dont think someone control his account because he said he was done who done the transaction but let say it was hacked , what will be the purpose of hacker sending the coins on that address .

just to make harm from the users  ?  this is why i always check carefull before i copy , paste and send if the address were correct and not different .
full member
Activity: 952
Merit: 110
OP that wallet address is not an active ethereum address, whatever coins that was sent to such address can't ever be recovered again, I suggest you stop using that wallet and get another, maybe someone already had access to your key, who knows?
hero member
Activity: 1302
Merit: 577
avatar and signature space for rent !!!

From the look of things, no one had access to your account because if the account is under the influence of someone else the person would have moved all assets but that wasn't the case. Therefore I think it might be from that particular token, maybe there is smart contracts settings which makes sure any transaction you carry out leads to burning of a certain amount of the token therefore reducing supply; the address is mostly used for burning tokens. I also suggest you ask the team if there is anything like such.
Yes, these address is use as burning many tokens supply and you can find many different tokens send to that address.


The Op problem is why is this tokens sended to that address without his knowledge  , the only persons who can answer this I guess is the project owner .

Two things some one have access to your keys or this is part of the tokens settings when they make it.
member
Activity: 756
Merit: 14
Have you ever experience that your token or coin are sent to 0x0000000000000000000000000000000000000000
address without your knowledge?
In my experience someone maybe inside my etherwallet have move my token to this address,
i mean whose fault is this, but my other coins where not even touch,
here is the image,


In some post i saw people posting that they accidentally sent it to an empty address
but in my case i never open my account, have this happen to anyone?
what are are the precautions you have done
Let's accept the fact that someone had access to your wallet but that address the token was sent to is not real, no one owns that address backup or key, I've seen projects that sent tokens to such address to limit their tokens max supply
copper member
Activity: 966
Merit: 14

From the look of things, no one had access to your account because if the account is under the influence of someone else the person would have moved all assets but that wasn't the case. Therefore I think it might be from that particular token, maybe there is smart contracts settings which makes sure any transaction you carry out leads to burning of a certain amount of the token therefore reducing supply; the address is mostly used for burning tokens. I also suggest you ask the team if there is anything like such.
hero member
Activity: 3150
Merit: 636
DGbet.fun - Crypto Sportsbook
it's best to ask the devs themselves regarding this so that it will resolve your worry.
They said that its a tax or something per day, the bad thing to me is that I dont see the coin in my wallet but if you look in my etherscsn you will see the coin,  there so if this goes on until the next month its keep on burning , everyday since I can't convert it, already talk to them im just waiting for the reply
Ok, so this solves the question why there's something like that happens out of your control.

Now, it's time for them to give you the assurance that you will have the peace of mind and there's must be a resolution to this problem that's existing on your wallet. I also suggest you to close this for the meanwhile and wait until they give you the next answer.
legendary
Activity: 2114
Merit: 1150
https://bitcoincleanup.com/
~
That doesn't make sense if the fees should be applied on a daily basis. It's unfair to the token holders.
Well, it's pretty clear in the WP that they will charge 1% annually which the OP failed to read. It seems he also refuses to believe the references I've already posted judging by how he is still waiting for confirmation and why he isn't locking the thread yet.

Whether it's unfair or not is another matter, I have a good grasp of why they do that but I won't speak for the team. you can question them directly or you can also read the WP.
legendary
Activity: 3668
Merit: 6382
Looking for campaign manager? Contact icopress!
That doesn't make sense if the fees should be applied on a daily basis. It's unfair to the token holders.

This may be debatable. Indeed, for a small investor this may look bad/unfair (although in theory the price of gold should rise enough vs fiat to cover this), the gold has to be stored somewhere and that storage costs money.
For a big investor it is clearly a good business because he will not have to care about the storage and insurance.

Of course, they may have been able to find another ways to gather money (fees?) to cover these costs, but ... isn't the holders who cause the bigger amounts of gold need to be stored? Wouldn't be even more unfair to increase various transaction/transfer fees (on which they also have less control)?

The more interesting part is that exchanges are excepted from this fee rule, but I would not entrust exchanges for long-term holding my assets.


Do you read post above you?
~
@OP I think its been overlong discussion already and many just using your thread to spam and keep repeating same response. Might locked the thread already.

