Binance Made an Accounting Error in This Cryptocurrency!

The world’s largest cryptocurrency exchange Binance, made an accounting error. Binance is worth around $20 million Helium (HNT) distributed the token to the wrong users. Noticing the error, the stock market officials immediately made the necessary update.

The exchange sent approximately 4.8 million $HNT tokens to the wallet addresses of the wrong users.

Helium blockchain, $HNT and $MOBILE It uses two different tokens. Allegedly, Binance confused these two tokens while calculating.

A spokesperson for the Helium Foundation said:

“According to our research, this problem is not caused by us. The error occurred only on the Binance exchange. There is no other exchange or 3rd party affected by this situation. We advise our token holders not to use the $HNT and $MOBILE tokens on Binance until a comprehensive update is made by the exchange.”

What is Helium? What Does It Do?

Helium is a Hotspot (port) network that creates long-range networks for devices using internet of things (IoT) technology. Hotspot networks generate HNT tokens over the Helium blockchain.

Helium mining, on the other hand, works in a different way, not through graphics cards. By providing hotspot networks, miners validate transactions and earn $HNT rewards.

Recently, there has been discussion of the Helium network migrating to a new blockchain infrastructure.

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