💥A month ago, I had a big mishap with USDT transfers, losing 26,800 USD. At the same time, I summarized some experiences of getting out of this situation to share with you!
My Mistake
At that time, I wanted to transfer 25,500 USD USDT from my KuCoin account to a business partner. He gave me an ERC20 network address. I thought the process would go smoothly, but during the operation, I carelessly selected the Polygon network and completely overlooked it, directly confirming the transfer. In an instant, the money was deducted from my account, but it did not arrive in his wallet for a long time.
Later, after multiple attempts to remedy the situation, we discovered that the problem was that the target address did not support Polygon network deposits. As a result, this USDT was completely lost due to network incompatibility and could not be recovered.
Lesson Learned
This incident made me realize the importance of verifying information before a transaction, with two key points:
1. Network mismatch: The partner's wallet required the ERC20 network, but I mistakenly used Polygon.
2. Irreversible: Cryptocurrency transfers are not like bank remittances; once confirmed, they cannot be undone, and the error must be accepted.
To prevent similar tragedies from happening again, I summarized the following experiences:
1. Carefully verify the wallet address: No matter how troublesome, check multiple times to ensure the address matches the specified network.
2. Match the correct network: Always confirm that the selected network is fully compatible with the network supported by the recipient.
3. Test small amounts before large transfers: First, send a small amount to test, and confirm it is correct before transferring a large amount.
This loss left a deep impression on me, and I hope it serves as a reminder to others not to overlook these details!
At the same time, I am considering staking a potential coin with a chance to explode, where doubling is quite easy, with an expected upside of 10 times or more.
If anyone wants to follow along, please like and comment.
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