Indeed, the increasing number of very low quality "answers" from people not reading/following the thread and the fact the original question was already answered properly indicates that the thread should be locked.
sr. member
Activity: 1498
Merit: 326
Vave.com - Crypto Casino
Are you sure you didn't do this? Because only private key holders can move tokens to other addresses. You need to double check your security as I suspect that your private key has been stolen and you may need to change to a new address to keep this situation from happening
Do you read post above you?
https://bitcointalksearch.org/topic/m.53828218 this post has answered all OP confusion.

If you read this then you understand why there is need a payment or automatic deployment of fees on his address.


Dear akirasendo17,

Answered you in PM. This is a daily fee for holding gold token. The contract automatically take it from your wallet. https://gold.storage/en/fee

Regards,
Support Team @ Digital Gold
https://gold.storage
well I think your problem has been answered directly by the official team of gold stable coin.

Also it is indeed followed up by the team that there is a daily fee for holding their gold tokens. Now its up to OP to decided either sell it or not cause there is provision to what Gold Project stated.

@OP I think its been overlong discussion already and many just using your thread to spam and keep repeating same response. Might locked the thread already.
legendary
Activity: 3276
Merit: 1029
Leading Crypto Sports Betting & Casino Platform
they never know my keys , have someone experience this in gold campaign?
I have ever experienced with this thing and you should audit the contract code that already published by the gold storage. I just think if there might be a backdoor that has already put by the team to control the token even if that address owned by another person.
As far as i know, if bancor was doing the same thing and the team of bancor has been also putting the backdoor to control the holder's token. The team can send, burn or even freeze my token in my wallet. I just hope if someone can audit smartcontract of gold and i believe there was a backdoor that has already created by the team.


If you read what @CryptopreneurBrainboss said, the next logical thing to do is to either asked the team directly or simply visit the whitepaper of gold token. They actually charge Gold holders of what they call as "service cost"

To make the project sustainable, a service cost has been implemented. As such,
GOLD token users can expect to have a small percentage of their holdings
charged on a daily basis
. It is important to consider that the service cost is
designed to be either comparable, or lower than the fees associated with storing
gold at a depository or bank. Users can expect to pay a 0.99% annual storage fee.


Here's another one from the website:
Unlike cryptocurrencies pegged to US Dollar, Euro or other FIAT-currencies, your GOLD tokens cannot be expropriated or frozen while physical gold is held in a secure vault in a jurisdiction with strong property rights.. No hidden fees, free transactions between users and the lowest annual storage fee of 0.99% (0.0027% per day). Yearly storage fee is automatically charged from token holder's wallet by GOLD secure and audited smart-contract, based on Ethereum network, on daily basis.

If you don't want to have these charges, don't be a holder. Sell it.



Note that this does not apply on other tokens so don't expect others who doesn't have a Gold token to have a similar experience. Unless they hold tokens that were coded similar to Gold.

I think it's time to lock the thread.

That doesn't make sense if the fees should be applied on a daily basis. It's unfair to the token holders.
hero member
Activity: 2926
Merit: 567
they never know my keys , have someone experience this in gold campaign?

If there are some unauthorized transaction then it's better to do the right thing and that is to transfer all your coins to a fresh and newly created wallet, it's better to do action than be sorry later, it never happened to me but if I had that experience I'll take action right away.
sr. member
Activity: 1036
Merit: 329

> snip <
i think you still need to add the contract address since as you said that you already seen it in etherscan. this means that the balance is already there its just hiding because you still not added  the contract address on your wallet.
If its true that its always deduct you a tax fee daily you should sell that now before it will drain your wallet.
hero member
Activity: 2184
Merit: 599
Have you ever experience that your token or coin are sent to 0x0000000000000000000000000000000000000000
address without your knowledge?
In my experience someone maybe inside my etherwallet have move my token to this address,
i mean whose fault is this, but my other coins where not even touch,
here is the image,


In some post i saw people posting that they accidentally sent it to an empty address
but in my case i never open my account, have this happen to anyone?
what are are the precautions you have done
I have never experienced this, but in your case if there really is someone accessing your account, why are only a few of your tokens sent? why not everything? Have you ever thought it could happen because the smart contract of the token has been arranged to make it that way
sr. member
Activity: 1638
Merit: 260
Trphy.io
I have been using myetherwallet for a long time and I have never experienced like what you said. maybe I think the main cause is that your private key has been known by someone and without your knowledge your token has been taken or transferred to another wallet. private key is the heart of myetherwallet or maybe all wallet so save your private key from a hacker.
sr. member
Activity: 1106
Merit: 310
Are you sure you didn't do this?
He's sure about it, he mentioned that he has never done anything like this. Well, this is a smart contract and I think there must be something that has been programmed which will automatically send an amount to that address for burning.

