Bitcoin chief loses over 136 million naira through errorneuos transfer

[Fivestar4everMVP]

Gaius Chibueze - popularly known and referred to as Bitcoin Chief - A self-aclaimed first Nigerian and African to buy bitcoin in 2011 when bitcoin was $35, yesterday lost a total amount of $90,000 USDT, worth over 136 million naira based on today's usd/ngn exchange rate; when he withdrew the usdt from Binance to deposit to kucoin, but mistakenly sent the usdt to the usdt contract address instead of his kucoin account usdt address

Below are the transaction hash

$88,600 usdt - https://tronscan.org/#/transaction/c6c87f47cd686d940a8c1f5f6a9b54300be4799234851790d191fb9327c8d354

$1511 usdt - https://tronscan.org/#/transaction/b0d58fbd06ddf9a566100f9e985d52ff7998ba7d4f643759d618350509b11ebf

HIS TWEETS - click shot to view on X





I decided to share this here for our crypto newbies, making money through crypto can be easy, but losing it can also be as easy as counting 1,2,3 - crypto currency is risky all round, all round in the sense that, if you don't lose money by getting scammed, you can lose money by your very own mistake - we all have to be very careful at all times.

This guy is not a newbie, he's an OG, yet, he made this type of mistake, how much more the newbies amongst us?

AS LONG AS YOU ARE DOING CRYPTO, BE CAREFUL AT ALL TIMES, NOT JUST WHEN SENDING FUNDS, BUT AT ALL TIMES.
Lobatun - no talk say person no tell you..

[adultcrypto]

Gaius Chibueze - popularly known and referred to as Bitcoin Chief - A self-aclaimed first Nigerian and African to buy bitcoin in 2011 when bitcoin was $35, yesterday lost a total amount of $90,000 USDT, worth over 136 million naira based on today's usd/ngn exchange rate; when he withdrew the usdt from Binance to deposit to kucoin, but mistakenly sent the usdt to the usdt contract address instead of his kucoin account usdt address

Below are the transaction hash

$88,600 usdt - https://tronscan.org/#/transaction/c6c87f47cd686d940a8c1f5f6a9b54300be4799234851790d191fb9327c8d354

$1511 usdt - https://tronscan.org/#/transaction/b0d58fbd06ddf9a566100f9e985d52ff7998ba7d4f643759d618350509b11ebf

How can this possibly be a mistake? I have tried to find what could possibly make someone make this supposed mistake but I have not find even a single clue.

• To deposit into Kucoin, you need only USDT address of Kucoin and never the Smart Contract of TRX. So, where then did the Smart contract address come from?
• He did the first transaction of 1,511 USDT first and on the 14th of March and I supposed that was a test.
  
• The next day he sent the second transaction of 88,654 USDT to the same address of the first transaction even without receiving the first transaction.
  

How can someone who claim to be the first African to buy Bitcoin make such an armature mistake? Could it be that he was inebriated? There is something fishy about this particular transaction and claim as there is no substantial evidence that this was a mistake.

[Charles-Tim]

He sent the money to a contract address. Any coin sent to contract address is burned. Or as there been a recovery in the past? I have not heard of any.

One thing about bitcoin and other cryptocurrencies is that we should check and recheck the address that we are sending to because sending to a wrong address is most likely (99.99%) not recoverable.

[Pi-network314159]

A great lesson to everyone, not just only the newbie but to all of us here, let us not be too sure of the transaction we do . We should always check and cross check before making such silly mistakes. It where to be a newbie, it happens and a message is passed across, many people would be complaining that is it only newbies, that don't it happens to other members apart from newbies? Well your questions have been answered. The Above results shows that it is applicable to almost everyone and I thank God that this information was brought here,and it will bee a way of letting people still be serious and check properly before performing any transaction.

[sokani]

Dis one wey our government dey look for di names of top traders for Binance. With dis revelation, him don automatically add him name for the list and make him dey ready for wetin to come. Also, with dis kind plenty money, dis guy no still know say e no good to store funds on CEX. I thank God for di information wey we dey get for here.

Back to di matter, e dey good say whenever we wan carry out any transaction, make we dey always get a clear head so that we no go make dis kind of costly mistake.

[Davidvictorson]

Omo this one pain am o. You fit see the pain for wetin him write. Chai eventhough I sabi say this guy get bastard money yet, $90K nor be moi moi. We need to dey more careful when we dey send crypto. And from wetin this man write sef e be like say na sleep eye wey him take send the usdt. If nor be small tin sef I dey almost involve another pair of eyes to help me confirm my transaction addy and network before I finally click on send. I feel the man pain, I hope say Justin to listen to am base on who him be chai and las las because the story to sweet  if him do am.

