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Question: Does anyone know if an ERC20 coin would be recoverable from an ETH wallet?
Yes - 6 (75%)
No - 2 (25%)
Total Voters: 8

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Author Topic: Cross chain transactions - coin recovery process  (Read 184 times)
tntlove
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May 23, 2021, 06:07:45 AM
 #1

I made the stupidest mistake of sending my HEX coins to my ETH exchange wallet thinking it was transferring as ETH  Shocked

Does anyone know if there is a high chance of recovering these coins through the exchange? They are in the process of doing this now. HEX is an ERC20 token and I was hoping that because of this it would be able to be recovered from the ETH wallet. Undecided

Why is it such a time consuming and risky task?
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May 24, 2021, 10:07:20 AM
 #2


Fixing mistakes will always take a lot of time, because everyone is always trained to be more thorough in understanding everything in the crypto space so as not to make mistakes, and if it's dealing with the exchange, then you must always be connected with the exchange so that your problem can be finished, hopefully this can be a valuable lesson for you.
[/quote]

Yes, this is indeed a very valuable lesson. I was so stupid because I usually always send a small amount first to make sure it receives ok in the wallet but this time unfortunately it was a rather large amount. Do you mean to always be connected in the terms of communicating with them constantly?
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May 25, 2021, 11:36:44 PM
 #3

Do you think it sounds like it is possible to recover?
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May 25, 2021, 11:51:13 PM
Merited by TimeTeller (1)
 #4

Do you think it sounds like it is possible to recover?

Its possible, but its will cost you many.
1. You need to provide your identity (provide u are the person that own the sender wallet)
2. Pay for gas fee to transfer back
3. Pay the exchange for the assistance fee

If its not big amount its better to forget it.

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May 25, 2021, 11:54:13 PM
Merited by TimeTeller (1)
 #5

Do you think it sounds like it is possible to recover?
The problem is whether the exchange site wanna give your hex back to your account. The gas fees should not be the problem but I should remind you that the exchange site is holding the key to access the wallet that contains your HEX.
Does hex available on the exchange site? if there's HEX pair and it will be automatically deposited into your account as long as that was using the same address like ethereum deposit address.
Have you contacted the exchange site?


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May 25, 2021, 11:54:25 PM
 #6

Do you think it sounds like it is possible to recover?

Its possible, but its will cost you many.
1. You need to provide your identity (provide u are the person that own the sender wallet)
2. Pay for gas fee to transfer back
3. Pay the exchange for the assistance fee

If its not big amount its better to forget it.

And sometimes their response is too long, but if it is a considerable amount, you need to be patient with them.
As mentioned above, there's still hope that you can recover the funds but you need to keep up with their support.
But if it is not worth your time, yes, better forget it, because you will just get a headache of contacting their support.

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May 26, 2021, 02:04:58 AM
 #7

Normally ETH address and address of all ERC20 on the DEX, CEX or personal wallet is the same address, even BSC wallet is the same address with ETH or ERC20 tokens on the personal wallet, like on metamask and trustwallet.
Yes it is however if he used cex exchange that doesn't support the token he sent not sure if the exchange will send it to him since they not supporting it. But from my knowledge they can received the tokens that are sent.

However there are exchanges that doesn't have support for tokens under erc20. We have an exchange app in our local that has eth address, but if you send tokens to it, good bye to your tokens cause its gone.

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May 26, 2021, 02:47:02 AM
 #8

It depends on the exchange policy on sending back your tokens. Some exchange ensures you accent to an agreement clause indicating that you agree to loose your tokens sent to a wrong address. If this policy is in place and hex is not supported by the exchange, then it would be extremely difficult to get back your tokens.

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May 29, 2021, 12:46:50 AM
 #9

Do you think it sounds like it is possible to recover?
The problem is whether the exchange site wanna give your hex back to your account. The gas fees should not be the problem but I should remind you that the exchange site is holding the key to access the wallet that contains your HEX.
Does hex available on the exchange site? if there's HEX pair and it will be automatically deposited into your account as long as that was using the same address like ethereum deposit address.
Have you contacted the exchange site?

Yes I have contacted them and they replied and said it has been submitted to their recovery team and for me to be patient. So just waiting but have no idea how long to expect? I don't want it to fall on their 'to do' pile and it be forgotten about, what do you think is an appropriate time to touch base? No they do not support HEX but they do support ERC20 tokens on their exchange. They have been cooperative and willing so far, so not so much a question of if they will do it but more can they do it?
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May 29, 2021, 02:30:22 AM
 #10

Normally ETH address and address of all ERC20 on the DEX, CEX or personal wallet is the same address, even BSC wallet is the same address with ETH or ERC20 tokens on the personal wallet, like on metamask and trustwallet.
Yes it is however if he used cex exchange that doesn't support the token he sent not sure if the exchange will send it to him since they not supporting it. But from my knowledge they can received the tokens that are sent.

However there are exchanges that doesn't have support for tokens under erc20. We have an exchange app in our local that has eth address, but if you send tokens to it, good bye to your tokens cause its gone.

