I Lost Funds When Transferring To Coinbase Because Of Wrong Network

[Anderson0077]

I transferred $500 worth of BTC from Coinbase to an online casino. No problems.
After several weeks of gambling, with a $48 profit, I withdrew the funds into my Coinbase BTC account.
I received a Warning notice from Coinbase saying that I need to use the correct network or I could lose my funds.
However, there were no options available when I made the transfer.
It's been several days, and all the money has been withdrawn from my online casino account, but I didn't receive it in my Coinbase account.

I've never experienced this before. Is this new?

https://postimg.cc/JtvgzRVJ

[seoincorporation]

I transferred $500 worth of BTC from Coinbase to an online casino. No problems.
After several weeks of gambling, with a $48 profit, I withdrew the funds into my Coinbase BTC account.
I received a Warning notice from Coinbase saying that I need to use the correct network or I could lose my funds.
However, there were no options available when I made the transfer.
It's been several days, and all the money has been withdrawn from my online casino account, but I didn't receive it in my Coinbase account.

I've never experienced this before. Is this new?

https://postimg.cc/JtvgzRVJ

That's weird, if you send it to a bitcoin address then the coind should be in that address, and if you send it to another network but to a bitcoin address, then the exchange should have the private key to that address, so, they should be able to recover those coins.

But is weird, the exchange should give a warning, something like "not valid address", i mean, you can't send BTC to a Dogecoin Address (That's just an example), But contact support on Coinbase, for sure they should be able to help you.

[X-ray]

can't really say much since the info is limited and there's no tx, but I think most of CEX right now accepts BTC deposit from bitcoin's blockchain and altcoin blockchain.

for example, some CEX also accept BTC deposit through BSC which in a nutshell just ERC20 token pegged to BTC which of course you know it carries the risk on its own.

I think since you mentioned that there's no other network option, wrong network shouldn't be possible, you should just contact their customer support and also recheck the address deposit whether it's right or not.

[Charles-Tim]

Coinbase.com?

If he wants to contact their customer care, he should not mention anything like gambling.

Always read the terms of service of exchanges before using them. Coinbase.com against gambling.

Withdraw first to your noncustodial wallet next time.

[iszo]

that’s tough
unfortunately if you used the wrong network, there’s not much you can do
now if their app is broken, maybe reach out to Coinbase support and you might be able to get your btc back if they admit they messed up

[odolvlobo]

It's been several days, and all the money has been withdrawn from my online casino account, but I didn't receive it in my Coinbase account.

They may be show the warning for all deposits. BTC is unlikely to have this kind of problem. If you don't mind giving up some privacy, tell us the address you sent to or the txid so we can take a look.

[FinneysTrueVision]

I am not aware of any other blockchain where Coinbase uses the same address format as Bitcoin so it would be hard to send BTC on the wrong network if you withdrew from the casino on the BTC chain. We need further details to understand what exactly happened because the warning message is just a precaution to prevent you from making mistakes. It does not necessarily mean that you sent coins on the wrong network. If you look up your deposit address on a block explorer like mempool.space, it should tell you if your funds were received by Coinbase or not. You should also check your withdrawal history at the casino to see if sent your coins to the right address.

[fruktik]

Yes, the exchange is obliged to warn that the network is chosen incorrectly or that one should be extremely careful when choosing it. A very strange situation, however. I can still understand if I made a mistake when choosing a network (for example, the USDT network of Ethereum and Tron), but here is the case. I strongly recommend contacting the technical support of the exchange and casino so that they can consider this problem and give specific steps to solve it. Money cannot just disappear. This is banal theft.

[EluguHcman]

I transferred $500 worth of BTC from Coinbase to an online casino. No problems.
After several weeks of gambling, with a $48 profit, I withdrew the funds into my Coinbase BTC account.
I received a Warning notice from Coinbase saying that I need to use the correct network or I could lose my funds.
However, there were no options available when I made the transfer.
It's been several days, and all the money has been withdrawn from my online casino account, but I didn't receive it in my Coinbase account.

