According to Cointelegraph, the crypto developer platform Gitcoin admitted that it had lost about $460,000 in Gitcoin (GTC) tokens after mistakenly sending funds to an unrecoverable contract address. On October 6, the project leader "CoachJonathan" posted details of the accident on the Gitcoin governance forum. He said that the purpose of transferring GTC from the inventory was for a commodity, Meme coin and marketing budget proposal. However, the funds did not enter the multi-signature address, but entered a GTC token contract. He regretted: "This makes the funds trapped in the contract and cannot be recovered." A total of 521,440 GTC tokens were lost in this mistake. At the time, the coin was trading at just under $0.90, and the estimated dollar amount lost was $461,000. After the transfer, Gitcoin core developers were contacted to explore whether the contract had a withdrawal function or could be upgraded. It was confirmed that neither option was feasible, so the funds were marked as lost. In light of this incident, the team shared plans to ensure this type of mistake doesn’t happen again and to clarify responsibilities if other incidents occur.