USDC / USDC.e - Arbitrum One

[Biohazard1]

I have been depositing to BC.Game regularly from my Crypto.com wallet, using USDC on the Arbitrum One network with no issues.

I finally made my first withdrawal last night ($~1,200), again USDC on the Arbitrum One network. It was completed successfully, however it has disappeared. Reviewing the blockchain, it looks like BC.Game have sent the bridged token (USDC.e) to the native USDC wallet that I provided. Even though I deposit in the exact same way and this works fine?

I found this post today which explains the issue in more detail: https://www.reddit.com/r/CryptoCurrency/comments/151h8xl/be_extremely_careful_using_usdc_on_arbitrum_there/

BC.Game have an option for a Bridged USDC (USDC.e) Network, as well as Arbitrum One. I selected the latter, and there is absolutely no reference to 'Bridged' or 'USDC.e' anywhere. Given that I deposit successfully in the same way from CDC, surely they've messed up here?

Is there any way at all I can get this money back? Or is it stranded in this USDC.e wallet forever? Has anyone else experienced anything similar?

I've contacted both CDC and BC support, but neither has given me any success so far.

Thanks in advance for any help or guidance.

[Nwada001]

I guess you are familiar with the blockchain and how things work. If what you were given is truly the bridge USDC, then you have nothing to worry about as they are tradeable on the market, but their pairs are only available on Dex, no CEX listed them that I am aware of. You can use UniswapV3  to swap it to your known USDC. You will have to open the token explorer so that you can see the bridge USDC contract address, and then you will use it to search for it on the Uniswap exchange, as not all coins and tokens can be searched using just the name alone.

[Biohazard1]

I guess you are familiar with the blockchain and how things work. If what you were given is truly the bridge USDC, then you have nothing to worry about as they are tradeable on the market, but their pairs are only available on Dex, no CEX listed them that I am aware of. You can use UniswapV3 to swap it to your known USDC. You will have to open the token explorer so that you can see the bridge USDC contract address, and then you will use it to search for it on the Uniswap exchange, as not all coins and tokens can be searched using just the name alone.

Hi Nwada, thanks so much for your response. This gives me slightly more peace of mind. I am definitely a novice when it comes to the blockchain - I can broadly navigate around and track my own transactions, but that's about it.

With that in mind, here are some stupid questions below. I used the explorer to get the contract address, and I put this into Uniswap and it correctly identified it as Bridged USDC, but:
1) What wallet do I connect to? I can't see any option for CDC, for example (again, sorry for my ignorance here, I know this is a CEX)
2) How do I evidence that this transaction / USDC.e is even mine?
3) Presuming I have answers to the above and can proceed, it doesn't seem to let me choose a token to swap it to, it also seems to be stuck on TO USDC.e rather than the other way around
4) Let's say, again, I can get past all of the above, how do I then get it to reach my CDC wallet?

Thanks again, I've been worrying about this all day, so it's nice to get some progress.

[@sriyan]

I have been depositing to BC.Game regularly from my Crypto.com wallet, using USDC on the Arbitrum One network with no issues.

I finally made my first withdrawal last night ($~1,200), again USDC on the Arbitrum One network. It was completed successfully, however it has disappeared. Reviewing the blockchain, it looks like BC.Game have sent the bridged token (USDC.e) to the native USDC wallet that I provided. Even though I deposit in the exact same way and this works fine?

I found this post today which explains the issue in more detail: https://www.reddit.com/r/CryptoCurrency/comments/151h8xl/be_extremely_careful_using_usdc_on_arbitrum_there/

BC.Game have an option for a Bridged USDC (USDC.e) Network, as well as Arbitrum One. I selected the latter, and there is absolutely no reference to 'Bridged' or 'USDC.e' anywhere. Given that I deposit successfully in the same way from CDC, surely they've messed up here?

Is there any way at all I can get this money back? Or is it stranded in this USDC.e wallet forever? Has anyone else experienced anything similar?

I've contacted both CDC and BC support, but neither has given me any success so far.

Thanks in advance for any help or guidance.

You can use the Debank tool to check the transactions. So you can identify what happened to your transaction. What you have to do is enter your wallet address and check the incoming and outgoing transactions on the Arbitrum One network.

[Biohazard1]

I have been depositing to BC.Game regularly from my Crypto.com wallet, using USDC on the Arbitrum One network with no issues.

I finally made my first withdrawal last night ($~1,200), again USDC on the Arbitrum One network. It was completed successfully, however it has disappeared. Reviewing the blockchain, it looks like BC.Game have sent the bridged token (USDC.e) to the native USDC wallet that I provided. Even though I deposit in the exact same way and this works fine?

I found this post today which explains the issue in more detail: https://www.reddit.com/r/CryptoCurrency/comments/151h8xl/be_extremely_careful_using_usdc_on_arbitrum_there/

BC.Game have an option for a Bridged USDC (USDC.e) Network, as well as Arbitrum One. I selected the latter, and there is absolutely no reference to 'Bridged' or 'USDC.e' anywhere. Given that I deposit successfully in the same way from CDC, surely they've messed up here?

Is there any way at all I can get this money back? Or is it stranded in this USDC.e wallet forever? Has anyone else experienced anything similar?

I've contacted both CDC and BC support, but neither has given me any success so far.

Thanks in advance for any help or guidance.

You can use the Debank tool to check the transactions. So you can identify what happened to your transaction. What you have to do is enter your wallet address and check the incoming and outgoing transactions on the Arbitrum One network.

Hi Sriyan. I know what happened to the transaction already, it's access to the funds that I'm after. For clarity, it never reached my CDC wallet as they don't accept USDC.e deposits.

Their customer service got back to me today and said they'd get the funds refunded back to the sender for $100. Should I take this, or pursue the Uniswap option?

Any guidance on the latter would be very much appreciated.

[Biohazard1]

The biggest area of confusion I have here is, how do I 'claim' the USDC.e token into my DEX wallet? Right now it's just sitting there under an address. If I'm to convert this using a swap to Eth / USDC, I need to add it to the wallet first, right? How do I do this? Surely if that's possible, anyone could do it? What am I missing here?

[tvplus006]

The biggest area of confusion I have here is, how do I 'claim' the USDC.e token into my DEX wallet? Right now it's just sitting there under an address. If I'm to convert this using a swap to Eth / USDC, I need to add it to the wallet first, right? How do I do this? Surely if that's possible, anyone could do it? What am I missing here?

You need to open the arbiscan and copy the contract address of the coin you received. Then paste the address of this contract to DEX for swap and exchange it for the asset you are interested in. You can add the same contact address to your wallet in order for it to be displayed there.