Cryptocurrency may be the latest trend in the digital economy, however as a major blockchain company has demonstrated, one wrong piece of coding can cost you millions. JUNO, a premier crypto wallet service that touts as many as 3.4 million users worldwide, recently voted to repossess the tokens purchased by a customer after it was discovered that the funds were based on illegitimate means. The transaction seemingly went off without a hitch until it was discovered that a typo sent the entire plan came crashing down.
A developer, who was in charge of submitting the exact wallet address to where the crypto coins were to be stored, had made a typographical error, costing the company $36 million in coins. According to reports, the error was made during the beginning of the process,where the wallet address was mistakenly substituted for a transaction hash,which rendered it essentially bricked. However,out of the hundreds of validators, who are tasked with wallet authentication, the issue went unnoticed. The loss represents roughly 33% of total amount repossessed equaling $120 million. The tokens operate under a platform of the same name are expected to last just over a decade as they make their stake in the online world of Web 3.0.
