Tuesday, August 9, 2022
Home Crypto News Market 50K Link Tokens Lost Because Of A Small Mistake

50K Link Tokens Lost Because Of A Small Mistake

- Advertisement -
Follow-Us-On-Google-News

Two different cryptocurrency users made almost the same mistake, losing a total of 50 thousand dollars in ChainLink (LINK) and Ethereum (ETH). These users who sent money to the wrong chain are now trying to find a way to get those coins back.


Cryptocurrency users can store their digital money in wallets such as Celcius, in addition to trading platforms. Celcius that has more than 340 thousand users, two of them lost a total of 50 thousand dollars due to the wrong transactions they made.

a Binance user named ‘ollout’ decided to transfer his Chainlink funds to Celcius wallet. He checked the wallet address and the withdrawal amount but did not noticed that he was using Binance smart chain, BEP-20, instead of ERC-20 (Ethereum).

As Binance has its own chain, BSC, this binance chain is not compatible with Celcius wallet. This person who tried to send 50 grand in his wallet is now looking for a way to get it back. Community is telling to contact Binance or Celcius, but such transactions cannot be reversed.

Almost the same error was made by another user named KhaSuoo, a Binance user tried to send ETH to his wallet. But mistakenly send them to BEP 20 address.

KhaSuoo is calling for help:

“I’m a rookie. I sent $900 Eth from Binance to Celcius. I thought it didn’t matter what method of transfer I use. And then I found out that my wallet didn’t support the BEP-20 standard. I spoke to the support team, but they said they couldn’t do anything. Is there anything I can do, please help…”

Information on the Celcius network site confirms that these transactions are lost forever.

The company’s instructions says:

“Please do not send Crypto Assets to your Celcius wallet using Binance Smart chain. Cryptocurrencies sent in this way will not be accessible.”

- Advertisement -

Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Albert
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

How Decentralized Finance (DeFi) Can Bank The Unbanked

In the world of blockchain, the vast majority of decentralized finance news focuses on how this industry can further innovate financial technology, improving existing...

Why Are Most P2Es So Boring?

P2E (play-to-earn) games have been around for quite a while now. Numerous platforms have entered the market, each trying something different and at least...

Keninah Takes Donation Blockchain To a New Level Alongside Cardano

The coin market has seen significant growth since the introduction of the first crypto asset – Bitcoin. The changes in structure, however, use cases,...

Mike Novogratz Says Ethereum Could Reach $2,200 Before The Merge

  Mike Novogratz predicts Ethereum might hit $2,200 or more before its Merge release. window.coinzilla_display = window.coinzilla_display ||...

FTX Partners Reddit to Enable Redditors to Utilize Their Community Points for On-Chain Transactions 

  Redditors can use community points for on-chain transactions via FTX Pay.  window.coinzilla_display = window.coinzilla_display || ; ...

Iran Makes First Crypto-Based Import Order Worth $10 Million

  The Iranian government makes its first payment in cryptocurrency for imports totaling $10 million. window.coinzilla_display = window.coinzilla_display...

PIXXTASY Project – Don’t Use. Just Own It.

PIXXTASY is the brainchild of Zoltán Egri, a man who overcame a two-year drug addiction and has since become a serious anti-drug advocate. His...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.