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50K Link Tokens Lost Because Of A Small Mistake

Jan 20 · 2 min read

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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 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.”

Originally published at https://thecryptobasic.com on January 20, 2021.

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