On July 14, according to a report from Lookonchain, a user accidentally destroyed 10 million PUMP tokens worth approximately 75,000 USD while cleaning up junk airdrop tokens.
Lookonchain warns users not to arbitrarily destroy tokens in the wallet if they do not fully understand the operation, in order to avoid unwanted losses.
MAIN CONTENT
A user accidentally destroyed 10 million PUMP tokens worth 75,000 USD.
The incident occurred during the cleanup of worthless airdrop cryptocurrency.
Lookonchain advises caution when performing operations with tokens in the wallet.
Who destroyed 10 million PUMP tokens and why?
According to Lookonchain, this user accidentally destroyed a large volume of PUMP tokens while cleaning up junk tokens received through airdrop. This unintentional incident highlights the risks of managing many small tokens in a cryptocurrency wallet.
Cleaning up junk tokens aims to reduce complexity and avoid negative impacts on the transaction experience. However, ignorant operations can easily lead to the destruction of valuable assets.
What is the actual value of the destroyed tokens?
10 million PUMP tokens destroyed are estimated to be worth approximately 75,000 USD. This figure reflects the current market value of the token at the time the incident was discovered.
This value is not insignificant, indicating that the protection and management of tokens need to be carried out thoroughly to avoid asset loss.
Users should always thoroughly research the operations related to tokens in the wallet and consult support tools before performing any destruction or balance adjustment actions in the wallet.
Lookonchain, an on-chain analysis expert, reported in July 2024.
Why does Lookonchain warn against arbitrary token destruction?
Lookonchain emphasizes that token destruction cannot be reversed; if performed without understanding, it can lead to serious asset loss. Blockchain technology ensures that all transactions are transparent and irreversible.
Many people confuse junk tokens with tokens of real value; improper destruction can lead to losses of valuable assets that users may not realize.
“Token destruction should be done with a full understanding of the wallet's operation mechanism and the market, to avoid causing unnecessary losses for users.”
Blockchain expert Nguyen Van An, 2024.
How to avoid loss when cleaning up junk tokens in the wallet?
Practical experience shows that users need to carefully check token information and verify value through reputable platforms before deciding to handle junk tokens.
Professional wallet management tools can be applied, and community or expert opinions can be consulted to avoid confusion and unnecessary asset loss.
Can destroyed tokens be recovered?
On blockchain technology, token destruction transactions are permanent and irreversible. Therefore, destroyed tokens cannot be recovered in any form.
This once again emphasizes the necessity of handling tokens carefully and with expertise.
Frequently asked questions
Can destroyed tokens be recovered? Tokens on the blockchain that are destroyed are permanent and cannot be recovered.
Why should one be cautious when cleaning up tokens in the wallet? Due to the easy confusion between junk tokens and valuable ones, incorrect operations can lead to asset loss.
How to know if a token is valuable or not? Check the information through reputable platforms and professional community.
Does destroying a token affect the wallet? It only affects the balance of that token; the wallet remains safe if the operation is done correctly.
Is there a tool to help manage junk tokens? There are specialized wallet management software that helps identify worthless tokens.
Source: https://tintucbitcoin.com/nguoi-dung-vo-tinh-pha-huy-pump-coin/
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