An Early User of Ethereum Name Service Reclaims Millions of Dollars Worth of Ether
An early user of the Ethereum Name Service (ENS) has just reclaimed tens of thousands of Ether (ETH) that had been locked up in the old ENS registrar over 4 years ago. The value of the 39,712 ETH is now worth roughly $74 million. The user responsible for reclaiming the funds is darkmarket.eth, who was the largest owner of locked Ether within the old registrar until now.
Key Points:
– The user darkmarket.eth reclaimed 39,712 ETH ($74.17 million) that had been locked in the ENS auction over 4 years ago.
– After reclaiming the funds, the user transferred 63,734 ETH ($119 million) to a new wallet.
– ENS allows crypto users to assign human-readable names to cryptocurrency addresses, making them easier to remember.
– The Ethereum Foundation held an auction in 2017 for users to bid their ETH and secure unique domain names.
– In July 2019, the ENS smart contract was updated, allowing users to reclaim their locked ETH without forfeiting their domain.
According to ENS lead developer Nick Johnson, there are still over 100k domains for which deeds remain unclaimed, holding “tens of thousands of ETH.” This highlights the importance of regularly checking and claiming any locked funds or assets.
Hot Take: Taking Advantage of Unclaimed Funds
The recent reclaiming of millions of dollars worth of Ether by darkmarket.eth serves as a reminder to crypto users to regularly check and claim any locked funds. With the potential for substantial appreciation in value over time, it is essential to stay informed and take advantage of any opportunities to reclaim funds that may have been forgotten or overlooked. By doing so, you can potentially unlock significant wealth in the crypto space.
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