$500 Million Accidentally Sent To Ethereum’s Genesis Address
Like the Bible starts with Genesis so does Ethereum. The first address on the Ethereum block is constructed of 0x followed by 40 zeroes. It has been the accidental recipient of $6 million in ether and over $500 million in ERC20 tokens. The genesis block is a special block which was mined by nobody and therefore is associated with the account 0x0000000000000000000000000000000000000000. With BitCoin the Genesis Address was allocated to Satoshi and miners would send BitCoins there as a way to acknowledge what he/they/she had created. With Ethereum the coins are being sent mistakenly.
If you don’t enter an address for coins to be send to in Ethereum and hit send the coins get sent be default to the Genesis address. One Reddit User asks “I was transferring my tokens from my ethereum wallet to my ledger nano s and forgot to input an address before hitting send. Ethereum wallet apparently sends to [the genesis address] as a default. Has this happened to anyone else?”
The BitCoin Genesis address coins can never be returned due to Satoshi’s disappearance. However the Ethereum ones will currently be controlled by Ethereums founder, Vitalik Buterin, so could be returned.
At the moment it appears as though 33,000 Aeternity, almost half a million BAT, 9.5 million Bytom, 750,000 Golem, and many more are registering at the Ethereum Genesis address.