Rapper Ty Dolla $ign accidentally burned $500,000 worth of SUNDOG tokens, but Justin Sun intervened to restore the funds.
According to a Lookonchain report on Oct. 8, American rapper Ty Dolla $ign accidentally burned 1.6 million SUNDOG tokens worth $500,000 after making an incorrect transfer on the Tron blockchain. The tokens were intended for his Tron wallet, but he mistakenly sent them to the contract address instead.
Following the loss, the rapper immediately took to X to express his frustration.
Celebrity @tydollasign accidentally transferred 1.66M $SUNDOG(worth $409K) to the contract address, effectively burning his bag of 1.66M $SUNDOG($409K)!
Luckily, #JustinSun sent him 3.2M $TRX(worth $500K), allowing him to buy back 1.64M $SUNDOG again!https://t.co/C2tnSsDDku pic.twitter.com/6h7oQITd0A
— Lookonchain (@lookonchain) October 8, 2024
Ty Dolla $ ign’s initial posts indicated that he had just purchased the meme coin, spending $500,000 on SUNDOG tokens, only to lose it due to the wallet error. Crypto enthusiasts flooded the comment section, attempting to explain what happened.
Several suggested alternative meme coins, such as Shiba Inu, to replace the loss, but none offered a solution to retrieve the burned tokens.
However, crypto entrepreneur and Tron founder Justin Sun, who also acts as an ambassador for SUNDOG, stepped in to resolve the situation for the rapper. Sun restored the Ty Dolla $ ign’s lost tokens by returning the equivalent value to his Tron wallet.
This immediate action saved Ty Dolla $ign from his costly mistake. The event occurred days after the rapper expressed skepticism about meme coins, calling them hype-driven.
However, after some banter on X, boxer Ryan Garcia encouraged him to buy SUNDOG, which the rapper obliged before facing an unexpected technical setback.
Ty Dolla $ign isn’t the first public figure to suffer a loss through a blockchain mishap. In March 2024, an anonymous developer behind the Slerf memecoin accidentally burned $10 million worth of Solana tokens (SOL) due to a mis-click during a token-burning event.
Also, NFT collector Brandon Riley inadvertently destroyed a $129,000 CryptoPunk digital collectible while trying to set up a proxy wallet in 2023.
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