Accidentally send erc20 to kraken eth address

[funcho]

I'm destroyed
Send 10k dai to the wrong address format -on page they say they not recover
Only eth to eth
What if I want to close my account
. Will they get my private keys ?
This makes me nervous a bit

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[OmegaStarScream]

Kraken owns the private keys, closing your account won't change anything about that. I suggest you reach out to the support, but I wouldn't count on it because apparently, there have been some similar cases[1][2], and Kraken wasn't helpful about it.

[1] https://www.reddit.com/r/Bitcoin/comments/76i6p0/kraken_support_wont_help_with_a_recovery_request/
[2] https://www.reddit.com/r/CryptoCurrency/comments/7zfvbc/i_sent_21_bch_to_a_btc_address_on_kraken_they/

[funcho]

every other exchange I know uses 1 eth for all assets

[cryptovers]

I faced with this issue 2 years ago with Yobit. Worth support, that said me I can do nothing with this. It was my fault.
Same here, I think it make no sense to contact support.

[AB de Royse777]

every other exchange I know uses 1 eth for all assets

I think binance, kucoin and some other popular exchanges do not do this. They have different address for different coins/tokens.

It was my fault.

We always remind users to double-check the address, do not rush through when you are making a transaction but still we hear these kinds of stories. 

Anyway, $10K worht coins are a lot and I hope customer support response and help to recover his funds.

Sorry to hear that OP.

[bL4nkcode]

every other exchange I know uses 1 eth for all assets

I think binance, kucoin and some other popular exchanges do not do this. They have different address for different coins/tokens.

Binance do that way, even those crypto which was started as erc20 and transfer to mainet with their own blockchain, still can get the funds if deposited to their previous erc20 address.

I wish you good luck OP, this is something so hard considering how unhelpful kraken to its previous case the same as yours.

[funcho]

What about legal actions
A bank gave me account information
The money arrived
The bank owns the key for the deposit box but refuses to open it because it's against terms when you don't write King in reference

Would be a simple analogy

Actually it's a system weakness and technical design that the balance don't appear and erc20 nonetheless is a medium of ethereum

I will not update this post but thanks for all coments

[cryptovers]

every other exchange I know uses 1 eth for all assets

I think binance, kucoin and some other popular exchanges do not do this. They have different address for different coins/tokens.

It was my fault.

We always remind users to double-check the address, do not rush through when you are making a transaction but still we hear these kinds of stories. 

Anyway, $10K worht coins are a lot and I hope customer support response and help to recover his funds.

Sorry to hear that OP.

Yup 10k it’s too much. I’ve lost 200-300 dollars in my case, it’s nothing in compare with this. Hope the exchange support will help this guy!

[logfiles]

every other exchange I know uses 1 eth for all assets

Most do but recovering wrongly sent funds must be something hard for them to do. But try talking your luck with the support though your chances are very low. I don't remember a case where someone successful recovered their money.

[malevolent]

Keep contacting them everywhere you can and don't give up easily. $10k might be enough to try legal action if you can figure out which jurisdiction is applicable. Kraken could at least state how much they want to charge to recover the funds and do it once in a quarter to a batch of users.

[AB de Royse777]

Keep contacting them everywhere you can and don't give up easily. $10k might be enough to try legal action if you can figure out which jurisdiction is applicable. Kraken could at least state how much they want to charge to recover the funds and do it once in a quarter to a batch of users.

It's a risky job for them. To recover this amount they have few hundred thousands dollar worth of coins will be at stake. Depending on their setting it could be very complicated because I am sure in their cold wallet not one person is holding the keys. But again for a person, $10k is a very good amount of money. And considering this, I hope Kraken will take the risk and help the user to recover his fund.

Most do but recovering wrongly sent funds must be something hard for them to do. But try talking your luck with the support though your chances are very low. I don't remember a case where someone successful recovered their money.

I too do not remember any such cases to be resolved but again I have never seen such amount too. So best of luck.

[malevolent]

It's a risky job for them. To recover this amount they have few hundred thousands dollar worth of coins will be at stake. Depending on their setting it could be very complicated because I am sure in their cold wallet not one person is holding the keys. But again for a person, $10k is a very good amount of money. And considering this, I hope Kraken will take the risk and help the user to recover his fund.

