36 million in cryptocurrency that were accidentally burned will be restored

The developers of the Juno cryptocurrency, which operates on the Cosmos ecosystem, have announced that they can return accidentally burned funds thanks to the Proof-of-Stake mechanism.

The lost money was previously confiscated from a whale. Whales are the owners of a large amount of cryptocurrency or traders with such a significant capital that they can influence the market. The community accused the whale of illicit enrichment during the token airdrop, which is why the funds were confiscated by the developers.

The funds were planned to be sent to the DAO (community) wallet, but by mistake, the sender used a transaction hash (which looks similar — a set of characters and numbers) instead of the wallet address. Thus, huge assets were instantly burned.

The mechanism of Proof-of-Stake allows, in case of a quorum at the voting, to cancel certain transactions throughout the network. Thus, the money lost forever can be recovered and transferred to the community. According to the developers, this will happen in a few weeks.