[Practical Tips] What should I do if the virtual currency is transferred to the wrong network (chain)???
There are always newcomers in the cryptocurrency circle who don’t know how to deposit and withdraw coins, and they transfer to the wrong network, resulting in virtual and lost coins.
We know that there are many currencies and chains in the circle, such as Bitcoin (BRC20), ETH+ (ERC20+), TRX+
(TRC20+), BNB+(BSC)...they are all their own networks (chains). To put it bluntly, these coins are equivalent to different banks.
Yes, CCB can only transfer funds to CCB, but funds cannot be transferred from CCB to ICBC.
TRC20 to ERC20 transfer is not received. You use TRC20 to transfer to my ERC20 address, but after you transfer the coins, my ERC20 address cannot receive them.
TRC20 can only be converted to TRC20.
Once the wrong chain is transferred, the virtual currency cannot be recovered in general.
This is the basic knowledge of the cryptocurrency world. This article will explain in detail what to do if you transfer virtual currency to the wrong network?
Under what circumstances can a "wrong transfer" be retrieved?
There are 4 types of currency transfer:
1. Exchange to exchange.
This is the best solution,
For example, if you transfer from Ouyi to a certain exchange and transfer to the wrong network, you should first check on the chain to find out which exchange the coin has been transferred to. Generally, it will be the exchange where the coin was received. It doesn’t matter if you don’t know how to check, just contact the customer service of the exchange directly.
Professional personnel will contact you by email, and you will submit the information as required. It will take a few days to retrieve your coins. You will need to recharge the GAS fee to the exchange in advance. For example, if you transfer the coins on TRC20 to the ERC20 network, you will need several hundred ETH as GAS fee.
The fee is not low. If the amount of money transferred is less than a few hundred, just don't ask for it to save trouble.
If you mistakenly transfer your funds to another exchange, you will need to contact the other party, who will then connect with the customer service. Of course, you will be responsible for the GAS fee.
You should take the responsibility, after all, it was caused by your mistake.
If the other party does not cooperate, you can contact the customer service of the other party's exchange to file a complaint, or call the police to resolve the issue. If the issue can be resolved through negotiation, then you must negotiate, and don't force it. If the other party does not respond, then calling the police to file a complaint is time-consuming and laborious.
The exchange generally cannot transfer to the wrong network. When you enter the receiving address, it will automatically match the network, making it easier for users to find address network errors. Even if you don’t find it, the exchange will remind you if you have entered an error when you click Confirm.
At this point, Tianji will share with you some knowledge: the coins of exchange users are in the hands of the exchange boss, and the coins in them do not completely belong to you. The private key in the boss's hand controls the coins of all users. The private key security protection level is absolutely world-class, kept by multiple shareholders, and the people who protect the private key cannot be in the same country. This is to prevent someone from suddenly encountering an accident, being persecuted, and losing exchange assets or transferring wallets.
Whether you can recover the lost coins depends on two situations: 1. You transfer to your own wallet. 2. You transfer to someone else's wallet.
The first method is to transfer it to your own wallet and retrieve it.
For example, you mistakenly transferred the coins from your Binance (BSC) wallet to your ETH (ERC20) address:
You just need to export the private key or mnemonic of the ERC20 wallet and copy it to the BSC wallet, then open it to find the lost virtual currency.
The second method is to transfer someone else's wallet, which requires the cooperation of others to retrieve.
As long as someone is willing to give you the wallet's private key or mnemonic phrase, you can recover your coins.
People you know and trust will help you find coins, but strangers generally won’t. After all, they are afraid that you will transfer the coins in their wallets.
If you mistakenly transfer your coins to the wallet address of some black and gray project parties, forget it, because others will definitely not give you the private key and mnemonic phrase.
In the cryptocurrency world, private keys are more important than bank card passwords. Someone with your card password may not be able to transfer the money in your card. You also need a card, a text message,
Verification, facial recognition, etc., but with the private key, you can directly transfer assets.
If you transfer the coins to someone else by mistake, you need the cooperation of both parties to recover the coins. If one party disagrees, neither you nor the other party will get the lost coins.
3. Transfer from exchange to wallet.
You need to check on the chain where the coins have been transferred to. If they are still on the exchange, then congratulations, you can retrieve them through the exchange customer service.
If the money is transferred to a stranger's wallet, and the stranger is unwilling to cooperate and does not give you the private key and mnemonic phrase, then I'm sorry, just accept it.
It is useless to contact the exchange customer service. Once you successfully transfer out the assets, they cannot be returned. The blockchain is irreversible.
At this point, it is useless to contact the exchange customer service. Once you have successfully transferred out your assets, they cannot be returned. The blockchain is irreversible.
Anyone who tells you that you can recover lost assets without the cooperation of the other party is lying to you.
It’s a scam. The scammers say that as long as you transfer coins, they can help you recover your stolen or lost assets. In fact, they are just trying to steal your coins.
Blockchain rollback "seriously violates the basic function of blockchain, "immutability"! 4. Transfer from wallet to exchange.
Tianji himself once transferred his wallet to an exchange, but he chose the wrong network. It seems that he transferred the DAI coin on the Horseshoe Chain to the ETH chain. At that time, the wallet was successfully transferred, but the exchange account did not receive the money. After checking, it was already in the exchange.
Tianji immediately contacted the exchange customer service, and after several days of negotiations, he finally got it back, but he also lost a lot of GAS fees.
The exchange will help you find coins and ask you to recharge the on-chain tokens to the exchange as GAS fees. The staff will ask for your receiving address and then give
You turn back.
It’s okay to transfer it to yourself, but it’s very troublesome to transfer it to others.
Therefore, we must check the receiving address and network before transferring money!