There are exchanges that will recover funds, maybe not necessarily straight away or for free, but recover they will. A bigger exchange should have the resources to account for occasional asset recoveries, and if they don't - they could charge the user for their mistakes, just not 100%

[Bttzed03]

It's a risky job for them. To recover this amount they have few hundred thousands dollar worth of coins will be at stake. Depending on their setting it could be very complicated because I am sure in their cold wallet not one person is holding the keys. But again for a person, $10k is a very good amount of money. And considering this, I hope Kraken will take the risk and help the user to recover his fund.

There are exchanges that will recover funds, maybe not necessarily straight away or for free, but recover they will. A bigger exchange should have the resources to account for occasional asset recoveries, and if they don't - they could charge the user for their mistakes, just not 100%

Will it not affect transactions of ethereum and tokens on their platform if they do this? I mean suspending deposit/withdrawal. I'm comparing it to what they usually do whenever they have scheduled/sudden maintenance in cases like token developer makes some changes.

I agree that they should charge fees for fund recoveries.

[joniboini]

There are exchanges that will recover funds, maybe not necessarily straight away or for free, but recover they will. A bigger exchange should have the resources to account for occasional asset recoveries, and if they don't - they could charge the user for their mistakes, just not 100%

If they don't support DAI natively, maybe they can send USDT for, let's say, 10% fee or so. Not sure how easy it is for them but it will probably decrease the risk a little bit.

I agree that they should charge fees for fund recoveries.

Only for some big transactions maybe. Pretty sure they won't bother with something less than $1k since it is not going to worth their time. And users should be careful in the first place, so it's not exactly their problem too.

[examplens]

In his TOS is clearly emphasized, "No, you cannot deposit ERC-20 tokens to your ETH deposit addresses on your Kraken account." https://support.kraken.com/hc/en-us/articles/360048128112
therefore they have no obligation to do anything here. Also, they can't do anything with these tokens because that would be some kind of theft.

I agree that they should charge fees for fund recoveries.

Only for some big transactions maybe. Pretty sure they won't bother with something less than $1k since it is not going to worth their time. And users should be careful in the first place, so it's not exactly their problem too.

if they wanted to spend time on such things, they would not set such a deposit condition.
Also, I understand when they don't want to share private keys. I can imagine how many cases there would be with stolen PK, and it would be very difficult to prove who is to blame for it.

[AB de Royse777]

A bigger exchange should have the resources to account for occasional asset recoveries, and if they don't - they could charge the user for their mistakes, just not 100%

While charging 100% sucks but charge a little amount do make sense. I imagine the recovery process for a big exchange or business is not easy. Maybe they have protocols before accessing it, have permission from this department, that department etc, I don't know how they operate but a risk of exposing the seed or private key is always there.

Will it not affect transactions of ethereum and tokens on their platform if they do this?

It should not, the public key should always receive the token/coin. Maybe at that time they will disable all the withdrawal is my best guess.

[Bttzed03]

Will it not affect transactions of ethereum and tokens on their platform if they do this?

It should not, the public key should always receive the token/coin. Maybe at that time they will disable all the withdrawal is my best guess.

Yeah, withdrawal will most likely be suspended. 

In his TOS is clearly emphasized, "No, you cannot deposit ERC-20 tokens to your ETH deposit addresses on your Kraken account." https://support.kraken.com/hc/en-us/articles/360048128112
therefore they have no obligation to do anything here. Also, they can't do anything with these tokens because that would be some kind of theft.

~
if they wanted to spend time on such things, they would not set such a deposit condition.

I don't know. Maybe what Tether did when they helped refund $1 Million USDT wrongly sent to a DeFi contract address and Binance refunding BNB that will be sent to BSC thru the BNB Pioneer Program will change how these centralized coins and exchanges handle these things in the future. Perhaps OP just needs to push more for his DAI to be returned.

[funcho]

Update ... no refund

Who helps me with legal actions
Im based in Europe , kraken usa

[blockman]

Update ... no refund

Who helps me with legal actions
Im based in Europe , kraken usa

I'm sorry with that. I do think that it's technically possible for them to retrieve your fund but I have noticed that popular exchanges are including it to their TOS that, if a user accidentally sent funds to the wrong address, they can't do anything with that. Just a usual business matter and ruling. And if this will go into a legal battle, maybe it will cost you more but still, I wish that this could be resolved through talks and consideration from Kraken.

[funcho]

and here is the thing .,.. its not a wrong adresss funds arrived at an address the exchange provided to me and the native blockchain is ethereum which handles dai