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Crypto CEO Begging Users To Return Around $90 Million He Mistakenly Sent To Them

by : Joe Harker on : 03 Oct 2021 16:52
Crypto CEO Begging Users To Return Around $90 Million He Mistakenly Sent To ThemAlamy

A Crypto CEO who mistakenly gave away $90 million has asked users to give it back.

The accidental giveaway of more than $90 million occurred after a buggy update, with some users waking up to discover they suddenly had millions of dollars worth of tokens in their accounts.

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One lucky user received $29 million worth of tokens, others have also been gifted large sums of money by mistake.

Compound allows users to borrow and lend cryptocurrency and gives them COMP tokens worth money as part of the platform, but a bug in their most recent update meant 280,000 COMP was mistakenly distributed among users.

Compound founder Robert Leshner is now asking users to give back the money, promising they can keep 10% of what was mistakenly given to them, and threatening those who don’t, Mashable reports.

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He took to Twitter to say users who didn’t return the money would be reported to the IRS, which means revealing a person’s private information on the internet. Some compound users said they had been planning to return the all money they had been mistakenly gifted but were reconsidering due to the threats.

Leshner later apologised for the tweet and acknowledged his threats had been ‘a bone headed approach’ to the problem.

Speaking to CNBC, Bitcoin developer Ben Carman said that due to the way blockchain works there wasn’t really any way Compound could get their money back unless users decided to return it.

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‘They shouldn’t be able to recall the money without rolling back the chain. They’d have to purposefully 51% attack the chain to get rid of some blocks,’ Carman said, meaning it’s up to the users to return the money.

Only time will tell how much of the money is returned by users and how many people decide to keep their accidental gifts.

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Topics: Technology, cryptocurrency, Money

Credits

Mashable and 1 other
  1. Mashable

    ​​Crypto CEO threatens customers after mistakenly sending them millions

  2. CNBC

    DeFi bug accidentally gives $90 million to users, founder begs them to return it