I lost my money due to an exchange error (I think)

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Quote from: david678345 on October 05, 2023, 02:56:04 PM

I think I lost my money because of an exchange error...I wanted to transfer usdt from one exchange to another.

I selected the deposit address with the arbitum one network and I realized that it was the same address that I got if I selected the bep20 network (with this network I had already made a deposit).

I understand that each network would have to provide me with a different address, right?

I received an email from the exchange with a successful withdrawal message 90 minutes ago but the money does not appear in the other exchange....

From what I've read the transfer should have taken about 15 minutes.

Anything I can do?

Usually arbitrum networks will provide the same address for deposit if you use Metamask. and bep20 and arbitrum one show the same deposit address only on any exchange only the network is different. So don't forget to enter the deposit address then select the network either bep20/bsc or arbitrum (arb). If you have a token in usdt but in the arb network then later select the arb network, if you choose the wrong one then your usdt will be lost.

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Quote from: libert19 on October 23, 2023, 06:50:59 AM

Op didn't give any update, but I'm sure there is no problem for him, exchanges give same address for all evm chains. As long as chain is supported, you receive your funds.

Something similar happened to me about a week ago, where I lost my funds cause I sent Polygon Matic which wasn't supported by the exchange where in reality I was supposed to send ERC20 Matic.

This was due to my own carelessness, but could also partly blame exchange's UX [1].

[1] https://www.talkimg.com/image/ROG5f

Interesting, I guess we should always try to pay attention to little details to avoid losing funds. Maybe the OP in his case miss out on a little details otherwise even if you send using same wallet to different network as long as it is supported by the exchange should be delivered, except he did made a mistake.

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Quote from: vv181 on October 26, 2023, 04:07:39 AM

Quote from: libert19 on October 23, 2023, 06:50:59 AM

Something similar happened to me about a week ago, where I lost my funds cause I sent Polygon Matic which wasn't supported by the exchange where in reality I was supposed to send ERC20 Matic.

This was due to my own carelessness, but could also partly blame exchange's UX [1].

[1] https://www.talkimg.com/image/ROG5f

What does the UI look like when you enter the Deposit Page?

https://www.talkimg.com/image/TJgSq

Quote

Polygon is available on many networks, certainly, if the exchange did not give any information or warning regarding what kind of chain they are supporting, that would surely be a bad both UI and UX. Generally, the availability of an altcoin on many networks is enough to confuse some users, especially the non-technical ones, though even I'm aware of technical people who are still perplexed by it.

It's my carelessness, as you can see in the image they are certain what exactly I'm supposed to deposit. I looked at Matic Polygon in first screen (which was cause of mistake, image shown in prior comment), copied address in next screen, and sent the funds — didn't look at 'network' field which I should have.

vv181

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Quote from: libert19 on October 23, 2023, 06:50:59 AM

Something similar happened to me about a week ago, where I lost my funds cause I sent Polygon Matic which wasn't supported by the exchange where in reality I was supposed to send ERC20 Matic.

This was due to my own carelessness, but could also partly blame exchange's UX [1].

[1] https://www.talkimg.com/image/ROG5f

What does the UI look like when you enter the Deposit Page?

Polygon is available on many networks, certainly, if the exchange did not give any information or warning regarding what kind of chain they are supporting, that would surely be a bad both UI and UX. Generally, the availability of an altcoin on many networks is enough to confuse some users, especially the non-technical ones, though even I'm aware of technical people who are still perplexed by it.

It indicates it is necessary for the exchange to develop and research the most suitable and informative user interface when dealing with such a case.

libert19

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Op didn't give any update, but I'm sure there is no problem for him, exchanges give same address for all evm chains. As long as chain is supported, you receive your funds.

Something similar happened to me about a week ago, where I lost my funds cause I sent Polygon Matic which wasn't supported by the exchange where in reality I was supposed to send ERC20 Matic.

This was due to my own carelessness, but could also partly blame exchange's UX [1].

