Many people have left assets totaling $ 27 million on the Polygon Bridge, likely not completing the “additional transaction” step when transferring money to Ethereum.
The money in question is a bridge between Ethereum and Polygon, where users can move assets between the two chains. Accordingly, users when transferring money from Ethereum to Polygon only through a simple transaction step.
On the contrary, to transfer money to Ethereum properly, users need to send an additional transaction to claim assets from the Polygon Ethereum contract, wait about 1 hour for Polygon to confirm that the token has been “burned”, at which point the new token is sent to the withdrawal address on Ethereum.
According to ZenGo wallet in a blog post, there are more than 35,000 transfers to Ethereum via substandard bridges. These are equivalent to about $27 million, in the form of ETH coins and stablecoins USDT, USDC and DAI.
ZenGo co-founder and CTO Tal Be’ery said:
“While it’s hard to imagine how a person can ‘forget’ millions of dollars, we think that may have something to do with the fact that additional transaction requests and that money can’t be claimed right away, causing the inadvertent abandonment of assets on the bridge.”
Polygon then decided to make a claim transaction on behalf of a user who had “forgotten” $2 million on the bridge, who sent funds to Ethereum in May but never completed the process of withdrawing funds to the chain.
Polygon Chief Information Security Officer Mudit Gupta said that not all money is necessarily forgotten. Some may be in the process of withdrawing funds to Ethereum, but some may have accidentally been sent to the wallet.