Friday, September 24, 2021
Home Crypto News Market 50K Link Tokens Lost Because Of A Small Mistake

50K Link Tokens Lost Because Of A Small Mistake

- Advertisement -

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 -
Albert Brown
Albert Brown has obtained his master's degree in Stock Trading And Investing. His specialty is analyzing the price actions of crypto and stock markets. Albert provides a major role in TheCryptoBasic as a crypto analyst. He is also known for his work on Twinkle Magazine and TipRanks.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Someone Paid 22.5 Ethereum, Wroth Almost $70,000 As Transaction Fees To Get Time Magazine NFT

According to the blockchain explorer Etherscan, a transaction with the record gas fees of 22.5 ETH Worth almost $70,000 was recorded on the blockchain...

Twitter rolls out tips feature globally and adds bitcoin tipping via Lightning

After rumors swirled earlier this month, social media platform Twitter has officially rolled out its tips function worldwide — with a bitcoin integration included...

Biden Plans To Nominate A Major Critic Of Cryptocurrencies As A Top Wall Street Regulator

President Joe Biden may nominate a law professor famous for criticizing the cryptocurrency industry and cheering for the increased role of government in the banking and financial...

Bitcoin.Org Hacked By Scammers For Promoting Bitcoin Giveaways, the first bitcoin educational website that was created in 2008, is believed to be in danger of being hacked for promoting untrue bitcoin...

Crypto Market Recovery In Process As China Injects $18.6 Billion to Bail Out Evergrande

Chinese real property giant Evergrande has defaulted on its debt payment, and fear of company’s payment default has resulted in an unintentional drop in...

Robinhood Bringing Long-Awaited Cryptocurrency Wallet And Transfer Features

Robinhood announced on Wednesday that it has implemented their long-awaited cryptocurrency wallet as well as transfer capabilities to enable customers to transfer and receive...

Here Is First Indication of Appearing Selling Pressure From Large Bitcoin Holders

According to data provided by OkLink, the number of large transactions rapidly spiked during the recent sell-off, which may be the first indication of appearing selling pressure from...

Subscribe To Our Newsletter

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