A careless cryptocurrency user just lost $25 million after sending Renzo restaked ether tokens to their safe module-a restricted holding account-instead of their safe wallet-a primary wallet that allows full access to funds.
The crypto user, under the twitter handle name of 我有一个狗王梦 said that he was attempting to use a bot to withdraw from the liquid restaking paltform Renzo, he made a simple copy-and-paste error.
He later said that such a mistake is not particularly difficult to make, but the consequences of such a simple mistake could be dire.
Had the user sent the funds to the correct safe wallet, they would have maintained control over the funds.
Because blockchain transactions are irreversible and lack a middleman to fix errors, the funds are now trapped unless someone comes up with a magical solution.
In his interview with DL News, the crypto user shares his desperation, saying that he wishes someone can help him find a bug or vulnerability in the smart contract that could help him retrieve his funds. He explained that these funds are coming out of his own pockets and they are not the company's assets.
The desperate crypto user has reached out to the internet for help, writing on his social media post that he is willing to offer a 10% reward for anyone who is able to help him retrieve his funds.
The DefiLlama founder, known Pseudonymously as Oxngmi, replied that they don't see any way for the user to get their money out other than asking Renzo to upgrade the contact, adding a function that would rescue their funds.
Although many Ethereum smart contracts are immutable and cannot be altered by their developers, Renzo's contract is designed to allow updates, which means a fix is theoretically possible.
But it seems that Renzo is unwilling to comply to its user's desperate plea, due to past experiences and stories. Back in February, a UK court ordered crypto company Oasis to retrieve funds stolen during a $322 million attack on another protocol, Wormhole, last year.
The hackers deliberately target Oasis, leveraging this legal loophole to earn a return for themselves.
For this reason, the trader, who claims to be good friends with the Renzo team, says that the Renzo team is reluctant to go through legal procedures.
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