Please HELP: Sent ETH through Arbitrum instead of ERC20 network - Anything I can

[Goldschmied]

Dear forum members, I need your help. Not sure this is the right place to ask. If it is not, I'd appreciate if you could point me to another forum for this question.

Anyway, here's my question:
I made a very stupid mistake: I wanted to send ETH from Kraken to Deribit. On Deribit I created an ERC20 deposit address. When withdrawing (in Kraken) I made the mistake to select the Arbitrum Nova network instead of Ethereum. Very stupid, I know...Is there anything I can do at this point to recover my ETHs?

[Charles-Tim]

Deribit not supporting Arbitrum layer 2?

There is nothing you can do if Deribit is not supporting Arbitrum network than to contact their customer care. Supposing you sent it to a noncustodial wallet, only what is needed is the seed phrase or private key to have access to your coin.

[OmegaStarScream]

In order for you to recover the funds, you need access to the private keys which is something only the exchange have access to.

Some exchanges have a clear policy as to "what to do" in case the funds are sent to the wrong network, but I can't find any for Deribit. So as mentioned above, you need to reach out to the support team.

[jrrsparkles]

but I can't find any for Deribit. So as mentioned above, you need to reach out to the support team.

They have mentioned that on their ToS page

Using the Wallet on our Platform is at all times at your own risk. We are not liable for loss of Cryptocurrency stored in your Wallet or transferred to or from your Wallet, including, but not limited to, unauthorized access by a third party, loss or violation of your private key or transferring Bitcoin to an Ethereum address.

So I guess this can be considered as a complete loss, OP can try the support if the amount is considerably huge like in few hundred thousands or else there is no chance of recovering them back.

Transferring from custodial platform to custodial platform should be avoided by any crypto user cause we need to get a hold of one end to minimize these kinds of errors.

[johnsaributua]

You are experiencing errors and confusion from layer 1 and layer 2 etreum huh? Hopefully it doesn't get scorched because of the chain error. indeed for ethereum almost all cexes already support especially arbitrum and erc20 like rice and side dishes . Because in my experience it causes delays in crediting. indeed some cexes consider it to be user negligence if you have contacted the cex hopefully there is a solution for you. Because it needs validation and information, indeed every cex has different tos, some even apply a minimum deposit that is too high with the same coin and chain but not credited. Hopefully deribit can take solutive steps, not a matter of nominal but a form of fairness, rights and care because for whatever reason it is not the exchange's ownership rights.

[batang_bitcoin]

Dear forum members, I need your help. Not sure this is the right place to ask. If it is not, I'd appreciate if you could point me to another forum for this question.

Anyway, here's my question:
I made a very stupid mistake: I wanted to send ETH from Kraken to Deribit. On Deribit I created an ERC20 deposit address. When withdrawing (in Kraken) I made the mistake to select the Arbitrum Nova network instead of Ethereum. Very stupid, I know...Is there anything I can do at this point to recover my ETHs?

Only deribit can help you with this. No one has a clear answer here on what you should do, so contacting them is your best option. They can give you some option and you have to pay for their recovery of your fund or, you can't expect anything from them if they say that there's no way to recover that fund you've mistakenly sent to another chain.

[cryptoaddictchie]

Anyway, here's my question:
I made a very stupid mistake: I wanted to send ETH from Kraken to Deribit. On Deribit I created an ERC20 deposit address. When withdrawing (in Kraken) I made the mistake to select the Arbitrum Nova network instead of Ethereum. Very stupid, I know...Is there anything I can do at this point to recover my ETHs?

Well the problem is on Deribit since it seems they dont support L2 eth arbitrum network.

I think all cex exchanges must have an option like on OKX a save universal evm address for all supported network. So far I am using that instead of changing network you want to deposit since its sync probably when you withdraw too.

[Mpamaegbu]

Very stupid, I know...Is there anything I can do at this point to recover my ETHs?

There's nothing you can do now, except count on Deribit to add the right chain. At the moment, it's a loss pending when that happens. Well, I wouldn't call it stupid. This thing happens, even to the rest of us. A few months ago I moved some Arbitrum One to Arbitrum One on Opensea to mint something instead of ETH to Arbitrum. That fund is still hanging till date. I felt bad about that but I've tried to take my mind off it, ATM.

[Goldschmied]

Thanks to all of you for your support.

I have contacted Deribit and their response was:
I have contacted our financial team, and sorry to inform you that Arbitrum Nova transactions are not supported by our hotwallet provider Fireblocks, and as such the transaction is not recoverable.

As it's a substantial sum, I do want to insist a bit more - at least if it's technically feasible for Fireblocks to recover it. Ideally I'd like to put together a detailed explanation how it can be recovered and ask them to relay it to Fireblocks. And I would offer to pay for their troubles.

Is there anyone who can help me with this?

[rat03gopoh]

not a matter of nominal but a form of fairness, rights and care because for whatever reason it is not the exchange's ownership rights.

But an honest exchange won't compromise their own credibility as an exchange that is safe even from insider danger just to recover funds that can't be justified.
Of course they can technically access the private keys they want, but it takes a lot of effort because the private keys are stored in their highly confidential autocontract engines and can only be revealed by extracting them in their entirety. It's like you're looking for 1 white dice among hundreds of thousands of red dice in a large closed container, so to find it you have to pour them all into a spacious place where all the dice will be visible.

If you demand justice, it would be unfair to existing owners of deposited funds if everyone knows that insiders also have a certain degree of danger, especially if they've been on former teams. If the terms say "funds can't be recovered if sent to the wrong address", then it should stay at the same address forever. When one day the funds change address, at that time the owner can demand justice.

[makishart]

As it's a substantial sum, I do want to insist a bit more - at least if it's technically feasible for Fireblocks to recover it. Ideally I'd like to put together a detailed explanation how it can be recovered and ask them to relay it to Fireblocks. And I would offer to pay for their troubles.

You can try that by sending them an email and explain your problem. Im doubting they will able to recover your money but it's worth to try. You can only contact them through their email.

Is there anyone who can help me with this?

Probably none. Fireblocks is the only party who has direct access to your fund. Good luck with it dude.

[adaseb]

These situations are always scary and its pretty much up to the exchange or wallet service that they use.

Some exchanges will recover the funds, because its very common to do, some do it for free while others charge a fee. Its very easy to do, just extract private key from ETH wallet and use it to broadcast the transactions on the ARB chain. The issue here is their hot wallet provider. For security reasons maybe they cannot extract the private key. Or maybe its possible if you just contact them. Good luck to you. This is a horrible situation to be in.