An investor sent 1 million USDT to the Swerve.Finance DeFi platform, but chose the wrong address. The funds turned out to belost forever, although Tether promised to help with the return.
The user mistakenly sent $ 1 million tostablecoin Tether to the wrong address, resulting in the loss of all coins. The funds were supposed to go to the liquidity pool of the DeFi platform Swerve.Finance, but they went directly to a smart contract, from which there is no return, Beincrypto writes.
The mechanism for sending such a transaction is similar to the responseto the no-reply email. However, in this case, instead of receiving an automatic response “failed to deliver”, the user permanently loses access to the sent funds. Cancellation of such a transaction is possible only if the smart contract allows it. Swerve.Finance does not have this feature, which is why the $ 1 million in USDT was lost forever.
Soon after the incident, CTO Tether Paolo Ardoinopromised to help with a refund. Ardoino invited the user to open an application in the company's support service and indicated that if the tokens were of the ERC-20 standard, then they can be returned. Binance exchange head Changpeng Zhao added that the exchange will work to create safeguards to avoid similar incidents in the future.
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