Binance Oops moment with HNT tokens

What's the News?

A bug in Binance’s accounting system gave users the chance to update HNT token balance resulting in HNT misallocation

How it happened?

Helium’s MOBILE token was mistaken for HNT, allowing users to send MOBILE to HNT wallets. Users later sold them on exchange

The Total Loss

The accounting bug resulted in the misallocation of  4.8 million HNT tokens worth $20 million

Who reported the bug?

Helium foundation has alerted Binance about the accounting bug when users started receiving HNT tokens

The Bug Update

The bug has been identified and patched by Binance. However, much has been lost in misallocation

Notice from Binance

Binance has advised the users to refrain from depositing or withdrawing HNT on the exchange until further notice.

What is HNT token?

HNT is a token by Helium network. Swipe Up for details

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