Don’t Fall For It: How During Withdrawal I Lost 429.771 Hive To A Binance Impostor On The Hive Blockchain

A few days ago, I needed to make the withdrawal of 429.771 Hive to my Binance account. I prefer to use Binance for my Hive withdrawals for three major reasons. First, withdrawals are usually fast. Second, it is easy for me to convert it to my local currency via Binance. Lastly, I could easily convert it to any other crypto of my choice on the Binance exchange.

Although I am not new to making Hive withdrawals to Binance, I got distracted on the day the stated transaction took place. A Hive newbie had come around and I was trying to show him how to make Hive withdrawals to Binance. Unfortunately, I got distracted and sent the Hive to an account which, I believe, is a Binance impostor.

_Forbes.com

Instead of sending my transaction to Hive account@deepcrypto8, which is the official deposit address for Hive on Binance, I wrongly sent it to Hive account@deepcypto8. It appears that the Hive is now lost because the said account is inactive. During a brief investigation, I found that another Binance impostor exists with the username deepcypto8 and, looking at the transaction history, quite a number of people appeared to have fallen prey to the latter impostor.

While I take full responsibility for my own negligence, it is a concern that these Binance impostors exist on the Hive blockchain, creating a trap into which unsuspecting investors might fall. To the reader, it is important that you copy and paste the deposit address of whatever exchange into which you intend to withdraw your Hive. This is the only way to safeguard your fund and protect yourself from these ravaging impostors.

Stay happy and safe. Thanks for your time.