They don't support that specific token but they do support other ERC20 tokens
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May 29, 2021, 03:29:15 AM
 #11

They don't support that specific token but they do support other ERC20 tokens
Meaning it would go through that eth address but since they don't support it, it will not reflect on your account. We are talking about cex here, can you tell me what exchange it is? Was it a local market app or exchange or a global market for everyone? The token you traded is hex right? Not so many supported exchange but dex could have.

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June 22, 2021, 09:10:39 AM
 #12

They don't support that specific token but they do support other ERC20 tokens
Meaning it would go through that eth address but since they don't support it, it will not reflect on your account. We are talking about cex here, can you tell me what exchange it is? Was it a local market app or exchange or a global market for everyone? The token you traded is hex right? Not so many supported exchange but dex could have.

the exchange is called coinspot australia. not sure what you mean by app, exchange or global market? I sent it from my metamask wallet to the eth wallet on the exchange, via desktop. so theoritically speaking if they don't support the token, they cannot send it back to the address it came from?
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June 22, 2021, 09:53:21 AM
 #13

the exchange is called coinspot australia. not sure what you mean by app, exchange or global market? I sent it from my metamask wallet to the eth wallet on the exchange, via desktop. so theoritically speaking if they don't support the token, they cannot send it back to the address it came from?
Yes, but as many people know that the australian coinspot exchange is not as popular an exchange as the others, so the security side is very questionable by everyone who wants to use it in the long term.

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July 30, 2021, 06:44:40 AM
 #14

Its possible, but its will cost you many.
1. You need to provide your identity (provide u are the person that own the sender wallet)
2. Pay for gas fee to transfer back
3. Pay the exchange for the assistance fee

If its not big amount its better to forget it.
Not all exchanges support customers to recover mistakenly coins were sent. If you don't see they mention about it in FAQs or their zendesk for customer supports. It is bad.

If they support customers, they don't give free support and as you said, expensive assistance fee. If the mistakenly sent coins have low value, let's forget it and try to remember that lesson. Try to avoid the same mistake when you make other transactions in the future.

Checking details of transactions, address, chains, amount does not take too much time.

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July 31, 2021, 03:19:15 AM
 #15

Normally ETH address and address of all ERC20 on the DEX, CEX or personal wallet is the same address, even BSC wallet is the same address with ETH or ERC20 tokens on the personal wallet, like on metamask and trustwallet.
Yes it is however if he used cex exchange that doesn't support the token he sent not sure if the exchange will send it to him since they not supporting it. But from my knowledge they can received the tokens that are sent.

However there are exchanges that doesn't have support for tokens under erc20. We have an exchange app in our local that has eth address, but if you send tokens to it, good bye to your tokens cause its gone.

This one, cex exchange won't bother to help specially if the amount is not that huge, so forget about it. Made the same mistakes as well, it's just about $100 but the exchanges said that they can't help me because they have a threshold account and like equivalent of 1 BTC.

So I just shrugged my shoulders and keep this as a lessons that I should not make in the future. So better double check everything specially with token addresses and names.

.
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July 31, 2021, 02:17:18 PM
 #16

This one, cex exchange won't bother to help specially if the amount is not that huge, so forget about it. Made the same mistakes as well, it's just about $100 but the exchanges said that they can't help me because they have a threshold account
Its so true. I have a friend that loss 1k usd for that kind of mistake and he really cries over it since he just forgot that what he sent has no supported on the exchange even though its still an erc20. It seems there is a process for that. Some wallets supported it but Im not sure why they cant handle it even though the address used was the same. Anyway, just beware for the newbies about it.

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August 09, 2021, 04:41:27 PM
 #17

Some services state in their rules that all responsibility is on us, so they are not going to restore our assets in case of our carelessness. It is a well-known fact that if you send tokens that is not supported in this exchange or wallet, we just lose them. Because they stop being displayed and we can't return them. So I am not sure if you will be able to restore them. Only in case the exchange adds this coin to its website.

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August 29, 2021, 01:48:53 AM
 #18

Its so true. I have a friend that loss 1k usd for that kind of mistake and he really cries over it since he just forgot that what he sent has no supported on the exchange even though its still an erc20. It seems there is a process for that. Some wallets supported it but Im not sure why they cant handle it even though the address used was the same. Anyway, just beware for the newbies about it.
Send ERC20 token to ETH address on exchange is bad. Even that exchange has many ERC20 tokens on that platform, if you send a token that is not listed on that one, you will not get support to retrieve your token. In most of exchanges, they don't support you.

So always check coin name, coin symbol, chain, and address before you make your transactions (deposit or withdrawal). Don't cry because if you are careless and make mistake, you lose your coins.

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August 29, 2021, 02:04:11 AM
 #19

Send ERC20 token to ETH address on exchange is bad. Even that exchange has many ERC20 tokens on that platform, if you send a token that is not listed on that one, you will not get support to retrieve your token. In most of exchanges, they don't support you.
Indeed. Im wondering whats the technical explanation on this, though the token is also a smart contract on eth network. Maybe they will spend a lot just to retrieve it right? Cause Im wondering why they cant, but the problem here is the careless approach of user to send a non supported tokens on the exchange. From there they should know that its wrong to send it on an exchange especially it is not listed there.

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