Topic: Sending Crypto to the wrong address - page 5. (Read 794 times)

Thank you all very much indeed for your time.

In resume
1. It happened occasionally some loss due to human error
2. Malware can misslead a user masking the address
3. The usual process everybody use is to manually check
4. There is some lack of trust in using a helper or on how it can be beneficial

We are very pleased for your help

Did it happen to you?
Yes, it happened to me once, but fortunately for me I had access to the wallet address otherwise I would have lost the money.

How comfortable are you every time you transfer to a remote address?
I am not too comfortable because I have to double check to ensure that I don't make a mistake despite having used the copy and paste options.

Would you be more comfortable using a helper?
It depends on what type of helper you are talking about because privacy is still important.

What do you use today to mitigate this risk?
Nothing other than to use Copy and Paste options, then double check.

Sending crypto to a wrong address can't be recovered that's why should check properly before making any transaction.
I already did this accident several times in Crypto and lost much.

Luckily it didn't happened to me yet, I always make sure that I am giving it to the right address since there is no such thing as refund and my wallet doesn't have replace by fee feature (I turned it off) and I was really looking or double checking the address before sending it especially with larger amount of transaction.

Still hadn't happened to me. It's because I always try to copy-paste correctly and match addresses. Usually, I read and match a few first and last digits of the sending address. It prevents me from sending funds to the wrong address and I can prevent clipboard hacking. I feel comfortable because I trust only my eye, need to match the address anyway. No matter what tools I have been using. I am not sure how will you develop tools to avoid these errors. I don't see any easy way when peoples are lazy to double-check their sending address at all.

Not sure how can you reduce this human error though.

1. No.
2. Comfortable, because I didn't check everything before I send my crypto
3. No, I would rather go old school, again, double or triple check.
4. Transaction is irreversible, so not sure how you can mitigate it.

And also this has been exploited by criminals as well, the Clipboard malware, it has evolved already, and so I don't know if you can bypass that as well with the one that you are developing.

The times I've seen this happen are typically due to miscommunications during deals, either due to a language barrier, or just being too casual.  That's why with my escrows I use templates, so that it is clear to everyone where the funds are supposed to go.  One time I even had someone say that I sent funds to the wrong address, only to show them the message where they agreed that the address I sent to was where the funds should be released.  This is also a good lesson to make sure you have "backup" in case things go wrong.  Don't take liberties to send to addresses you think are owned by someone.  Confirm and make sure you have evidence in the event that person made a mistake and then wants to come back and blame you.

Basically, I don't think there is anything that can be done in this case once that transaction has been made, or at least I have not heard of it done. The only thing will be for you to be extra careful before hitting the transaction button that the address is correct otherwise those are lost coins/tokens.

For the record, it has never happened to me but then, there are a few ways in which, bitcoins or coins per say, gets sent to the wrong wallet.

* The Ctrl+V error.
It's no nothing new that what we often do is copy and paste an address that we intend to send coin to. Sadly, things could always go wrong in the process and it's often virus or malware related at this point. Within the process of copying and pasting the public address, should your device have malwares on it, there are chances that the malware can swap the address and the transaction goes South.
Mitigation is that:
You debug your system and always ensure manual confirmation by checking start, middle and end of public address.

* Coin address Confusion
It is important to note that, addresses are coin specific and the address used in accepting Bitcoin isn't the same address for accepting Tron, Ethereum, Litecoin etc. There are certain confusions that often comes with Bitcoin (BTC) and Bitcoin Cash (BCH) as being same but, they've got different address formats.
Mitigation is that:
Bitcoin address takes the format: "bc1" for bech32, "1" for P2PKH and "3" for P2SH. These you should watch out for.

* Blatantly sending coin to another users address
This is just an error that could come up with one being too care free.
Mitigation is:
Simply being careful and know that, your dealing with money that could be non refundable when sent yo the wrong address.

I get it that one could not be too careful but, I doubt we need another software to check this out. We are good this way and it's left for one to make mistakes if they should make any at all and correct them as they go.

This never happened to me even by mistake since I always check the address before sending it. There are wallets that offer a "copy to clipboard" kind of feature where the address is automatically copy/pasted to the exchange that you are sending your coins to.


I am quite comfortable and confident given that I always check the address before sending my cryptocurrencies. Given that the nature is that the funds are irreversible in case of an error/mistake, it is but natural for me to double check everything.


If there is an added feature QOL feature where copying to clipboard feature is much simpler than it is (for added security), then I would definitely use it.


Like what I previously mentioned, the only way to mitigate the risk is to manually check the address that you are sending to. Just a tip, if you are skeptical if you are comparing two addresses, then try putting it inside a sign-up page where two passwords are required. If it shows that the passwords are the same, then you can send that address confidently to the exchange.

Yeah, agree, and who is going to input the address manually? It is too long and it is better to copy and paste it, then triple check it by looking again at the address. Lol it hasn't happened to me that I sent it to the wrong address because I always double-check if it is the correct address before sending. Also, I'm not sure if this is useful to me if you are developing something to reduce the error because every time I send crypto I am comfortable with it and also because there are QR codes now it is easier to send.

When that happens, isn't it clear that there is no hope of returning because what do you expect if you send it to the wrong address then it will definitely be forfeited and will be in vain because there is no best possibility and it is certain that the asset sent never come back.

this is why we really have to be careful so that this doesn't happen because if something like that happens then it's most likely that you will regret it, especially if you send a large amount

Being in this space needs a lots of responsibility. Never happened to me, coz I always check the receiving address before sending.

To prevent incident like this, what platform should do is to show a summary of the transaction before a user send it. E.g showing address, amount and what coin. With this, user can review not twice but many times before clicking the confirm button to send.

• Comfortable enough
• Not at all. Being your own bank means you take responsibility for your actions. Trusting a "helper" with any crypto related activity defaeats the purpose of cryptocurrencies and being autonomous.

• Triple check the address before signing the transaction (or sending your address to someone),
• Actually look through the entire alphanumerics and not just the first and last few,
• Ensure the address is correct and it's compatible with the coin you're sending from.
Other precautions;
• Protect your device from malwares which could expose one to keyboard highjacking

We don't need that.
If you write an address manually and make a mistake, it's almost impossible that it's a valid address and your wallet or the service you are using won't allow you to make transaction.

If the token goes to the wrong address, it will never be returned. So always keep an eye on sending crypto.When you send a crypto, you must match the address well. If the address is wrong, you will have to correct it for the rest of your life.That is why you must check it well before sending it.

We're developing something to reduce human error in crypto transactions, especially those in which some mistake was made when writing the receiver address.
Can you guys help us have a greater perception on the user side?

• Did it happen to you?
• How comfortable are you every time you transfer to a remote address?
• Would you be more comfortable using a helper?
• What do you use today to mitigate this risk?

Thanks