[Obim34]

Dis one wey our government dey look for di names of top traders for Binance. With dis revelation, him don automatically add him name for the list and make him dey ready for wetin to come. Also, with dis kind plenty money, dis guy no still know say e no good to store funds on CEX. I thank God for di information wey we dey get for here.

Back to di matter, e dey good say whenever we wan carry out any transaction, make we dey always get a clear head so that we no go make dis kind of costly mistake.

Wetin the Nigerian government fit do am  , for him own money wey him suffer for, nothing concern am and as e be any length they want take the matter reach him go take the case cause him no dey like average man wey the government fit bend and after everything dey go reimburse am back wetin him spend.

Just that sometimes things like this are meant to happen, we may not face the exact mistake but in another way we might lose our funds, how careful we claim to be doesn't exempt us from still making mistakes but at most we ought to be careful aswell.

[Makus]

Omor no be small money we dey talk for there oo, 90k USDT. Anyway Sha this na another cooked lesson wey don drop for our head oo, say make we calm down cross check address before we send money inside, e no get how hurried we dey at that time, make we just clam down oo, if not our own story fit be the next. Me I go take my time check the address wella, irrespective of the amount wey I wan send because if e go, you fit no get am back except say na better person hand e enter, some persons sef fit consider that your mistake transaction as donation or gift.

[Justbillywitt]

This thing can be so painful honestly. If it hasn't happened to you won't feel the pains at all till the day it will happen to you. None thing I have noticed in life is that, no matter how careful we are on something, we are still prone to mistakes. But the prayer is that let's not make a mistake on something we cannot handle. And also let it not be that it is somebody else fund that you make the mistake with. Just imagine if this money was someone's else money who he is possibly helping to buy BTC for. With this in mind let's always avoid the urge to buy anything crypto currencies for third parties. It is indeed a big loss and hopefully we all learn from this and avoid this kinds of mistakes.

[Wiwo]

Seriously if am sending just $50 I do checking the address more than 10 times talk more of someone sending almost 90k and will not even at least check the address once, we'll this is a more than just a mistakes bit transcend into what I can say offering and contribution to the entire market since the coin is burned forever.

Kai this one weak me and to say that this guy na Nigerian ohhh e come make the pain increase more because with the current economic conditions in Nigeria that amount is enough to changes someone life forever so losing such amount will indeed feel terribly bad all the time.

[Jegileman]

One good lesson to take from this crypto enthusiast is that, no matter how perfect you are or how long you’ve stayed in the crypto space, you have to remain careful and double check before approving any transaction in the crypto space. This guy have lost and huge amount of money that if someone else have lost a significant amount and not even up to this would want to commit suicide. This things really happen, so we just have to trade carefully and make sure that we learn the basics of securing funds and know when and how to send to avoid any mistake that will cost us to lose our funds.

[Nangiconference]

Erroneous transfer is what can happen to anybody not only newbie it could be triggered due to so many factors like psychology factor, environmental factor and lots more. But I think that money will not be in the air it should have dropped somewhere meaning that cryto should add these feature of tracking and getting refunds from error transfer. Like in our traditional banks, of you make mistake to a wrong account, the customer care can help you out only if the recipient has not withdrawn it.

[Cryptomultiplier]

I have been close to making a similar mistake like this sometime back when I tried to withdraw funds to a wallet. The only issue then was that I didn't realize on time it was an expired address which I was yet to follow process to get a new one.
I had to contact the customer care of the exchange and followed up on the instructions to recover the funds and get a new address.

Although I know this my instance isn't as critical as the Bitcoin chief who lost 136million Naira, but I can only imagine how bad he still feels till now knowing that such a mistake may be unrecoverable.
Hence why it's good advice to never trade or conclude transactions when under the influence of alcohol or drugs or feeling sleepy. It always pays to triple check if possible, or delay in making the decision till there's better clarity.

[Igebotz]

How can someone who claim to be the first African to buy Bitcoin make such an armature mistake? Could it be that he was inebriated? There is something fishy about this particular transaction and claim as there is no substantial evidence that this was a mistake.

It's a clickboard copy and paste error, which can happen to anyone; he accidentally copied the Tron CA address from his notebook instead of the Trc20 address he intended to send the coin to. This is crypto, and some of the mistakes you will encounter will blow your head, but they did happen.

It's a fresh lesson for us: always double-check before broadcasting transactions... One minor mistake may hinder your cryptocurrency journey...

[Mate2237]

Oboy if I loss dis kind big amount of money eh I fit lose my life tok because if frustration. This na big loss but the guy e no dey even shake sef. And dis na some of the things that are making us to advise people to use only one exchange with one wallet because the mistake you go make e go make you faint because if assuming one you lost dis kind money how person go do.

Make we no dey use different exchanges and different wallet because if you go do mistake send Bitcoin go another person wallet then your money e don lost be that like this one. Because cryptocurrency e no fit reverse am.