Coinspeaker
Vitalik Buterin’s Wallet Stuck with Over $1M on DeFi Bridge

Arkham Intelligence has published a new report stating that several dozen crypto whale wallets holding seven figures worth of assets have been stuck on different decentralized finance (DeFi) bridge assets. One of such wallets belonging to Ethereum co-founder Vitalik Buterin, holding over $1 million, has now been stuck for nearly seven months.

There are several such wallets whose assets remain unclaimed for now. Crypto analytics firm Arkham Intelligence noted that several notable whale addresses associated with prominent crypto individuals and companies like Coinbase have had their funds stuck on the bridge contracts for nearly two years now.

DeFi Bridge contracts are nothing but software protocols that facilitate the transfer of data and assets between different blockchain protocols. They help in facilitating interoperability within the DeFi ecosystem. But not all DeFi bridges work in the same manner! There are some cross-chain bridges allowing users to automatically obtain their assets on the other chain.

Furthermore, traders using these native bridges should retrieve thei...