Over half a million hoverboards have been recalled - here's what you need to know

After nearly 100 reported exploding hoverboard incidents have caused an estimated $2 million in property damage around the U.S., the U.S. Consumer Product Safety Commission is coordinating the official recall of 501,000 Hoverboards.

Hoverboard manufacturer Swagway comprises the largest of the recalls, with over 267,000 of Swagway's X1 model recalled. Other models of the "self-balancing scooters" recalled include Digital Gadgets' Hover-Way, Hoverboard's Powerboard, Hype Wireless' Hype Roam, Keenford's iMoto, the Airwalk Self Balancing Electric Scooter, Razor's Hovertrax and multiple models of Yuka Clothing: the Wheeli, 2Wheelz, Back to the Future, Mobile Tech, Hover Shark, NWS, X Glider and X Rider.

Following Amazon's lead, which pulled all hoverboards from its online marketplace in February, online retailer Overstock.com also issued a recall on all hoverboards sold on its website, as Mashable points out.

No matter the make or model, all hoverboards were recalled for the same potential hazard: the lithium-ion batteries used in the boards have been reported to overheat or catch fire. Even the New York City metro has condemned hoverboards as fire hazards, plastering posters in the subway prohibiting their presence.

The CPSC is asking manufacturers to offer customers free repairs or replacements with hoverboard models that meet the safety standards put together by Underwriters Laboratories, an independent safety research company, earlier this year.

For brands that don't offer any models up to these standards, the CPSC advises consumers to simply return their product for a full refund.

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