I sent ETH from Bitstamp to another exchange - is it lost forever?

xtraelv

legendary

Activity: 1274

Merit: 1924

฿ear ride on the rainbow slide

Quote from: timisis on May 14, 2018, 09:19:35 PM

Waddafunk! I am replying here to say that I nearly fell for it, had no clue about this bomb in the Ethereum Foundation. I think I got saved by insufficient gas! Having said that, what is the point of running an ETH exchange and not support a central ETH feature! Damn cryptokitties and damn these exchanges

Due to the way smart contracts work and the way most exchange APIs work there is a risk in accepting payments from smart contracts. Smart contracts are not without risk. There is also no universal standard as to the code of a smart contract

https://www.bleepingcomputer.com/news/cryptocurrency/researchers-find-34-200-vulnerable-ethereum-smart-contracts/

BrentMack

newbie

Activity: 204

Merit: 0

When it comes to transferring coins that are from smart contract wallets you should be very careful and make sure that where you are sending it to uses and acepts smart contracts before you send it to them. Contact Allcoin support and see what they have to say about recovering the coins for you although you might have to pay a fee for the recovery.

timisis

member

Activity: 178

Merit: 10

Waddafunk! I am replying here to say that I nearly fell for it, had no clue about this bomb in the Ethereum Foundation. I think I got saved by insufficient gas! Having said that, what is the point of running an ETH exchange and not support a central ETH feature! Damn cryptokitties and damn these exchanges

xtraelv

legendary

Activity: 1274

Merit: 1924

฿ear ride on the rainbow slide

Bittrex, Binance, Bitfinex, Coinexchange.io, Coinhako, Coinpayments, Cryptopia, Exodus, Kucoin, Koinex, Ledger, Liqui, SimplexFX , Bithumb and Huobi all don't accept smart contracts.

Send all smart contract payments to MEW or a personal wallet and then to an exchange - saves a lot of problems.

It will reach the other exchange but cannot be processed by them. Some exchanges will manually recover it. Some exchanges will charge a fee for manual recovery and some exchanges won't recover it.

It has to do with how APIs from ICOs and Exchanges track deposits from the blockchain. A lot of exchanges do not accept smart contracts. There are good reasons for this.

ICOs often send the tokens to the senders address. Which in the case of a smart contract is the contract address - so your tokens will be lost.

With a NORMAL transaction the ETH is sent from the senders address via the blockchain to the receiver address.

With a SMART CONTRACT a 0 ETH transaction with instructions (code) is sent to the CONTRACT address. The contract address then executes a internal transaction (code) to the receiver address.

BTC, LTC and BCH do not have that function. Smart contracts are unique to Ethereum and Ethereum based coins.

NORMAL

SMART CONTRACT

otunayode

full member

Activity: 462

Merit: 100

One thing I know about sending ether is that if you mistakenly send any ether to smart contract address, you may never recover it back. It is unfortunate that Bitstamp do not enable exchange to exchange sending of ether. On bittrex, i have send ether to another exchange without any problem. Sorry for your loss and stick with instruction next time!

FlorentineNobleman

sr. member

Activity: 519

Merit: 250

vetherasset.app

So I ignored Bitstamp warning:

WARNING: Please make sure that the receiving party supports Ethereum transactions generated from smart contracts prior to initiating an ETH withdrawal.

And I withdrawed 10.5 ETH from it to Allcoin.

This is my ETH address on Allcoin:

0xABC65B12F24792dAd9DAa983787f314D3614A4F1

But these transactions never reached it and are in ,,Internal transactions":

https://etherscan.io/address/0xabc65b12f24792dad9daa983787f314d3614a4f1#internaltx

They went into some smart contract which returned 0 ETH into my all coin address.

So the question is are they stuck in Allcoin or they never left Bitstamp?

Topic: I sent ETH from Bitstamp to another exchange - is it lost forever? (Read 199 times)