Sent BTC: Binance to Trezor- Completed status however no coins

[jeremyanalytics]

Hi Everyone hoping anybody can help me out!

BTC was sent from a Binance account to my Trezor. Binance generated the receipt showing Completed however no coins arrived and the TxID generated from Binance is nowhere to be found on any Blockchain explorers. The receiving wallet on Trezor is a bc1 (Segwit), it is not faulty - has received BTC pre and post this anomaly.

Few days later Binance sent a notification to the sender advising them that they sent the BTC on the wrong network and Binance cannot recover the coins.

Please help!

How do I go about either pulling the BTC through to my Trezor or have it bounce back to the sender.
This is all my savings on the line and more, so hoping somebody can help me!

I tried setting up Electrum on all the different networks available and linked to my Trezor however it doesn't bring up anything. Cant even see my existing coins on it despite setting up a Segwit wallet also? Perhaps Im doing something wrong, can anyone help me please?

[dkbit98]

BTC was sent from a Binance account to my Trezor. Binance generated the receipt showing Completed however no coins arrived and the TxID generated from Binance is nowhere to be found on any Blockchain explorers. The receiving wallet on Trezor is a bc1 (Segwit), it is not faulty - has received BTC pre and post this anomaly.

You need to double check history in your Binance account and find exact transaction and receiving address, because Binance can show completed info only if everything was done correctly.
Anything that is held as wrapped tokens in binance or ethereum chain is not really bitcoin.

How do I go about either pulling the BTC through to my Trezor or have it bounce back to the sender.

There is no way to ''bounce back'' anything.
Only way is to established correct receiving address and balance.

I tried setting up Electrum on all the different networks available and linked to my Trezor however it doesn't bring up anything. Cant even see my existing coins on it despite setting up a Segwit wallet also? Perhaps Im doing something wrong, can anyone help me please?

You are doing many things wrong and you didn't post exact information and addresses you used for sending/receiving, so nobody can help you more until you do this.
In Trezor Suite there is now several Bitcoin address formats, legacy, legacy segwit, segwit and taproot, so try enabling that in accounts settings.
You should choose Segwit BIP84, bech32 (bc1)

[jeremyanalytics]

The receiving address is and was correct, the receiving wallet address is on blockchain and can see all transactions (except for this one!)

What has happened, and confirmed by Binance; is that the sender selected an incorrect "Network".

The receiving wallet is a bc1 address which makes it a Segwit Bech32 but the sender sent the BTC selecting BTC network.

[Charles-Tim]

The receiving wallet is a bc1 address which makes it a Segwit Bech32 but the sender sent the BTC selecting BTC network.

Are you the sender? If not, tell the sender to send you the txid. This can be privacy depriving but it will be good to let use track it for you. Paste here your Trezor receiving address and the txid from the send. Or, for privacy, make sure the receiving address is correct with your Trezor address before making conclusion.If the address is correct and sent to bitcoin network, then it should have been confirmed and appear on your Trezor balance.

[jeremyanalytics]

Thanks Charles-Tim very informative
I am in the process of finding out what Network they selected.

Yes on the receipt which shows the TxID, the wallet address on there is correct and definitely ok.

What to me is unexplainable however is that the TxID is not existent on any Blockchain Explorer... does this sound possible if Binance confirmes the transaction was completed form their end... despite choosing the wrong network?

Can you recommend or instruct me how I can go about accessing the coin if its simply waiting for me to connect to and extract. Im not too technically savvy in this department.

[Charles-Tim]

What to me is unexplainable however is that the TxID is not existent on any Blockchain Explorer... does this sound possible if Binance confirmes the transaction was completed form their end... despite choosing the wrong network?

It is not possible, you will be able to see the txid and you will be able to track it on blockchain explorer. Likely the sender is deceiving you, I guess. Or he should send the correct txid.

[LoyceV]

Binance loves confusing people, so they chose their own made-up tokens instead of real Bitcoins. However, if you say it's send on the BTC network, and it's going to a bc1-address, it sounds all okay to me.

What I'm wondering about now is: if it's all your savings, how did it end up on what sounds like someone else's Binance account? Any chance that person is trying to screw you over?

[Charles-Tim]

Binance loves confusing people, so they chose their own made-up tokens instead of real Bitcoins. However, if you say it's send on the BTC network, and it's going to a bc1-address, it sounds all okay to me.

I have posted this before I deleted it, but I think its in accordance to what you meant

Few days later Binance sent a notification to the sender advising them that they sent the BTC on the wrong network and Binance cannot recover the coins.

