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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Cloudflare Accuses Perplexity AI of Using Stealth Crawlers to Evade Website Blocks

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    CryptoPunks and Pudgy Penguins Draw Major Sales

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    Ethereum Collections Lead NFT Sales Today

    Ethereum Collections Lead NFT Sales Today

    how NFTs became a global brand and a Web3 “social currency”

    how NFTs became a global brand and a Web3 “social currency”

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Labubus have succeeded in every way that NFTs have failed

    Labubus have succeeded in every way that NFTs have failed

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    CryptoPunks Floor Price Hits 3-Year High of $208,000

    NFT sales surge to $574 million in July, second-highest in 2025

    NFT sales surge to $574 million in July, second-highest in 2025

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    Cracking China’s Blockchain Gaming Market: Why Shrapnel Chose GalaChain

    Shrapnel to Leave Avalanche in New Partnership with Gala Games

    Shrapnel to Leave Avalanche in New Partnership with Gala Games

    Google to Pit Top AI Models Against Each Other in Live Chess Tournament

    Google to Pit Top AI Models Against Each Other in Live Chess Tournament

    Blockchain Bookmakers: A New Era of Fair and Secure

    Blockchain Bookmakers: A New Era of Fair and Secure

    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

    The Biggest Games Releasing in August 2025

    The Biggest Games Releasing in August 2025

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    TaskOn Joins EPHYRA to Elevate AI-Powered Gaming Experience

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

    Early Off the Grid Skin Holders Are Cashing In – Will You?

    Early Off the Grid Skin Holders Are Cashing In – Will You?

  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    SoonVerse Partners with Arris to Enhance User Experience

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    UAE emirate launches new free zone for digital assets, Web3 and AI

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    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

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    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    What Is Copy Trading in Crypto? A Beginner’s Guide

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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Home Blockchain

Vitalik Buterin Has Over $1 Million Stuck in the Optimism Bridge

April 24, 2024
in Blockchain
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Vitalik Buterin Has Over $1 Million Stuck in the Optimism Bridge
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Vitalik Buterin, the co-founder of Ethereum, reportedly has over $1 million trapped in the Optimism bridge.

READ ALSO

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

This revelation comes from a broader examination by Arkham, a blockchain intelligence firm, which disclosed that numerous crypto addresses have substantial amounts lodged in bridge contracts across different networks.

Cross-Chain Challenges: Ethereum Wallets Grapple With Locked Assets

A wallet address that received 50 Ethereum (ETH) from Buterin’s identifiable Ethereum Name Service (ENS) address vitalik.eth, has seen $1.05 immobile for the past seven months. If genuinely linked to Buterin, these funds represent merely a sliver of his vast $781 million cryptocurrency holdings.

Arkham’s investigation revealed that numerous crypto addresses have substantial sums similarly locked in bridge contracts. These include addresses linked to major entities like crypto exchange Coinbase and several DeFi whales.

For example, a wallet associated with Bofur Capital has $1.8 million in wrapped Bitcoin (WBTC) stuck in the Arbitrum bridge for 27 months.

“Bofur Capital’s 27 Bitcoin has been sitting in the Arbitrum bridge for over two years now, and is now worth almost $2 million,” Arkham said.

Read more: How To Use Arbitrum Bridge To Bridge Ethereum Tokens

Bofur Capital’s Transaction of 27 Bitcoin. Source: Arkham

Furthermore, Thomasg.eth, the pseudonymous founder behind the decentralized air transportation solution Arrow, has $800,000 in ETH immobile in the same bridge.

Moreover, Coinbase attempted to bridge $75,000 in USD Coin (USDC) to Ethereum six months ago via the Optimism bridge. Despite the successful transfer, these funds have not been retrieved on Ethereum’s foundational layer. This situation hints at either an overlooked recovery process or a deliberate pause in claiming the transferred assets.

See also  Depins Enable Companies to 'Bootstrap the Deployment Stage'

Cross-chain bridges like Optimism are crucial in blockchain networks like Ethereum. Bridges facilitate the movement of assets across distinct blockchains without needing a central authority, aiming to solve interoperability issues inherent in blockchain architectures.

The situations involving Buterin and others illustrate the complexities and risks of managing funds across decentralized platforms. There is a chance that the owners of these wallets may have intentionally left their assets within these bridges. Nonetheless, the potential for these funds to be stuck due to technical issues cannot be disregarded.

Read more: How To Use the Polygon Bridge: A Step-by-Step Guide

Also, these bridges come with significant security risks. They have become focal points for cyber-attacks, with billions of dollars lost in recent years.

Notable security breaches include the $650 million Ronin bridge hack by North Korea’s Lazarus Group and the $100 million theft from the Harmony Horizon Bridge, highlighting the vulnerability of these crucial network junctures.

Tags: BridgeButerinmillionOptimismstuckVitalik

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