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pooja_kumari
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My friend lost 20,000 dollars n binance
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About a month ago, my friend experienced a significant loss while transferring cryptocurrency, which serves as a reminder of the risks involved in digital transactions. Here's what happened:
The Incident:
My friend needed to withdraw $50,000 worth of USDT from his Binance spot wallet to his business partner’s Bybit wallet. His business partner provided a BEP20 (Binance Smart Chain) wallet address, which is commonly used for its low fees and fast transaction times.
While initiating the withdrawal, my friend mistakenly selected the opBNB network instead of BEP20. This error occurred during the network selection process, likely due to a simple oversight. Unfortunately, Bybit does not support opBNB for USDT deposits. As a result, the transaction went through on the opBNB network, but the funds never appeared in the Bybit wallet.
The Aftermath:
After realizing the mistake, my friend and his partner contacted both Binance support and Bybit support in hopes of recovering the funds. However, because cryptocurrency transactions are irreversible and Bybit doesn’t support opBNB deposits, the chances of recovery were minimal. The $50,000 USDT remains lost.
Lessons Learned:
1. Verify Network Compatibility:
Always ensure the selected network is supported by both the sending and receiving platforms.
2. Double-Check Details:
Review wallet addresses and network choices carefully before confirming any transaction.
3. Test Small, Transfer Big:
For large amounts, send a small test transaction first to confirm everything is correct.
4. Understand Networks:
Know the differences between networks like BEP20, ERC20, and
🔥🔥🔥🔥🔥🔥👇👇👇👇
About a month ago, my friend experienced a significant loss while transferring cryptocurrency, which serves as a reminder of the risks involved in digital transactions. Here's what happened:
The Incident:
My friend needed to withdraw $50,000 worth of USDT from his Binance spot wallet to his business partner’s Bybit wallet. His business partner provided a BEP20 (Binance Smart Chain) wallet address, which is commonly used for its low fees and fast transaction times.
While initiating the withdrawal, my friend mistakenly selected the opBNB network instead of BEP20. This error occurred during the network selection process, likely due to a simple oversight. Unfortunately, Bybit does not support opBNB for USDT deposits. As a result, the transaction went through on the opBNB network, but the funds never appeared in the Bybit wallet.
The Aftermath:
After realizing the mistake, my friend and his partner contacted both Binance support and Bybit support in hopes of recovering the funds. However, because cryptocurrency transactions are irreversible and Bybit doesn’t support opBNB deposits, the chances of recovery were minimal. The $50,000 USDT remains lost.
Lessons Learned:
1. Verify Network Compatibility:
Always ensure the selected network is supported by both the sending and receiving platforms.
2. Double-Check Details:
Review wallet addresses and network choices carefully before confirming any transaction.
3. Test Small, Transfer Big:
For large amounts, send a small test transaction first to confirm everything is correct.
4. Understand Networks:
Know the differences between networks like BEP20, ERC20, and
Aviso legal: Se incluyen opiniones de terceros. Esto no representa una asesoría financiera. Puede haber contenido patrocinado. Lee los TyC.
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