$33.5 Billion Worth Of ETH Locked Within a Single Ethereum Contract; Needs New Hard Fork to Be Accessed


Twitter user Tomer Strolight (@TomerStrolight) pointed out a Beacon chain contract this past December 14 containing 8,641,954 ETH, amounting to a whopping $33.5 billion in today’s exchanges, just locked there – cannot be sent or spent.

As it currently stands, this particular Ethereum contract is the single largest contract of its kind ever to exist, making it a huge shame that the billions of dollars within it is trapped and inaccessible.

Experts argue that a new hard fork that hasn’t been specified or even written yet is probably needed to unlock the contract in question. The explicit terms of the hard fork that could potentially break open the billion-dollar ETH contract may emerge once the Beacon Chain finally merges with the Ethereum mainnet, said the experts.

Interestingly, despite the fact that the hard fork is yet unknown and undecided, people are still eager to send their own ETH holdings into the particular contract. This means that these people are well aware that their ETH would be deemed inaccessible for an undetermined time but are still sending their holdings into it.

According to the official website of the Ethereum network, Beacon Chain’s merger with the Ethereum mainnet could be finalized within the first half of next year.


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