Mistyped transfers caused $575M in crypto losses on Ethereum, BNB Chain

Research found that crypto permanently lost from mistyped address transfers on Ethereum and BNB Chain alone totaled about $575 million, according to CryptoPotato. A study led by researchers from Peking University and Zhejiang University in China identified 65,340 cases of address misuse across two address types on Ethereum and BNB Chain: contract accounts and externally owned accounts. Losses tied to contract account-related misuse reached 22,738.41 ETH and 8,681.41 BNB, while externally owned account-related losses totaled 104,224.53 ETH and 9,045.29 BNB. The researchers collected more than 10 million addresses and over 16 million exposed private keys, then examined about 2.5 million transactions on Ethereum and BNB Chain. The study found that address input errors linked to testnet addresses, reused contract addresses, and exposed private keys were major causes of permanent crypto losses.