[1] https://www.talkimg.com/image/ROG5f

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I had also lost once . The exchange had got closed actually

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Quote from: AmoreJaz on October 05, 2023, 06:58:24 PM

Quote from: oktana on October 05, 2023, 06:46:46 PM

If this really ends up in loss of funds, sorry man. Meanwhile, just because it doesn’t show up in 90 mins doesnt meant that it’s lost. Sometimes these exchanges face network congestion where there are many transactions and their network gets slow. I’m not saying this is the case for you but it could be… Also, for example, a platform like Binance, they try to have the same address for a lot of blockchain (what if you weren’t wrong and the address you used can be used to receive a lot more currencies?). you’ll never know what actually happened until you reach out to support, so do so.

he can check the transaction ID and see on the network what is the status of his transaction. now, if it is saying that it went thru, then, he should contact the support why it is not credited yet. check also the confirmation status because some exchanges will only credit your funds for certain number of confirmations on the network.

Remember he’s talking of an exchange. Idk about others but I’ll use Binance as an example. You can’t just look up a Binance wallet address to see what’s in the wallet. Exchange addresses aren’t just like the normal BSC address.

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Quote from: oktana on October 05, 2023, 06:46:46 PM

If this really ends up in loss of funds, sorry man. Meanwhile, just because it doesn’t show up in 90 mins doesnt meant that it’s lost. Sometimes these exchanges face network congestion where there are many transactions and their network gets slow. I’m not saying this is the case for you but it could be… Also, for example, a platform like Binance, they try to have the same address for a lot of blockchain (what if you weren’t wrong and the address you used can be used to receive a lot more currencies?). you’ll never know what actually happened until you reach out to support, so do so.

I think 90 minutes were actually long for USDT transactions, most especially for Arbitrum when the network is new and seems fast enough than the majority. Your explanation about the same address for a lot of Blockchain seems right because the OP also said that the address are the same to the BSC network.

I already encountered this even in some Ethereum coins/tokens, and Tron. So, maybe you are also right that there is only a delay or it's only a co-incidence that the exchange had some issues but it's scary on the part of the OP. To be more sure, he can also follow your advice of contacting the customer support. Rest assured that everything is fine in his side.

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Quote from: david678345 on October 05, 2023, 02:56:04 PM

-snip-
I realized that it was the same address that I got if I selected the bep20 network (with this network I had already made a deposit).

With those conditions applied to the receiving exchange, your funds will be fine.

Quote from: david678345 on October 05, 2023, 02:56:04 PM

-snip-
I received an email from the exchange with a successful withdrawal message 90 minutes ago but the money does not appear in the other exchange....

Withdrawals are marked successful when your funds are successfully sent without waiting for some blockchain confirmation. However, generally, exchanges use an average recommendation fee for sending which will be confirmed more quickly.The withdrawal time has stepped 1 day, it should have got more than the minimum confirmation amount to be credited on any exchange. If not:
- Make sure that you don't give a different deposit address (in case you get confused).
- Submit a ticket to support.

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Quote from: david678345 on October 05, 2023, 02:56:04 PM

I understand that each network would have to provide me with a different address, right?

Actually Ive never encountered a different one unless its supported a different network like trx which have another format. But since its an arbitrum and bsc network it should be identical deposit address format like started with "0x" its just that youve mistakenly choose a wrong network hence it resulted to an error. However I think thats recoverable since its an evm. Can I ask which exchange are these?

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Quote from: david678345 on October 05, 2023, 02:56:04 PM

I think I lost my money because of an exchange error...I wanted to transfer usdt from one exchange to another.

I selected the deposit address with the arbitum one network and I realized that it was the same address that I got if I selected the bep20 network (with this network I had already made a deposit).

I understand that each network would have to provide me with a different address, right?

I received an email from the exchange with a successful withdrawal message 90 minutes ago but the money does not appear in the other exchange....

From what I've read the transfer should have taken about 15 minutes.

Anything I can do?

You have not mentioned which exchange you have deposited on, as each exchange has its own procedure. If you check the USDT BEP 20 and Arbitrum One deposit address in Binance, both are the same, but if you go to your Kucoin exchange. And check USDT Arbitrum one and BEP 20 address in deposit address, you will see that both are different.

Not every network address is necessarily different, some networks give the same address. When both your networks have the same address, you can of course deposit to either BEP20 or Arbitrum One, in both cases you will receive USDT.

There is no room for even the slightest mistake in digital currency transfer, you may have made a mistake during the transfer of money due to which your money went to the wrong address.
According to you, the address of both BEP 20 and Arbitram One is same. Your collection method also seems fine. It is better to contact the customer service of that exchange.

