Topic: Where does all the tokens mistakenly sent to wrong wallets go? - page 2. (Read 500 times)
The transactions are irreversible and cannot be undone. If it goes to an existing wallet there is some hope to get back, but it if goes to a non existing address they will be lost forever. This is why we have to be very cautious when making transactions and check them multiple times.
These tokens will be stored until a key is found. The only advantage of such an error is your subsequent heightened attention, since these errors can be expensive. And of course private keys require special attention.
If you send them to the address of another network, you can forget about them. When sending to another address in your coin, the owner may be able to return them out of pity, which is also unlikely, since there is no connection with the wallet owner. 99.9% chance of losing them.
I have a question for you all. What happens to all the tokens mistakenly sent from a wallet to a wrong wallet and where do they go?
If varies, if you send an erc 20 token to a wrong wallet
It stays there harmlessly I believe
But if it were a wrong eth address; it stays in that wallet
If the wallet is functional then the wallet owner claims it
Probably they just go to the addresses to which they were sent. And if it works out, so you send to non-existing addresses, then probably they simply fall into these wallets that do not exist yet.
Depends on what you mean by mistake really. If you mean a different address than what you wanted to send than the owner of that address gets the money and its gone, this is not bank movements where you can retract back your movements and ask for it back because it was a mistake, this is bitcoin and what you send is already gone to that persons wallet and can't be retracted back to your wallet.
However, if you mean sending money with wrong bitcoin transaction fee (like people who send 0.1 and use 1000 bitcoin transaction fee instead of send 1000 and 0.1 transaction fee) than it goes to the miners who recoup that as profit for solving that block, not equally because whoever solves that block gets that money and that is the end of that. Both of these happened frequently in the lifespan of bitcoin and I know its a problem we have but considering what it brings to the table its lesser problem than the solution it brings.
However, if you mean sending money with wrong bitcoin transaction fee (like people who send 0.1 and use 1000 bitcoin transaction fee instead of send 1000 and 0.1 transaction fee) than it goes to the miners who recoup that as profit for solving that block, not equally because whoever solves that block gets that money and that is the end of that. Both of these happened frequently in the lifespan of bitcoin and I know its a problem we have but considering what it brings to the table its lesser problem than the solution it brings.
I think the majority of exchanges are not doing refunds by such operations. If you deposited through a smart contract, then you tokens will stay there. To avoid such things tripple check the address, tokens and the gas fee every time.
Cryptocurrency is not perfect. And to return the money is simply not possible. But let's confess. This problem exists in the banking system. Incorrect translation can create a bunch of problems for the bank operator. And the money will have to be returned in court. If the cryptocurrency becomes a centralized return of money will become easier.
If the sent tokens are sent to a compatible wallet, it stays in the wallet example when you transfer any erc-20 tokens to a wrong Eth wallet, it stays in the wallet it doesn't go anywhere. But if it's exchange wallet, they awards warn against wrong transactions.
I have a question for you all. What happens to all the tokens mistakenly sent from a wallet to a wrong wallet and where do they go?
It's simple, it goes to the wallet where you mistakenly sent your tokens. It won't be used in less someone owns that wallet where you sent it.
I don't think there is a particular place those coins go to, being the fact that the blockchain is decentralized and can't be controlled by anybody including those who deployed the contract to the blockchain, this is why they always tell us to be very careful while sending coin and we should make sure we double check the address before sending the coin to avoid sending to a wrong address because there is nothing the owner nor the team can do about it.
I think you need to be careful conducting these transactions. Normally if you send on a wrong address or accidentally change one of the letter or number from your address before hitting send. Then iff there is an address like that it will go in. If none, I think the transaction would failed and return to your wallet. If that succeed then sorry you have sent free toksns to someonw address.
Yeah and one wallet holder would be a happy man if that happens. Though i don't think there are that much careless peeps sending out without checking. I mean, it should be obvious that when you missend or mistype a single character there's pretty much no chance of retrieving your coins.
I have a question for you all. What happens to all the tokens mistakenly sent from a wallet to a wrong wallet and where do they go?