There are 4 networks you can send bitcoin to on binance:

3. The bitcoin
4. ERC20
2. Binance Smart Chain, BSC (BEP20)
1. Binance Chain (BEP2)

But know that the 'bitcoin network' is the original, all others are not actually bitcoin because they are not using bitcoin blockchain but just pegged with bitcoin.

Which one of the four did you send the coin to?

On binance, I hope the sender clicked on wallet -> spot -> and on a 'book-like with a clock' icon at the upper right side that will take you to the history -> then clicking on withdrawal. The withdrawal transaction history will be seen and the txid and the address involved can be seen there. Check is the address is correct with yours.

If you send to the right address that you owned. You will still be able to recover back you fund. But you will have to use a wallet that is compatible with the chain used to connect to Trezor if not appearing.

I will advice you to send directly to bitcoin addresses next time (addresses that start from 1, 3 or bc1) directly instead of others that are not actually bitcoin chain. I wonder why binance put BEP2 and BEP20 above Bitcoin Chain.

But I deleted it when jeremyanalytics mentioned it is bc1 address. It is true that Binance is making it confusing.

[jeremyanalytics]

Pardon my ignorance and appreciate the help and patience with me... so just to clarify; you all are saying that if a TxID is produced, then regardless of what network it was sent on then it will always be available to be searched on Blockchain explorer?

I was under the impression that due to the incorrect Network choice that the TxID is simply a Binance generated ID that hasnt been accepted onto Blockchain as the address it was going to was not part of the Network it was sent to?

[LoyceV]

I'm not familiair with Binance's own made-up chains (which look like exit scams waiting to happen), but I'm pretty sure there will be a block explorer for it.
However, Binance's "internal transaction ID" might be different. When I make a (real!) Bitcoin withdrawal from Binance, it shows a link to a block explorer. Just clicking it is enough to lookup the transaction.

[DaveF]

If you can get the TXID and it's not on the BTC network here are some explorers for the other chains:

Binance Smart Chain Explorer (bsc) = https://bscscan.com/
Binance Chain (BEP2) Explorer = https://binance.mintscan.io/

As others have stated without the TXID or even knowing what chain they sent it on you don't know if the other people ever really sent it.
But if they did not send it on the BTC network then the coins are probably lost forever.

-Dave

[LoyceV]

Allow me to combine those 2 posts:

they sent the BTC on the wrong network and Binance cannot recover the coins.

But if they did not send it on the BTC network then the coins are probably lost forever.

If that's the excuse Binance uses, it's utter BS! Binance made up their own tokens that they sell as "equivalent" for real Bitcoin. Binance owns the real Bitcoin, and they can do as they please with it. If coins are "lost" on their own chain, that doesn't mean the real Bitcoin it lost, it means Binance takes ownership of the equivalent amount of real Bitcoin!

I wonder why binance put BEP2 and BEP20 above Bitcoin Chain.

I'd say the scenario above explains it. Did I mention it's an exit scam waiting to happen?

Lost coins only make everyone else's coins worth slightly more.  Think of it as a donation to everyone.

Lost "wrapped Bitcoins" are a donation to Binance.

[PawGo]

I wonder why binance put BEP2 and BEP20 above Bitcoin Chain.

I'd say the scenario above explains it. Did I mention it's an exit scam waiting to happen?

I must admit you may be right. This is the kind of situation where you benefit from someone's carelessness. Or you just wait for someone's mistake - and sooner or later it happens.

I would say it is similar to all that 'privacy statement pop-ups', which no-one reads and just click next, next, confirm.

[suzanne5223]

they sent the BTC on the wrong network and Binance cannot recover the coins.

A lot of weird things is happening with every service rendered by Binance first it was their CMC that got hacked twice this year and now sending a transaction to the wrong network is the new one.
To get to the bottom of this, What is the network the transaction is sent to? Where's the tx ID?

Or else there's no way to find a solution to the issue.

[hosseinimr93]

Sending bitcoin to a wrong chain is possible only when dealing with BSC and ERC20 networks.
Addresses on binance Chain start with bnb. Addresses on ethereum network (ERC20) and addresses on Binance Smart Chain (BSC) start with 0x.

Since the transaction has been made to an address starting with bc1 (a real bitcoin address), it's impossible that the transaction has been made on a wrong chain.
In the case of using a wrong chain, you should get an error.

[o_e_l_e_o]

Could this also be a BTC/Bcash mix up?

so just to clarify; you all are saying that if a TxID is produced, then regardless of what network it was sent on then it will always be available to be searched on Blockchain explorer?

