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Unregistered tokens from ICO returned to Berith

This is a summary of the Berith ICO and how more than half a million EOS was returned to the control of an unregistered token holder.

About Berith and background

Berith Korea is a blockchain based integrated membership business platform.
Official Website:

On November 2017, they launched the contract address for ICO and had their first ICO. Initially they only accepted Ethereum. However, due to huge response, the second ICO on April 2018 they collected Ethereum as well as EOS in the same smart contract. The second ICO was successful and they received 522,389 EOS from the ICO. The smart contract address was 0xd0c3135cff83aa5a5824ed5ffbc1ae35f5d424e5

The problem

Before the EOS main-net launch they tried to register the smart contract and realised that contracts cannot really register as contracts don't have a private key. The funds were essentially stuck, they reached out to and several community members but there was no progress. EOS Authority released a snapshot on June 3rd and they had their tokens listed but it was marked as unregistered. At this point EOS Authority was already aware of the plight of token holders that did not register and did not have fallback method applied to them.

Appeal by Berith CTO:

ECAF - Unregistered solution

EOS Authority teamed up with the wonderful team at EOS Argentina to develop the unregistered solution. While this solution helped hundreds and then thousands of users, it wouldn't help unregistered tokens stuck in contracts as contracts don't have an Ethereum private key. They would have to use something like ECAF. Berith approached ECAF to help resolve the issue. Berith told us they were asked for a large fee as part of ECAF price sheet (above of 30K EOS) to resolve this issue.

Final solution

EOS Argentina discovered the Ethereum yellow paper which showed that the Ethereum contract address can be derived from the Ethereum address itself. An updated proposal was presented to the Block producers on EOS. This proposal was finally accepted and executed on the mainnet. This updated the eosio.unregd process for all the unregistered token holders. Shortly after this Berith tried to create the account and they were successful. (that's the account with all the tokens).

Berith now have all the tokens under their control on the EOS mainnet.