It depends on your own definition of wrong address, I think wrong address can be classified into two. Wrong addresses for ones that does not exist at all, or wrong address to one that exist but another user’s account. For the one sent to the wrong address that does not exist, I guess the transaction will just be hanging in the air and left unconfirmed, and since it has not yet been confirmed, the exchange might still be able to do something in withdrawing it. For the ones sent to a wrong existing address, just hope that the user will be kind enough to return it, otherwise, it might be gone forever after it has been confirmed.
I have a question for you all. What happens to all the tokens mistakenly sent from a wallet to a wrong wallet and where do they go?
You aren't specific and clear at your question. Please mention what does you mean. Is that the same coin's address or totally new coin's address. If it's the same coin like you have mistakenly sent bitcoin to another bitcoin address, coin will be lost. There's no way of recovering those. If that address exist, he will be the owner. On the other hand, there will be nothing lost if you send in another coin's address.If it means exactly what he says, then it just means the coins stay in those addresses.
You cannot mistakenly send to an address that the format is not recognized. The transaction simply will be considered by nodes to be invalid.
If the spent is successful, the new input is in the new wallet, whoever controls the private key owns it. That is all.
Be aware about hacker. They use malware to change the copy paste address.
It depends on the owner of the wallet. If the owner of the wallet you have mistakenly sent your tokens is honest and kine, he or she may return your coins or you have to forget them all. Or if the coins you have mistakenly sent to wrong wallets is worthless, there are high chances that you will get back them. So I want to ask all of you to check and recheck your transaction beforehand. Sending tokens is very much sensitive matter.
I have a question for you all. What happens to all the tokens mistakenly sent from a wallet to a wrong wallet and where do they go?
You aren't specific and clear at your question. Please mention what does you mean. Is that the same coin's address or totally new coin's address. If it's the same coin like you have mistakenly sent bitcoin to another bitcoin address, coin will be lost. There's no way of recovering those. If that address exist, he will be the owner. On the other hand, there will be nothing lost if you send in another coin's address.If it means exactly what he says, then it just means the coins stay in those addresses.
You cannot mistakenly send to an address that the format is not recognized. The transaction simply will be considered by nodes to be invalid.
If the spent is successful, the new input is in the new wallet, whoever controls the private key owns it. That is all.
I have a question for you all. What happens to all the tokens mistakenly sent from a wallet to a wrong wallet and where do they go?
You aren't specific and clear at your question. Please mention what does you mean. Is that the same coin's address or totally new coin's address. If it's the same coin like you have mistakenly sent bitcoin to another bitcoin address, coin will be lost. There's no way of recovering those. If that address exist, he will be the owner. On the other hand, there will be nothing lost if you send in another coin's address. 
I made this mistake, when I sent xlm, I did not include the memo and the xlm I sent did not land at all. I am also confused, where are the coins / tokens wasted? but I thought that it would be the right for the coin team, or in general is owned the coin developer.
This one should still be within the capacity of your exchange to retrieve since it has not landed and probably it’s just hanging. If it had gone to an address, then it would have been impossible for them to do so, because they no longer have access or right over such token once it is already in another person’s account.We just need to be very careful for now and check the account we are sending coins to before sending, although this can be a little bit difficult because of the long address, but until something is developed later that will help to further confirm the account, we just have no choice than to verify it.
I have a question for you all. What happens to all the tokens mistakenly sent from a wallet to a wrong wallet and where do they go?
If you mistakenly send to a real wallet, then it goes to an individual or group that own the wallet, but if sent to a burn address, it means no one will have access to it, because such address has no private key to access it.
An examples of burn addresses are:
0x0000000000000000000000000000000000000000
3x3333333333333333333333333333333333333333
4x4444444444444444444444444444444444444444
N.B: It most times contain same figure all through.
This is for ethereum tokens.
I have a question for you all. What happens to all the tokens mistakenly sent from a wallet to a wrong wallet and where do they go?
hahhah)) i believe they go to those wrong wallets you mistakenly sent
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