I've never experienced this before. Is this new?

https://postimg.cc/JtvgzRVJ

It is complicating to relate with this complain because network on Bitcoin transactions are very essential since transactions are being processed in the Blockchains and that is where there are varies of transaction fees depending on choice of selected na network after successful transactions is made.

So I don't know how you have been executing other transactions without the option of "preferred or select transaction network".

[Smack That Ace]

I transferred $500 worth of BTC from Coinbase to an online casino. No problems.
After several weeks of gambling, with a $48 profit, I withdrew the funds into my Coinbase BTC account.
I received a Warning notice from Coinbase saying that I need to use the correct network or I could lose my funds.
However, there were no options available when I made the transfer.
It's been several days, and all the money has been withdrawn from my online casino account, but I didn't receive it in my Coinbase account.

I've never experienced this before. Is this new?

https://postimg.cc/JtvgzRVJ

That's weird, if you send it to a bitcoin address then the coind should be in that address, and if you send it to another network but to a bitcoin address, then the exchange should have the private key to that address, so, they should be able to recover those coins.

But is weird, the exchange should give a warning, something like "not valid address", i mean, you can't send BTC to a Dogecoin Address (That's just an example), But contact support on Coinbase, for sure they should be able to help you.

You are right, even if we transfer bitcoin to the wrong network, our bitcoin will still be transferred to Coinbase wallet. But the thing is, this is a rule, and they have warned and emphasized this to users before. If the user is wrong, the user is fully responsible and they will not help to get those bitcoins back even though they can do it easily.

This is the rule of most centralized exchanges for all coins, not just Bitcoin and Coinbase, and if we are careless, we will pay the price for our actions.

Yes, the only thing OP can do is contact the exchange support but I don't think they will help him since that is already the exchange policy. I have met some people in the same situation as OP on other exchanges but it seems they can't get their money back either.

[memehunter]

Please share the transaction ID from your casino cash-out page. It will help us understand your situation more clearly. It is always good to double check the wallet and network. As the warning is showing it is better to transfer small amount first then proceed with whole amount.

[Zaguru12]

I transferred $500 worth of BTC from Coinbase to an online casino. No problems.
After several weeks of gambling, with a $48 profit, I withdrew the funds into my Coinbase BTC account.
I received a Warning notice from Coinbase saying that I need to use the correct network or I could lose my funds.
However, there were no options available when I made the transfer.
It's been several days, and all the money has been withdrawn from my online casino account, but I didn't receive it in my Coinbase account.

I've never experienced this before. Is this new?

https://postimg.cc/JtvgzRVJ

There is nothing here mate, that warning is usually there for all withdrawals or deposit of cryptocurrency. This is at times doesn’t matter to bitcoin network except when the exchange actually accepts two or more bitcoin type of address. For example if coinbase only allows withdrawal to legacy addresses only (address starting with 1) then you need not to copy any type of address form as receiving address other than that starting with 1 otherwise you might be at the risk of losing your funds. But if you’ve been sending to this particular address before then it is the network.

Coinbase are fond of using low fee to send transactions so there is high possibility that the fee is also low this time therefor hindering the possibility of getting the transaction confirmed fast. How to know if it is the network and copy the transaction hash and go to mempool.space or any blockchain explorer and see the details of the Transaction to see if it is still pending or not

[Riceandbean]

I transferred $500 worth of BTC from Coinbase to an online casino. No problems.
After several weeks of gambling, with a $48 profit, I withdrew the funds into my Coinbase BTC account.
I received a Warning notice from Coinbase saying that I need to use the correct network or I could lose my funds.
However, there were no options available when I made the transfer.
It's been several days, and all the money has been withdrawn from my online casino account, but I didn't receive it in my Coinbase account.