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It'll mostly depend on the wallet system of the exchange. Some provide different addresses per network, some do it a lot more simpler and provide the same exact wallet address for all EVM chains; as to prevent those typical user mistakes as well.

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There may be some delay sometimes, but it should not take that long.

If you are sending funds to another exchange, they may not appear in the spot trading balance, but they should appear in the wallet balance of your account, so you need to make sure that if they are in the wallet balance, you should transfer them to the spot trading balance.

If you are sending money to the MetaMask wallet, for example, you must make sure to change the network to "arbitum one" in MetaMask so that you can see your balance.

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Quote from: oktana on October 05, 2023, 06:46:46 PM

If this really ends up in loss of funds, sorry man. Meanwhile, just because it doesn’t show up in 90 mins doesnt meant that it’s lost. Sometimes these exchanges face network congestion where there are many transactions and their network gets slow. I’m not saying this is the case for you but it could be… Also, for example, a platform like Binance, they try to have the same address for a lot of blockchain (what if you weren’t wrong and the address you used can be used to receive a lot more currencies?). you’ll never know what actually happened until you reach out to support, so do so.

he can check the transaction ID and see on the network what is the status of his transaction. now, if it is saying that it went thru, then, he should contact the support why it is not credited yet. check also the confirmation status because some exchanges will only credit your funds for certain number of confirmations on the network.

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Quote from: david678345 on October 05, 2023, 02:56:04 PM

<..snip..>
I understand that each network would have to provide me with a different address, right?

Nope- all addresses are the same despite selecting a different network for transferring ETH from one account to another.

Quote

I received an email from the exchange with a successful withdrawal message 90 minutes ago but the money does not appear in the other exchange....

From what I've read the transfer should have taken about 15 minutes.

Anything I can do?

I remember this also happened to me when I selected arbitrum as my network insted of bep20. At the end, even if it reflected that the withdrawal was successful, I was not able to receive my ETH even if I contacted my given customer serivce. I transferred ETH from Binance to a gaming platform which specifically required me to transfer it using bep20.

Like what most have mentioned, try reaching out to their customer support service if they can do anything about it.

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If this really ends up in loss of funds, sorry man. Meanwhile, just because it doesn’t show up in 90 mins doesnt meant that it’s lost. Sometimes these exchanges face network congestion where there are many transactions and their network gets slow. I’m not saying this is the case for you but it could be… Also, for example, a platform like Binance, they try to have the same address for a lot of blockchain (what if you weren’t wrong and the address you used can be used to receive a lot more currencies?). you’ll never know what actually happened until you reach out to support, so do so.

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Quote from: david678345 on October 05, 2023, 02:56:04 PM

I think I lost my money because of an exchange error...I wanted to transfer usdt from one exchange to another.

I selected the deposit address with the arbitum one network and I realized that it was the same address that I got if I selected the bep20 network (with this network I had already made a deposit).

I understand that each network would have to provide me with a different address, right?

I received an email from the exchange with a successful withdrawal message 90 minutes ago but the money does not appear in the other exchange....

From what I've read the transfer should have taken about 15 minutes.

Anything I can do?

It's not a problem. If the exchange where you deposited the USDT supports the Bep20 network, you will definitely receive your USDT. In this case, there may be some other problem or the network may be crowded. If your block confirmation is delayed then it may take time to deposit your USD. You can talk to your exchange's support team as it might be delayed for some exchange maintenance.
However, if you have selected a suspended network for USDT deposits, it may take longer for your dollars to be deposited. But before you deposit anything, you must be careful which network you choose.

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Quote from: david678345 on October 05, 2023, 03:03:38 PM

do you think I should already contact support o maybe wait? sometimes usdt transactions might take longer than 15 min or if I didnt get the usdt already there has been an issue
?

If this happen already hours ago considering that it won't take 20 minutes then you should message the support of the receiving exchange already. Knowing you already used this address to deposit before, then there is probably a known error on the receiving exchange.

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This thread should be in Altcoin Discussion (as it relates to evm chains) or Service discussion (as it relates to exchanges).

To answer simply:
- An address/private key on Ethereum is the same on all EVM chains, including arbitrum, bsc, etc.
- If you copied the deposit address from Exchange A for BSC instead of Arbitrum by accident, then withdrew to Exchange A from Exchange B (ARB), the exchange will still receive the assets though will not detect it as it's not what has been expected.

