HOW WE ALMOST LOST 20 BNB

It was bound to happen to us at some point, right? A member in Exo Ventures finally experienced that infamous mistake in crypto, sending crypto to the wrong network. Read more to find out how to avoid this mistake!

I Lost My BNB

First of all, let me set the scene. Our intern was just learning the ins and outs of SpookySwap, testing the waters with several Fantom coins when IT HAPPENED. She cashed out of a coin to BNB, and thankfully, sent a test transaction of 2 BNB (instead of the 20 BNB that she was going to send) directly to a Metamask address on the BSC Network. Some of you might not know this, but SpookySwap is an exchange on the Fantom network, so unfortunately the BNB sent from Fantom to the BSC Network were inevitably lost.

We took this as a great learning opportunity and thought it might be useful for some of our followers as well. We showed our intern how to bridge coins from one network to the other, particularly for this case how to bridge on SpookySwap directly. In this next section of the article we’ll show you how to bridge tokens from one network to the other, using this exact example.

Step 1: Go to the BRIDGE page on SpookySwap

Step 1

Go to the BRIDGE tab on the SpookySwap DEX. You can find this at the top of the menu bar.

Step 2: Choose the ‘FROM’ Chain or Network (generally will be Fantom)

Step 2

Click on the “From Chain” dropdown menu and choose the chain/network that your coins are currently on. In this case, the BNB was on the Fantom chain. So, we choose Fantom.

Step 3: Choose the “TO” Chain or Network

Step 3

Click on the “From To” dropdown menu and choose the chain/network that your coins will need to be sent to. In this case, our intern wanted to send the BNB to an address on the BSC chain. So, we choose BSC.

Step 4: Choose the token that you want to bridge

Step 4

Click on the “Select a Token” dropdown menu and choose the token that you want to bridge from one network to the other. In our scenario we needed to bridge BNB from the Fantom chain to the BSC chain. So, we choose BNB.

Step 5: Bridge the token from one network to the other

Step 5

Verify all the variables that you already entered to make sure that everything is accurate (From Chain, To Chain, and Token to Bridge). Once you’ve verified the information, click on “Bridge Token” to complete the bridging. This process can take a while, so don’t start worrying if it doesn’t happen immediately. Once the process is complete, you can withdraw the BNB to a BSC wallet address.

All in all, this was indeed a great learning opportunity for our intern and hopefully for some of you as well. We hope you take this situation as a reminder to constantly do your own research, verify your steps and be on your toes.

--

--

Exo Ventures Consultancy is empowering people with knowledge on blockchain & cryptcurrencies, and blockchain startups with advisory & consulting services.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
| Exo Ventures Consultancy |

Exo Ventures Consultancy is empowering people with knowledge on blockchain & cryptcurrencies, and blockchain startups with advisory & consulting services.