lost BTC

[hadwin]

I transferred 444 USDT from my Binance account to electrum wallet and just received 0.0054 mBTC ! please help me what happened ? can I cancel the transaction ? how did it lost ?

[1714878981]

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[jackg]

To reassure you, I don't think you've lost anything? I'm not sure how to recover it but I think it's possible.

There are a few guides I've found:

Technical but potentially safer: https://jochen-hoenicke.de/crypto/omni/
Non technical but make sure you trust who you get the wallet from: https://www.reddit.com/r/Electrum/comments/hwan68/what_problems_would_arise_from_attempting_to_send/

And treat the address as insecure on your electrum wallet after importing it.

[nc50lc]

I transferred 444 USDT from my Binance account to electrum wallet and just received 0.0054 mBTC ! please help me what happened ?

The problem here is Bitcoin [BTC] isn't [USDT].
What you've received in Electrum was the Bitcoin transaction made to "mark" the USDT transaction; bec. Electrum only supports BTC, it only saw the BTC tx.
Next time, make sure to check the unit of the coin, not just the address format before sending.

Refer to the post above for the possible solution.

[Charles-Tim]

I transferred 444 USDT from my Binance account to electrum wallet and just received 0.0054 mBTC !

The transactions is confirmed already, that is why you received 0.0054mBTC on electrum, but electrum support only bitcoin, that is why your tether transactions is invalid on electrum. But the transaction itself is valid.

how did it lost?

The coin is not lost, and you can get back your tether. All you have to do is to look for a wallet that support tether omini layer, using coinomi or any other wallet that support omini layer tether addresses are examples. Import the private key of your electrum address (that you send the tether to) on the new wallet (that support tether). You will see your coin on the tether balance after successful private key importation. But omini layer compatible wallets only support P2PKH addresses, bitcoin addresses that start with 1.

For segwit addresses, this link will be helpful
https://github.com/OmniLayer/omniwallet/wiki/Recovering-funds-from-a-Segwit-Address

Also, be careful next time, you are only lucky to have sent to a noncustodial wallet, that is why you will be able to get your tether, if supposed you have sent it to custodial wallet like coinbase, very possible your coin is lost forever as you have no private key given.

can I cancel the transaction?

Also know that transaction is not reversible, it can not be canceled after 1 confirmation. You transaction is confirmed already and also can not be canceled.

[khaled0111]

You shouldn't receive anything on Electrum since you have sent USDT. Electrum only support BTC, so wondering how you received 0.0054 mBTC if you sent USDT? Something wrong there.

There is nothing wrong here and this is exactly what is supposed to happen  
Omni layer works on top of the bitcoin blockchain. Each Omni (USDT) transaction is in fact a bitcoin transaction.
To send Omni USDT you have to create a bitcoin transaction with the minimum amount allowed wich is 546 sats. Any amount less than that will be considered as dust and may get rejected.

@OP, if you sent the coins to a legacy address (starting with 1) then export the addresse's private key and import it into a wallet which supports USDT.
If it's a bech32 address, recovering your coins will be a bit harder.

[bob123]

Check the pinned thread before posting: [READ BEFORE POSTING] Tech Support Help Request Format

Electrum is a BTC wallet. Not a USDT wallet.
So everything is just as it is supposed to be.

Since you didn't give us more information, all we can do is to assume what your issue is. Use the correct wallet and you are fine.

[bitmover]

I think a much simpler solution would be to import your seed into a wallet which supports USDT.

I would try coinomi.

Do you have any other funds within this wallet? if you do, I would move all of them first to some other wallet (but mark your USDT transaction as non-spendable)