It has been explained by Cryptopreneurboss so that might be one explanation for it. But, it's best to ask the devs themselves regarding this so that it will resolve your worry.
They said that its a tax or something per day, the bad thing to me is that I dont see the coin in my wallet but if you look in my etherscsn you will see the coin,  there so if this goes on until the next month its keep on burning , everyday since I can't convert it, already talk to them im just waiting for the reply
hero member
Activity: 3150
Merit: 636
DGbet.fun - Crypto Sportsbook
Are you sure you didn't do this?
He's sure about it, he mentioned that he has never done anything like this. Well, this is a smart contract and I think there must be something that has been programmed which will automatically send an amount to that address for burning.

It has been explained by Cryptopreneurboss so that might be one explanation for it. But, it's best to ask the devs themselves regarding this so that it will resolve your worry.
member
Activity: 854
Merit: 10
Are you sure you didn't do this? Because only private key holders can move tokens to other addresses. You need to double check your security as I suspect that your private key has been stolen and you may need to change to a new address to keep this situation from happening
no, i wont burn my token they have not get back to me yet waiting for confirmation

If he has not got back to you, you could have pm him, perhaps his attention would be drawn to that, as to provide an accurate answer to it. However, I believe that the answers are given by those who have participated in the campaign and have experienced the same, such as CryptopreneurBoss. This is an indication that it is not an abnormal experience, so there is no cause for alarm. it is still a smart contract doing what it has been programmed to do.
sr. member
Activity: 1106
Merit: 310
Are you sure you didn't do this? Because only private key holders can move tokens to other addresses. You need to double check your security as I suspect that your private key has been stolen and you may need to change to a new address to keep this situation from happening
no, i wont burn my token they have not get back to me yet waiting for confirmation
member
Activity: 98
Merit: 10
I have never experienced anything like that but the experience I met when we sent 0 ETH to get a token and it could be very profitable because I only pay for the transfer fee
hero member
Activity: 938
Merit: 501
Are you sure you didn't do this? Because only private key holders can move tokens to other addresses. You need to double check your security as I suspect that your private key has been stolen and you may need to change to a new address to keep this situation from happening
hero member
Activity: 1361
Merit: 506
This address represents an address without private key, respectively there is almost zero change that private key for this address will be generated. So it is a food address when you would like to reduce the token supply - you burn the tokens. But the question is if smart contract owner can do that without your knowledge.
legendary
Activity: 3668
Merit: 6382
Looking for campaign manager? Contact icopress!
Have you ever experience that your token or coin are sent to 0x0000000000000000000000000000000000000000
address without your knowledge?

As a promoter of GOLD token, you should have done your homework better.
@Bttzed03 has posted the relevant things and indeed, it's the daily fee you pay for the storage of the actual gold and it's probably coded in the contract of the token and done automatically. So don't worry, nobody is accessing your key.

I would add that exchanges don't pay this fee so if you want to HOLD and don't want to pay the fee, you can take the risk of keeping the tokens at an exchange.
hero member
Activity: 2464
Merit: 550
Leading Crypto Sports Betting & Casino Platform
Have you ever experience that your token or coin are sent to 0x0000000000000000000000000000000000000000
address without your knowledge?
In my experience someone maybe inside my etherwallet have move my token to this address,
i mean whose fault is this, but my other coins where not even touch,
here is the image,


In some post i saw people posting that they accidentally sent it to an empty address
but in my case i never open my account, have this happen to anyone?
what are are the precautions you have done
I also have never experienced such a problem because if some of your tokens suddenly come out and move to another wallet then someone might know your private key or know how to access your wallet.

and all I know is a wallet with the number 0 with a lot like that is just a wallet that is usually used to burn supplies because no one can access the wallet.


