Topic: Be careful with your transactions. - page 2. (Read 354 times)

This clipboard malware is a serious issue, we must exercise extreme caution when attempting to send bitcoin to others. A buddy of mine previously had malware where the copied address was different from the pasted address, causing him to repeatedly transfer bitcoins to the incorrect address. He discovered this after the recipients complained that they had not received the bitcoins.

Transferring cryptocurrency differs from sending fiat because the recipient's name is not supplied and when sent to the wrong address, there is nowhere to file a complaint or get your money back, so it is important to double check the recipient address before sending your bitcoins.

If you want to send bitcoin, you should remain calm and double-check the information, such as the wallet address, network, transaction fee, and other parameters, to prevent sending bitcoin to the wrong recipient. Once you send bitcoin, there is no way to get your money back. We should also exercise caution when using our keyboards because of unidentified virus threats. To ensure that you are sending to the correct address, carefully review the wallet address, paying attention to more than just the prefix and suffix.

The power of knowledge. All I know is that if you sent your bitcoin to the incorrect address, it will be lost; yet, you said that there is a slim chance of recovering it if it was sent to an exchange. Please elaborate.

It's important to understand how bitcoin address work. It is designed in such a way that even if you make an omission in the address the possibility is very low that the transaction will go through. It won't be accepted by miners because it'll be wrong.


Except in a such a situation like clipboard attack. That's the relevance of crosschecking the address. As the attack is increasing with multiple methods by the attacker, they've gotten to the stage of manipulating qr codes as well. Aside that, it's almost impossible for a mistake in an address, make a bitcoin transaction go through successfully.

Going through one’s address and checking it one after the other and not just the beginning and the ending of the address is very important as it will help at least reduce the risk of sending to a wrong address, especially when the device being used is corrupted by clipboard virus as being discussed on this my thread, things are really happening online and we never can be too careful and we don’t know when we are safe again and when we have been infected by some of those viruses.

But the incident of the person who sent a payment with a higher transaction fee I don’t think it was something from his end, but I believe it was a mistake from the wallet developer side, as I don’t think anyone can make such mistake by imputing such large amount for fee and smaller one for transaction volume.

You should make it a habit the most important thing is to set up a habit y of taking your time before making a transaction, I made it a point to spend at least 3 to 5 minutes just looking at the address you're sending I look at the first three characters then the middle then the last three characters.
When it comes to making a transaction an ounce of prevention is better than a pound of cure.

Even though the transaction you referenced is controversial with many saying it was deliberate just to create headlines, I think the entire thing is positive for the Bitcoin community as it shows solidarity and unity among Bitcoiners. Nevertheless, we can never dispel the importance of being extremely careful when carrying out transactions because it is not everyone that can be as generous and considerate as F2pool to refund such huge amount of money. Some will just take it as "miracle money" and a prayer answered  .

they actually returned all the funds to the owner, here's an article talking about the miners returning the funds, there is also a screenshot there showing the transaction.

I am a little paranoid and double-checking and sometimes triple-checking the information on the transactions I make has become a hobby of mine, if you ask me, double-checking your transactions should be the bare minimum for everyone to do. the person who made the mistake of putting $500K as a fee is very lucky that the miners decided to return the funds.

Well, it wasn't a bug in the network, but in whatever bot or automated system that Paxos used to make that transaction. If you use a good software to create your transactions, there is usually a warning if you are about to pay an excessive amount in fees.
F2pool refunded the money back to Paxos a long time ago, and the case is closed already.

People still continue to create topic about this same occurrence:

Ouch, today someone made a transaction with over $500k fee.
Bitcoin User Just Paid Half a Million Dollars for a Single Transaction
A single Bitcoin transaction paid a fee of $500k

Even without this occurrence, another mistake can be from clipboard malware in which the address you copy would be changed by clipboard malware and paste hackers address instead. It is good to recheck and recheck the amount you want to send and the address that you are sending to, making sure that they are correct.

you pointed out well OP and this is much necessary checking before processing transaction. As i remembered the first btc i sent was same case and I sent 20$ worth btc to wrong address and as there is no refund option I lost these btc forever. Our 2 minutes laziness could gives us big lost.

Actually These hasty mistakes are happened when we become overconfidence and we do all work with fast fingers without checking thinking that everything is normal. Many users sent tokens to contract address and lost forever and unfortunately I also sent two times to the contract address and after contacting team members I come to know that these tokens are gone forever and no way to recover.

As you mentioned, we should double check 3 things to prevent costly mistake.

1: Recipent address
2: Amount
3: Fee

This is just a reminder to everyone in the forum from newbie to legendary, that we should be very careful and not be in a rush when we want to make bitcoin transaction, we should be patient enough to go through the bitcoin address that we are sending the money to, and to make sure that it is the right amount of bitcoin that we are sending, over and over again. The transaction fee should also be re-checked, so as to avoid any expensive mistake that can lead to the loss of your coins.

If you mistakenly send your bitcoin to a wrong address, it means that you have lost you bitcoin, because there is no way that you can get it back, if the bitcoin was sent a a noncustodial wallet. If it was sent to an exchange, you only have very slim chance of getting it back.

An example is recently we heard how Paxos over paid $500,000 transaction fee to move $2000BTC due to bug.https://cointelegraph.com/news/paxos-confirms-responsible-for-500k-mistaken-bitcoin-transaction.
Which F2pool has accepted that it was there pool, but I don't think that F2pool will refund back all the funds, because such transactions rely on the goodwill of the miner to refund or not.
Let us try not to be in a rush to make transactions as we might end up regretting for a long period of time instead of using few minutes to glance through the transaction again. Paxos was lucky that the money was refunded because it was the mining fee which can be traced to the minimg pool, but when it is the wrong address, it becomes more complicated.