I've never experienced this before. Is this new?

https://postimg.cc/JtvgzRVJ

I suspect that the casino wallet API settings are wrong and send your BTC to the wrong network

[Dailyscript]

This is one advantage of not reading. Whenever we are transferring funds we should check the writeups in the platform because they always keep a note. Either you see; a minimum deposit of $10 dollars and send to the correct network, assets sent to the wrong network will be lost.

Anyone who skips to read all this may end up making mistake in the end. Each exchange has their own set of instructions that is why we must read their terms and conditions as as well pay attention to every details in the exchange.

[Smartvirus]

It's been several days, and all the money has been withdrawn from my online casino account, but I didn't receive it in my Coinbase account.

I've never experienced this before. Is this new?

https://postimg.cc/JtvgzRVJ

Apparently, you copied the wrong link and as such, users can’t even aid you in quoting your image such that, it’s visible on the forum. Just in case of next time, you could always copy the BBcodes and that would allow users to aid you in quoting for visibility.

Sadly, you were warned and you didn’t take heed or did anything to its effect such as, having to verify on what was to be done.
I guess your confusing which led to your go was the lack of options which could be a glitch in the system that needed few minutes to clear out. You might have to suck this one up, its a hard choice and you’ve got to manage it good.

[SamReomo]

This is one advantage of not reading. Whenever we are transferring funds we should check the writeups in the platform because they always keep a note. Either you see; a minimum deposit of $10 dollars and send to the correct network, assets sent to the wrong network will be lost.

I agree, it's important to read the instructions and warnings of exchanges and other platforms to be safe from mistakes. I guess OP has avoided reading of the information available on the exchange and that's why he/she has made deposit in wrong network. OP, my suggestion for you is to contact the support team of the exchange and see what response you get.

[Dr.Bitcoin_Strange]

I wonder how possible and true this narrative is because Bitcoin only has one network. If you are sending Bitcoin to a different platform, they could either show you to receive with sigwet address or Bitcoin address and if you used any of the two address to receive your coins, it should be deposited to the exchange, unless you withdraw USDT to a different chain. I think you should confirm first and then contact the exchange.

[rachael9385]

I transferred $500 worth of BTC from Coinbase to an online casino. No problems.
After several weeks of gambling, with a $48 profit, I withdrew the funds into my Coinbase BTC account.
I received a Warning notice from Coinbase saying that I need to use the correct network or I could lose my funds.
However, there were no options available when I made the transfer.
It's been several days, and all the money has been withdrawn from my online casino account, but I didn't receive it in my Coinbase account.

I've never experienced this before. Is this new?

https://postimg.cc/JtvgzRVJ

As a crypto newbie you need to be careful anytime you want to make any transportation so that you won't end up losing your little/huge coin to the air. However I could remember a female friend of mine that lost $250 because of a memo tag. Earlier this year or some months back ToN network was free when you want to use it for USDT or BTC transactions but after some time they added charges to it, (whichmeans in some exchanges you can no longer use it for free). So she sent usdt with ton network but she didn't include the memo tag and the transaction was stocked and she didn't know what to do. But I told her what and what she could do to get back some of her money. Am just trying to say that whenever we want to make any transaction we should be careful so as not to send it to a wrong address.

[coolcoinz]

You probably, somehow, chose a similar address to bitcoin, like bitcoin cash, and deposited your BTC there. If this was a private address, like if you sent money to a friend, this would be possible to recover because you can import a bitcoin wallet to a bitcoin cash wallet, but exchanges don't bother to help their customers like that. They probably do recover these funds, but for themselves. They won't waste their time helping you, especially over a small amount of money, but you can be sure that if it's $100k missing, someone will find time to get that out

[Potato Chips]

As pointed out, best to check the transaction sent first or if they actually sent it. Sometimes some services would publish a transaction ID in user accounts but would take awhile to broadcast it as well.

I would recommend blockchair.com for this because it supports several blockchains hence a general search on the homepage would return result with a matching chain/s. It'd be easier for you.