Dozens of “crypto whales” with assets ranging from six to seven figures are stuck on a slew of decentralized finance (DeFi) bridge contracts. 💼 One of these wallets is associated with Ethereum co-founder Vitalik Buterin, who has been stuck with over $1 million worth of assets for over seven months.
According to a report from Arkham Intelligence, several prominent wallets associated with prominent individuals and organizations in the crypto industry have had their funds stuck in these bridge contracts for two years.
DeFi bridge contracts are software protocols that allow assets and data to be moved between different blockchain networks, enabling interoperability within the DeFi ecosystem. However, not all DeFi bridges function the same.
A wallet associated with thomasg.eth has had $800,000 worth of assets stuck on Arbitrum Bridge for one year and 10 months. Another wallet associated with Bofur Capital, with 27 wrapped bitcoins worth $1.8 million, has been stuck for two years and three months.
Arkham Research has warned the "whales" associated with these forgotten funds to restore them.