We found $50M worth of lost crypto assets; here’s how to claim them
In October 2018, the then MakerDAO (now Sky) team introduced the ‘DSProxy ’- a minimal integration of a smart contract wallet that allowed users to hold their CDPs there, while enabling development of more complex tools and features for management of the said CDPs.
The DSProxy was something we picked up in early 2019 when we started working on DeFi Saver and then ran with it for all the other projects we integrated as well. That is, until we switched to using Safes as the default smart wallets in early 2024.
This means that thousands of users had positions in more than 10 different lending protocols at some point on a DSProxy. And as a side effect, people started thinking that DSProxy stands for “DeFi Saver Proxy” even though we always purposefully used already available DeFi building blocks, as long as they are battle-tested and fit the purpose.
Now, besides the DSProxy, since 2018 up until today there have been a number of additional smart wallets that came up in DeFi, most notably the DSA from Instadapp and Summerfi proxies from the, well, Summerfi team (previously Oasis).
In total, there have been over 200,000 DSProxies alone, most of which are now not in use.
And that’s the thing: while they’re not in use, they may still hold balances. From our findings, they may be holding upwards of $50m in lost or unclaimed tokens.
If you’re wondering where the funds come from, the important thing is that it likely happened a while ago, while these mentioned apps were younger and still rougher around the edges.
Specifically, here are a few ways we know this could've happened:
- The user wanted to pay back their debt, but the frontend sent more funds than needed, and those ended up sitting on the smart wallet.
- The user wanted to unwind their position, and the swap received more funds than expected, so those also ended up on the smart wallet.
- Or the user had automation set up to close their position, where again extra funds were left on the smart wallet.
These are all firsthand examples of things that happened at DeFi Saver. Though important to note, all things that are properly handled nowadays (and have been for years).
So let’s talk about finding these tokens.
TokenSaver: Your lost tokens recovery tool
Our RnD team has just published Token Saver, a tool for finding these forgotten tokens. So far, we’ve found over $50M worth of unclaimed crypto assets, ranging from unclaimed airdrops to leftover token balances accumulated on smart wallets.
To check whether you have any forgotten tokens waiting to be recovered, simply paste your wallet address or ENS into the search bar in the top-right corner of the screen.
You'll instantly see any recoverable assets associated with your wallet, including the token, the amount, the chain it's on, as well as its total USD value.
As you can see here, a certain Mr Zeller has approximately $1,579 worth of UNI available to claim. By clicking the Recover button, he'll be redirected to DeFi Saver, where he can move those tokens directly to his wallet.
Note: If you’re already a DeFi Saver user, leftover balances are one less thing to worry about. We already have mechanisms in place that automatically account for these and ensure they’re included in both your wallet value and shown in your portfolio.
Give Token Saver a try and see if you have any forgotten assets waiting to be recovered. If you have any questions or run into any issues, feel free to reach out to our support team on the DeFi Saver Discord.
Until the next post, stay safe out there!
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