Dear akirasendo17,

Answered you in PM. This is a daily fee for holding gold token. The contract automatically take it from your wallet. https://gold.storage/en/fee

Regards,
Support Team @ Digital Gold
https://gold.storage
well I think your problem has been answered directly by the official team of gold stable coin.
legendary
Activity: 2114
Merit: 1150
https://bitcoincleanup.com/
If you read what @CryptopreneurBrainboss said, the next logical thing to do is to either asked the team directly or simply visit the whitepaper of gold token. They actually charge Gold holders of what they call as "service cost"

To make the project sustainable, a service cost has been implemented. As such,
GOLD token users can expect to have a small percentage of their holdings
charged on a daily basis
. It is important to consider that the service cost is
designed to be either comparable, or lower than the fees associated with storing
gold at a depository or bank. Users can expect to pay a 0.99% annual storage fee.


Here's another one from the website:
Unlike cryptocurrencies pegged to US Dollar, Euro or other FIAT-currencies, your GOLD tokens cannot be expropriated or frozen while physical gold is held in a secure vault in a jurisdiction with strong property rights.. No hidden fees, free transactions between users and the lowest annual storage fee of 0.99% (0.0027% per day). Yearly storage fee is automatically charged from token holder's wallet by GOLD secure and audited smart-contract, based on Ethereum network, on daily basis.

If you don't want to have these charges, don't be a holder. Sell it.



Note that this does not apply on other tokens so don't expect others who doesn't have a Gold token to have a similar experience. Unless they hold tokens that were coded similar to Gold.

I think it's time to lock the thread.
member
Activity: 490
Merit: 19
I'm a bit confused too but something is damn sure about that Ethereum address, its non exist address like those address that projects used to burn tokens by sending an amount to the address and they can't be recovered ever again
sr. member
Activity: 1106
Merit: 310
Do you remove the token from your own token or do you see the GOLD smart contract?
I think this does not happen to anyone including me even I am always connected to the internet but still there are no complaints that the tokens were sent by themselves.
May I see your wallet?
Does this happen every day?

This the first time , that has happen to me, i already contact the campaign manager hoping that it resolves the issue
hero member
Activity: 2856
Merit: 644
https://duelbits.com/
Do you remove the token from your own token or do you see the GOLD smart contract?
I think this does not happen to anyone including me even I am always connected to the internet but still there are no complaints that the tokens were sent by themselves.
May I see your wallet?
Does this happen every day?
hero member
Activity: 1764
Merit: 696
[Nope]No hype delivers more than hope
this can only be done when you have access to oyur wallet and other possibilities, you're using a wallet that uses this address as the default destination address when the user leaves it empty.
sr. member
Activity: 644
Merit: 257
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The address this tokens are sent to is known for holding tokens that are meant to be burned. Therefore I presume it's a strategy deployed by Gold stablecoin to keep the supply low by constantly burning 0.001 Gold every day from all their token holders that's to constantly reduce the supply of Gold token.

This is the answer on your query OP.

 So meaning these tokens payment of gold on your addresess are purposedly for burning their supply? However is this really possible? I mean could they set the smart contract to self deployed to a burning address? This is new to me. I didnt know they can still move coins from other's wallet even though the tokens stored already on a custodial wallet which the owner keeps its keys.

But if that's possible they shouldnt send a payment for bounty to their participants coming from a supposedly burn allocated tokens which will decrease the rewards of their participants.
legendary
Activity: 2394
Merit: 1049
Smart is not enough, there must be skills
I have been using the Eitherwallet wallet for a long time, but there have been no problems up to now. I have always used Myetherwallet to send tokens or both.
Do you use an application such as another wallet so that you can operate on your own? this should be prevented immediately fortunately that sent not much just a little, my advice is never to import PK into the wallet storage application or it could be your fault.
Correction again.
sr. member
Activity: 1176
Merit: 301
Have you ever experience that your token or coin are sent to 0x0000000000000000000000000000000000000000
address without your knowledge?
In my experience someone maybe inside my etherwallet have move my token to this address,
i mean whose fault is this, but my other coins where not even touch,
here is the image,


