Sending coins/Tokens to wrong address

[Beromnia 733]

Welcome with me
The symbol or coins you mistakenly sent to the wrong address become the property of the owner of the address being sent to, there is the possibility to recover the amount sent by mistake but it is a very expensive process

[Babubu609 0]

On 10/16/2019 at 7:42 AM, dentolas said:

do you see this as a disadvantage? I think it is the same as with our banks, if yousend your money to an account that belong to someone else your chances of recovery are very, very, very slim...

In crypto, if you are responsible for your funds, private keys, wallets, etc, than it would make sense that you become responsible to check the destination address and ticker multiple times

they'll by no means come back, due to the fact there is no alternative of reversal and refund within the crypto currency, you need to double check before sending.

[rianpedia 816]

20 hours ago, mahmoodhosain said:

It is unfortunate, and if this happens to you, your money and your encrypted currencies that you will send will be lost forever and you will not be able to get them back. 

Virtual money transfers are very sensitive so care must be taken to enter virtual addresses. causing loss or wrong entry into another person's address.

[Abiaan 1209]

On 10/13/2019 at 11:32 AM, Nicecrypto said:

I know this has happened to me once when I just entered crypto, sent a token with same ticker to the wrong exchange wallet address. Now the question is, what happens to the token or coins you mistakenly sent to a wrong address since they are not delivered? Do they burn up in crypto space or what? This has been on my mind so just needed some understand on it.

if the wallet address doesnt exist then transaction doesnt success in the first place but if it exist then it will be the asset of that wallet's owner and its all upto him What to do with that token

[Wilmer Garcia 0]

Unfortunately friend those tokens you lose them since they will be received by the owner of the address you placed there is no way to cancel that shipment are common mistakes that we make when we are newbies

[Upright 2688]

The thing is if you sent a coin like bitcoin to an eos address, the amount which you sent gone and lost for ever as it can't be retrieved, unless the wallet which you use has the function of detecting the use of an incompatible address on such transactions. Or this of having to send a coin to the wrong address of the same coin, it's going to take a miracle for the receiver to send it back to you

[Zaino34 0]

Unfortunately, my friend, you cannot recover money after transferring it to any other address, and you will lose it after transferring, so you must verify the transfer address and the balance that you transfer before you transfer.

[pablomarwan 3082]

If that address does not exist, then it can be burned and someone going back or benefiting from it. This is what they do to burn excess or dead coins. It is better to review the address you want to send to it twice or more to avoid making mistakes like this

[jamesvince 2389]

I never suffering this kind of huge mistake because if we makes our funds in wrong address then it means we lost that funds. So it is beneficial for us to double check your deposit or withdrawal address because we confirmed our transactions then it means lost of funds. 

[George10 9932]

When you send Cryptocurrency like bitcoin or any other to a wrong address I believe those coins will be lost forever or received by the wallet owner to that wrong address if it exist thats my opinion thanks.

[magd 5231]

This never happened to me and I always mention not copying and pasting the wallet address because it may change in addition to making sure of it several times before sending. The money that you send to the wrong address goes to that address and becomes the property of the owner of that address so you will lose your money then.

[Zues 1069]

On 10/13/2019 at 1:47 PM, Nicecrypto said:

I know this has happened to me once when I just entered crypto, sent a token with same ticker to the wrong exchange wallet address. Now the question is, what happens to the token or coins you mistakenly sent to a wrong address since they are not delivered? Do they burn up in crypto space or what? This has been on my mind so just needed some understand on it.

I think that the token that you send to the wrong adress is now currently the propert og the owner of the adress. It will never burn but it is not yours anymore. Be secure and double check your transactions clearly. 

[Treat1234 0]

I only did it once, but I won't do it again, this will show a good way to prevent yourself from losing your coins, always be careful when doing transactions, we have heard testimonies

[ComeBackIsrael 185]

Yes, the blockchain system tries to send cryptocurrencies to this wallet , but since this wallet address does not exist, these coins just remain in the blockchain network.

[Brand1 1336]

When we send money to the wrong address, this money will reach the wallet that contains the same address that you sent the money to. If this address does not exist, the currencies will remain on the internet until a new address is generated for a new wallet that has the same address that you sent your money to.

[IamLeader12 682]

Yes, due to the fact that this address does not exist, the coins will remain in the crypto space and when such a wallet address is created, this cryptocurrency will immediately come to it.

[Treat1234 0]

16 hours ago, ComeBackIsrael said:

Yes, the blockchain system tries to send cryptocurrencies to this wallet , but since this wallet address does not exist, these coins just remain in the blockchain network.

I don't think this kind of scenario does happen with people, unless you used a lower transaction fee which the blockchain won't accept your transaction until the fee is exact with yours

[Hazera 9]

There you cann't track and control the transactions. In this sytem if you send your fund to any other address which is correct then you cann't cancel the transactions. And if the address will wrong then transaction.

[malik6314193 5449]

If you send it to another adresa than it is property of that man which address you used. But if the address is wrong then your tokens will burn up. 

[Jimmy26 987]

This topic is very important for every members because we are doing transactions but while doing this we are not doing it with safety this is the reason many people are facing problem and difficulties for them I want to see it don't take it normally because if you are by mistake and given the wrong address of the currency then your money will be lost you cannot recover them because there is no such option so be careful about the transactions so that you can enjoy the campaign.

[MrGox 880]

It is awful when it would happen. That is why we can say that there is really solution to get come back your coins or tokens. Somebody is happy, when see in your wallet something new. 🙂 

[BTC Future 3946]

This hasn't happened to me and probably won't. It should always be our responsibility to double and triple check the address we are senting our funds to. If we are tired, or not thinking clearly then perhaps we shouldn't sent funds and wait until we have better judgement. Basically I don't find it something easy to happen if you take enough time to be careful.

[jacker 1095]

When you send any coin or token, to any address, it means it belongs to that address. You can hardly get back because you do not know who they are, there is no guarantee as well as helping you get back what was lost. That's why it's a good idea to double check the address.

[Bruno52 1141]

I think the service that you use to send the coin takes away for itself if the wallet is not valid and I will advise everyone to double check the wallet that they want to send coins to. 

Edited April 16, 2020 by Bruno52

[Dmasked 1840]

If you send your crypto in wrong address then the address owner receives and owns the crypto now. If no such address exist then the transaction is cancelled without confirmation. You can still cancel the transaction before it gets all the confirmation.