Saturday, January 23, 2021
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A User Lost 4,005 LINK After Sending Them To Smart Contract Belonging To Defi Game Aavegotchi

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The user sent 4,005 LINK worth about $52,800 to a smart contract of Aavegotchi game contract that does not support Link. The tokens are irrevocable lost, and are gone forever.

According to Github’s article, a user mistakenly sent LINK tokens to a smart contract belonging to the Defi game Aavegotchi. The contract does not support these tokens, so they are lost forever.¬†

User Dawid (@d13kabani), a father of two and aavegotchi enthusiast made the mistake that every cryptocurrency user fears the most, Aavegotchi developer pixel craft studios confirmed.

According to the article, the user mistakenly sent most of his cryptocurrency savings to a GHST staking contract that he had previously interacted with instead of depositing them on Binance. The developers added that since it is impossible to cancel such action in cryptocurrencies, user LINK coins are permanently stuck in an immutable GHST contract.

However, the Aavegotchi project decided to help the user by creating a unique santagotchi wallet so that other cryptocurrency enthusiasts can donate money to the victim. At Christmas, Aavegotchi will transfer all donations to the affected user.

Developer Nick Mudge explained that the ERC-20 Ethereum standard is vulnerable to such errors.

This is a problem of the ERC-20 standard. It does not allow you to check whether a contract can accept specific tokens. Mudge said.

He cited two proposals for improving Ethereum ERC20 tokens. ERC-777 and ERC-223. The first prevents the address from receiving assets that it does not support. The second is compatible with the ERC-20 standard and was specifically created to avoid users from losing money due to errors.

Such mistakes happen quite often. In October, a user lost 28,050 AAVE after sending them to the token’s smart contract address.

Read Complete Story Of A Poor DAD on Github

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Ammara
Ammarahttps://thecryptobasic.com/
I am the editor-in-chief of The Crypto Basic. Love to get involved in cryptocurrencies. I am in crypto since 2014. I like the way blockchain is progression, being adopted by large firms and in most parts of our lives. We are early adopters and followers of blockchain, and time will surely come when our success factor will be blockchain.

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