In some post i saw people posting that they accidentally sent it to an empty address
but in my case i never open my account, have this happen to anyone?
what are are the precautions you have done
I have been part of GOLD signature campaign and if I am not mistaken they already explain it to every GOLD holders.
I haven't paid attention about it but it was something about to keep the demand or something maybe you should just read it on their thread,Telegram.
And even if your wallet doesn't have GOLD you would still see some transaction about gold being sent from your wallet to that address.
legendary
Activity: 2408
Merit: 4282
eXch.cx - Automatic crypto Swap Exchange.
I have participated in Gold stablecoin signature campaign for quite some number of months and irrespective of me moving my tokens out of the wallet immediately it get a monthly payment or keep it for some number of days, I still get a withdrawal (OUT) transaction the next day, just as it displays in the image on the OP.

The address this tokens are sent to is known for holding tokens that are meant to be burned. Therefore I presume it's a strategy deployed by Gold stablecoin to keep the supply low by constantly burning 0.001 Gold every day from all their token holders that's to constantly reduce the supply of Gold token. If your Gold token balance is 0 you only get a OUT transaction of 0 Gold token in 24hrs but if you have some amount of Gold token in your wallet you get a reduction of 0.001 Gold token daily.

Ps: it's best you direct you question to their announcement thread to get a more accurate and reliable response from the token developers themselves.  Also this isn't the only project using this strategy to burn their supply of token, I have held several alt that did the same.
full member
Activity: 2142
Merit: 183
Have you ever experience that your token or coin are sent to 0x0000000000000000000000000000000000000000
address without your knowledge?
In my experience someone maybe inside my etherwallet have move my token to this address,
i mean whose fault is this, but my other coins where not even touch,
here is the image,


In some post i saw people posting that they accidentally sent it to an empty address
but in my case i never open my account, have this happen to anyone?
what are are the precautions you have done
It never happened to me for more than six years that I am using myetherwallet, it will be best if you will double check your private details especially your private keys because there is a big chance that someone has your private keys and do the transaction.

You can ask your families,friends or anyone that you know that can access your computer,cellphone or your gadgets where your private keys are sitting. Sending to that kind of address is like burning the tokens, that what I saw when some of the project owners burn their unsold tokens.
Yes, these are very strange transactions. This is completely unlike a wallet hack. If someone had taken possession of the private key from this wallet, he would not have withdrawn 0.001 coins, but immediately the entire number of coins in the wallet. This is similar to some unexplained failures, because the withdrawals are very small.
sr. member
Activity: 1652
Merit: 262
I have never experienced that, maybe it would be a bad thing. do you often open wallet in a normal browser and not delete the history? I think it's also quite vulnerable besides securing the keystore and private key. so there are some people who suggest to enter incognito mode when accessing the wallet so that our history is not recorded online.
sr. member
Activity: 1106
Merit: 310
they never know my keys , have someone experience this in gold campaign?
hero member
Activity: 1932
Merit: 506
Betking.io - Best Bitcoin Casino
Have you ever experience that your token or coin are sent to 0x0000000000000000000000000000000000000000
address without your knowledge?
In my experience someone maybe inside my etherwallet have move my token to this address,
i mean whose fault is this, but my other coins where not even touch,
here is the image,


In some post i saw people posting that they accidentally sent it to an empty address
but in my case i never open my account, have this happen to anyone?
what are are the precautions you have done
It never happened to me for more than six years that I am using myetherwallet, it will be best if you will double check your private details especially your private keys because there is a big chance that someone has your private keys and do the transaction.

You can ask your families,friends or anyone that you know that can access your computer,cellphone or your gadgets where your private keys are sitting. Sending to that kind of address is like burning the tokens, that what I saw when some of the project owners burn their unsold tokens.
sr. member
Activity: 1106
Merit: 310
Have you ever experience that your token or coin are sent to 0x0000000000000000000000000000000000000000
address without your knowledge?
In my experience someone maybe inside my etherwallet have move my token to this address,
i mean whose fault is this, but my other coins where not even touch,
here is the image,


In some post i saw people posting that they accidentally sent it to an empty address
but in my case i never open my account, have this happen to anyone?
what are are the precautions you have done
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