Man accidentally locks thousands of euros in Ethereum for 100 years

Something remarkable has happened on the Ethereum (ETH) network. A developer has created their first ERC-20 token. He thought he was working with fake Ether tokens when it was suddenly revealed that he had locked up 5 Ethereum worth more than $9,000 at the time of writing for 100 years.

Mistakes lead to millions of dollars in profits

The crypto news started on forum 4chan and then spread further Twitter. Assuming the testnet was busy, the developer created a token called TEST. There is also one to toss a coin at liquid basin necessary for the currency to be traded. The developer therefore decided to add 5 ethers and 1 billion TEST tokens as liquidity for decentralization Exchange (DEX) Uniswap. The developer blocked these LP tokens using the UNCX network protocol and set the blocking period to last until December 31, 2123. The developer jokingly tinkered with the liquidity pool settings and then got scammed.

However, the promotion could turn out to be a hidden marketing stunt as 4chan forum members and Twitterers decided to invest heavily in the coin. Because of the price increase, critics even accused the developer of intent. The market cap briefly peaked at $6 million at a price near $0.0065, but then fell just below $0.001 at the time of writing.

bald sign

Another token that has seen its price increase extremely in a short period of time recently is BALD. The memecoin, named after Coinbase’s CEO and active on the Base network, surged a shocking 4,000,000% in one day. Subsequently, the token crashed by 85%. The action turned out to be one withdraw. The anonymous BALD developer made millions by draining large amounts of liquidity from the project.

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