It will be able to be searched on a blockchain explorer, but not a bitcoin blockchain explorer. You'll need to identify exactly what network it was sent over and then look up the transaction on a blockchain explorer specific for that network.

Sending bitcoin to a wrong chain is possible only when dealing with BSC and ERC20 networks.

Then why do they even offer those options? If, when withdrawing bitcoin you can only withdraw it using the bitcoin network and not with their made up shitcoin networks, then why even show the made up shitcoin networks if not to deliberately confuse people?

[hosseinimr93]

If, when withdrawing bitcoin you can only withdraw it using the bitcoin network and not with their made up shitcoin networks, then why even show the made up shitcoin networks if not to deliberately confuse people?

They allow users to withdraw bitcoin on any of available networks.

When you buy bitcoin on binance, you buy bitcoin. It's not that you can buy real bitcoin, ERC20 bitcoin, BSC bitcoin, etc. There's only one option when buying bitcoin.
When you withdraw bitcoin, there are four networks. One of them is BTC and the other three one are their fake coins.

If you select BSC, BNB or ETH as the network and enter a bitcoin address, due to the difference in addresses format, you cannot withdraw.

Look at the image below.
It shows how they deceive people to use their fake coins.



Many people prefer to withdraw fake coins instead of bitcoin without knowing they won't receive real bitcoin.
They think in this way they can get discount for withdrawal fee. So, they create a wallet supporting those shitcoins and make a withdrawal to that.

[Charles-Tim]

Sending bitcoin to a wrong chain is possible only when dealing with BSC and ERC20 networks.

This is absolutely right but having the seed phrase can still be a perfect option for recovery, because importing ethereum wallet seed phrase on the BSC supported wallet will make it possible for the person to be able to spend the coin. But the worst case would be when someone send it on BSC network to a custodial wallet or custodial exchange that does not support BSC thinking it is ERC20. Possibly many people would have lost their coin just this way.

Then why do they even offer those options? If, when withdrawing bitcoin you can only withdraw it using the bitcoin network and not with their made up shitcoin networks, then why even show the made up shitcoin networks if not to deliberately confuse people?

This will actually confuse newbies that do not know much about bitcoin and altcoins. The ERC20 are for altcoins like wBTC, RenBTC and others like that on ERC20 networks, while BEP2 (binance chain) is also similar. But I do not know the reason for binance smart chain, BSC (BEP20) other than reduced transaction fee, but which many people would have lost their coins by sending on BSC to another custodial wallet or custodial exchange thinking it is ERC20. And nevertheless, they are not bitcoin, they are actually all altcoins just like you are implying but pegged with bitcoin (they are fake bitcoins).

[o_e_l_e_o]

-snip-

Wow. So if you select one of the fake networks to withdraw on, Binance will automatically sell your bitcoin, use the proceeds to buy a fake token, and then let you withdraw that, all automatically and in the background without giving a warning explaining what is going on? As far as I am concerned, that is a scam. And let's not touch on the fact that Binance are still charging 50,000 sats for a transaction which costs them a few hundred.

So you are saying that provided OP's friend definitely gave a bitcoin address to Binance, it would have been impossible for him to withdraw to one of the other networks? So why then in OP's first post does he say Binance said coins were withdrawn on the wrong network?

OP, can you share the address and transaction ID?

[hosseinimr93]

.........all automatically and in the background without giving a warning explaining what is going on?

Yes.
They give the user tokens that are generated out of the thin air without telling them that's not bitcoin.
See their guide on how to withdraw from binance.
They don't say anything about the difference between networks at all.

The only warning is:

Please make sure that the selected network is the same as the network of the platform you are withdrawing funds from or depositing funds to. If you select the wrong network, you will lose your funds.

A newbie reading this guide will surely think that there are four kinds of bitcoin networks.

And let's not touch on the fact that Binance are still charging 50,000 sats for a transaction which costs them a few hundred.

That's also a means of encouraging people to use their fake networks.

So you are saying that provided OP's friend definitely gave a bitcoin address to Binance, it would have been impossible for him to withdraw to one of the other networks?

Yes.

So why then in OP's first post does he say Binance said coins were withdrawn on the wrong network?

That can't be true.

To make sure about this, I just selected BSC network and entered a bitcoin address.



The network was automatically changed to BTC.

As I already said, sending bitcoin on a wrong chain is possible only if you use ERC20 or BSC networks. Because they have same address format.