Urgent Assistance Needed: Recovery of ~$4M (49,752 cETH) Mistakenly Sent to Compound Contract

1

Hello everyone,

I am an experienced user with over 3 years of engagement with the Compound protocol. Recently, I made an error and accidentally transferred funds (49,752 cETH) directly to one of the Compound smart contracts (0x4Ddc2D193948926D02f9B1fE9e1daa0718270ED5) instead of the intended address (0x66466428990E0F42A4C54f64bee0Db6BF2336DE5). This transaction was made via Ledger without any third-party application.

While I initially requested assistance to recover my funds, I want to clarify that the 49,752 cETH represents a promissory note for the 1,000 ETH I pledged as collateral just a minute before the error. This is verifiable in the contract history. My mistake was in sending this note back to your system via an unintended contract. Legally, the 1,000 ETH I pledged remains on your balance, and nothing has changed regarding ownership.

Your system can release this ETH to external borrowers who provide sufficient collateral, yet you claim I cannot retrieve my own pledge. This inconsistency seems problematic, and I urge you to address it promptly to avoid potential legal or reputational risks.

If the original contract cannot be altered to retrieve the locked cETH, an alternative solution might involve introducing a conditional token within the borrowing protocol. This token could have a borrowing limit of 1,000 ETH at a specific rate, using the locked cETH as collateral. Such a workaround would ensure the 1,000 ETH remains recoverable, resolving the issue without altering the contract.

I believe this matter requires the attention of individuals with the right expertise. I am also willing to cover the associated costs of implementing a resolution. Thank you for your understanding, and I look forward to your support in finding a fair and professional solution.

4

Oh god that’s awful man. I hope there is a way to retrieve it as I know usually contracts can’t be modified as a security measure. I support retrieving it if it’s possible minus the costs to implement a solution.

Btw I’m sure you know this already but consider using multiple wallets if not already…I don’t put too much on any 1 just incase. Kills me when it comes to gas fees and a pain to keep all the ledgers organized but safety first.

5

I really hope this matter will be resolved professionally. Mistakes are made because we are all human beings. If there is a way for a possible solution, I trust Compound will find it and be of assistance to you.

6

Can these even be retrieved? I doubt it