You'll need to contact the exchange, probably pay a small administration fee to fix the discrepancy. It definitely is not lost though and if they tell you that, be firm, as it's not true that it's irrecoverable. If they charge you more than 10 USD in administration as well, don't accept that and write a negative review. It takes less than 3 minutes to fix the issue no matter the size of the exchange.

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Quote from: david678345 on October 05, 2023, 02:56:04 PM

I think I lost my money because of an exchange error...I wanted to transfer usdt from one exchange to another.

I selected the deposit address with the arbitum one network and I realized that it was the same address that I got if I selected the bep20 network (with this network I had already made a deposit).

I understand that each network would have to provide me with a different address, right?

I received an email from the exchange with a successful withdrawal message 90 minutes ago but the money does not appear in the other exchange....

From what I've read the transfer should have taken about 15 minutes.

Anything I can do?

Actually did have that kind of problem last month as far as i remember on which im trying out to sent out some WETH on Binance exchange but on the time that it did really credit out then it
is invalid or something not that recognized and having those warnings and its not really that been traded or there's no blockchain on ARB network on USDT on which i did immediately check it out
and bang, it isnt really that included on which it did really make out that kind of locked funds due to wrong network but good thing that they do have that retrieval services which it do ask about 5BUSD as i remember and did get those wrong network deposit on the said sender address on which its a good feature.

On your case, if the balance didnt reflect out then it would be mostly that it might be wrong deposit address or the exchange doesnt really reflect out
those wrong deposits due to non selected network or available. The only solution to this is to sent out some ticket or get some support on that platform if you are really that
sure with the address and explain the situation because they are the only ones who could do such thing.

_act_

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Quote from: david678345 on October 05, 2023, 03:03:38 PM

do you think I should already contact support o maybe wait? sometimes usdt transactions might take longer than 15 min or if I didnt get the usdt already there has been an issue?

If you send it to your wallet, you would have seen it. If you send it to another exchange, it may take longer confirmation before the coin will appear as deposit. You can check the minimum confirmation for Arbitrum deposit on the exchange you transferred it to. But if it is a noncustodial wallet that you sent it to, contact the customer support of the exchange that you sent it to as soon as possible if you see the coin confirm on the blockchain.

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Quote from: david678345

do you think I should already contact support o maybe wait? sometimes usdt transactions might take longer than 15 min or if I didnt get the usdt already there has been an issue
?

There has to be an issue somewhere. It shouldn't take that long if the withdrawal was successful like you said, and you were given a tx hash so just to be sure, check the transaction in arbitrum's explorer and see how many confirmations it has and then compare that to the confirmations required by the exchange.

If you could share the name of the exchange, that would probably help.

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Quote from: Cantsay on October 05, 2023, 02:58:45 PM

It should have the same address which means it should have worked fine.

For the transaction you completed, does the exchange have the transaction id? If they do please share and also contact the customer support of the exchange you used to send and also that of the receiving exchange to confirm why you still haven’t received your token.

do you think I should already contact support o maybe wait? sometimes usdt transactions might take longer than 15 min or if I didnt get the usdt already there has been an issue
?

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It should have the same address which means it should have worked fine.

For the transaction you completed, does the exchange have the transaction id? If they do please share and also contact the customer support of the exchange you used to send and also that of the receiving exchange to confirm why you still haven’t received your token.

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No, not necessarily. A lot of exchange do use the same address for all EVM compatible chains (Polygon, BSC, fantom, arbitrum, zkSync, optimism etc.)

Now that you've made the withdrawal, i would assume you tried to check the deposit address again and it's still the one you used? If so, then this could be an issue with the exchange not detecting your transaction, and not with you sending funds to the wrong address.

I would reach out to the support of the second exchange. This is assuming you're using two reputables platforms.

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I think I lost my money because of an exchange error...I wanted to transfer usdt from one exchange to another.

I selected the deposit address with the arbitum one network and I realized that it was the same address that I got if I selected the bep20 network (with this network I had already made a deposit).

I understand that each network would have to provide me with a different address, right?

I received an email from the exchange with a successful withdrawal message 90 minutes ago but the money does not appear in the other exchange....

From what I've read the transfer should have taken about 15 minutes.

Anything I can do?

Topic: I lost my money due to an exchange error (I think) (Read 324 times)