Binance Error Resulted In A $20 Million Loss To HNT - Investment - Nairaland
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| Binance Error Resulted In A $20 Million Loss To HNT by altcoinng: 7:24pm On Sep 17, 2022 |
The Helium Foundation has warned Binance about a mistake that caused users to mistakenly receive about $20 million in HNTs. An accounting error discovered by Binance last night led to a misallocation of funds. The error, in which the Helium MOBILE token was mistaken for HNT, allowed users to send MOBILE balances to HNT wallets and then sell them on the market. The failure actually gave users dollars for pennies and allowed about 4,829,043 MOBILE tokens to use Binance’s accounting system, a mistake not a chain issue and isolated from the exchange, The Helium Foundation said. “We advise token holders to suspend HNT and MOBILE deposits on Binance until a comprehensive update of the situation is provided,” the foundation said in a statement. Reacting to what may have been a sell-off of users who took advantage of the exploit, HNT is trading down, currently around $4.05. https://altcoin.ng/binance-error-resulted-in-a-20-million-loss-to-hnt/ |
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