According to Charles Hoskinson, it would not have occurred on some architectures that are inherently more resilient to errors of this nature. This is how it came about. Another reason UTXO is awesome. Shortly after the money was taken out of Binance, the victim’s wallet, which had been active for about two years and was mostly used for USDT transfers, received close to $50 million.
The user sent a brief test transaction to the intended recipient, which is what many would consider safe behavior. The full amount was sent a few minutes later. The incorrect address was used for that second transfer. This is another reason UTXO is awesome, Hoskinson said in response to the incident.
He is not wrong. Although it is probably going to be moved or exchanged, the stolen USDT is currently still at the destination address. The account-based model that Ethereum and many other EVM chains employ directly leads to this type of scam. Addresses are displayed as free-form strings in transaction history, and wallets promote copying from previous exchanges.
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