Juno accidentally transfers $36 million in seized funds to inaccessible wallet address

A protracted discussion and two different votes ended with the Juno project deciding to confiscate all but 50,000 of the 3 million $JUNO accumulated by one individual. When the discussions began, the 2.95 million $JUNO to be confiscated were worth a combined $121 million. However, the $JUNO price has dropped from the then all-time-high of around $40 to under $13, putting the value of the tokens to be confiscated closer to $38 million.

Juno intended to transfer the seized tokens from the individual whale's wallet to a community-controlled wallet. However, the person making the transfer accidentally copied and pasted the wrong value, resulting in the funds being sent to a wallet address that no one can access — effectively burning the tokens.

Daniel Hwang, who helps run one of the Juno validators, said to CoinDesk, "We fucked up big time". He also offered an unusual opinion: "Validators should have due diligenced for ourselves to actually check the code we're executing and running".

Shortly after the botched transaction, the Juno community began voting on a proposal to hard fork a second time to fix their mistake.