bitcoinBTC/USD
$ 19,954.86
ethereumETH/USD
$ 1,143.87
tetherUSDT/USD
$ 1.00
cardanoADA/USD
$ 0.460368
xrpXRP/USD
$ 0.322577
usd-coinUSDC/USD
$ 1.00

What Happened to the Accidental $3.6 Million Transfer from User to ConstitutionDAO?

Reportedly, a user recently contacted ConstitutionDAO over Discord, requesting a return of about $3.6 million from the platform.

Despite its announcement of the platform’s dissolution, the decentralized organization ConstitutionDAO continues to be in the headlines. Reportedly, a user recently contacted ConstitutionDAO over Discord, requesting a return of about $3.6 million from the platform.

In the tweet posted recently by Colin Wu, a Chinese journalist, due to operational errors, the user named undo.eth accidentally transferred $3.6 million, equivalent to 39 million of People, the native token of ConstitutionDAO’s contract address. Nonetheless, in hopes of retrieving the amount, the user has already petitioned the developers to address the mistake as soon as possible. 

While on Thursday ConstitutionDAO officially announced its dissolution, the reasons were a failure at an earlier venture and lack of a cohesive objective for the future. After a brief break, ConstitutionDAO’s core group tweeted after losing a wager to acquire a copy of the constitution of the United States.  They ordered closure due to the lack of a cohesive objective that was as compelling as the attempt to acquire a copy of the US constitution. 

In addition, a new project would entail establishing more official governance and refocusing. According to the organization, the platform’s core staff is currently unable to launch a whole new project, as the development and maintenance of an ongoing project necessitate competent technical and administrative control. Therefore, the dissolution announcement comes as a consequence of the platform and the initiative reaching its limit.

The team revealed on a Twitter thread that “this project was a landmark event. We made history and showed the entire world that a group of internet friends can use the power of web3 to face a seemingly insurmountable goal and achieve incredible results on an impossible timeline.”

Yet, ConsititionDAO has grown in popularity since the news of the shutdown. After the platform’s closing words, the native cryptocurrency, People, skyrocketed in value. ConstitutionDAO’s People soared from $0.004 when the news was announced to an all-time high of $0.16 in the past 2 days, and despite retracement, it is still trading at a robust $0.1. 

Also read: Massive Sell-Off Aftermath: Scaramucci Says “This is a Buying Opportunity”

Also read:

Related News

In order to share their doubts about the industry, the first anti-crypto conference attendees are hoping to get a word with officials from the government.

Crypto Policy Symposium 2022: The First Anti-Crypto Conference

In order to share their doubts about the industry, the first anti-crypto conference attendees are hoping to get a word with officials from the government. Critics of the industry and doubters have joined together to host their own anti-crypto conference where they can express their doubts and connect with legislators in the midst of the most recent crypto bear market. The Crypto Policy Symposium promises to provide skeptics a platform

Read More »
One of the co-founders of OpenSea, the largest Non-Fungible Token (NFT) market in the Web 3.0 ecosystem, Alex Atallah, has stated that by the end of July, he will step down as active manager while remaining on the board.

Co-Founder Of OpenSea Announces He Is Stepping Down As Active Manager

One of the co-founders of OpenSea, the largest Non-Fungible Token (NFT) market in the Web 3.0 ecosystem, Alex Atallah, has stated that by the end of July, he will step down as active manager while remaining on the board. Atallah, who co-founded OpenSea with CEO Devin Finzer in 2017, has played a significant role in the growth of the business. His responsibilities have included community and marketing and product development, among other

Read More »
Updates have been provided on the current service freeze and new recovery efforts were outlined by the company.

Potential Solutions Are Being Considered By Celsius

Strategic deals and liabilities restructuring are being explored by Celsius. Updates have been provided on the current service freeze and new recovery efforts were outlined by the company. On June 12th, all transitions, withdrawals, and swaps were put on pause by Celsius and as of now, the company is looking for ways to recover. “Important steps to preserve and protect assets and explore options” are being taken by the company, per

Read More »

My Coins

bitcoinBitcoin
$ 19,954.864.14%
ethereumEthereum
$ 1,143.878.55%
cardanoCardano
$ 0.4603682.55%
tetherTether
$ 1.000.08%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy

Bitcoin

Contact Us

For any question conatct us through:

sales@crypto-academy.org

Disclaimer: All information and materials on this website are for educational purposes only. Crypto-academy.org does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: sales@crypto-academy.org