Binance Smart Retrieval Service Adds Supported Currencies and Self-Rescue Guide for On-Chain Transactions! What should I do if I redirect the wrong link?

When novices transfer cryptocurrency, what they fear most is the dilemma of accidentally sending it to the wrong address or choosing the wrong blockchain network, resulting in asset losses. Even if it happens on a centralized exchange, it usually requires a large additional fee for preparing coins, which greatly affects the user experience.

Recently, Wu Shuo Blockchain launched a proposal to provide free recovery services for the first (ideally, the first three) transfer errors. This can provide some comfort to novice users. However, as with other normal charge processing, this provides some comfort to novice users.

Binance has added a series of “smart recovery” currencies

Therefore, Binance has decided to significantly increase a series of currencies that can be recovered through the “smart recovery” mechanism. According to Binance’s announcement, the “smart retrieval” service can shorten the token retrieval time (up to 14 working days), and the corresponding handling fee will also be significantly reduced (5 USDT).

Previously, this service only supported certain tokens of MATIC, TRX, BSC, FTM, and ETH networks. If the user accidentally deposits unsupported tokens into any of the above networks, and there is a "Retrieve Now" button next to the system, the user only needs to click this button to automatically initiate the fund return process (the user is recharging Recharge records can be seen on the history page).

Now, the support scope of this service has been extended to 10 blockchain networks, and the newly added supported currencies include:

• ARBITRUM: WETH, WBTC, GRT

• BASE：WETH

• BSC：GAL,APE,UST,NFT,RWT,LUNA,GMT

• ETH：SOL,FTN,BETH,XSHIB,HBTC,COMBO,GMT

• FTM：BNB,DAI

• ##MATIC： WETH,WMATIC,AVAX,IXT,UST,BNB,BUSD,OUSDT

• NEAR：USDT

• OPTIMISM：WETH,WBTC,DAI

• TRX：MOF,USDD

• ZKSYNCERA：USDT

Users can see all records on the recharge history page, including records of incorrect recharges

Binance has helped "wrong recharge users" recover nearly 4.4 billion US dollars in the past two years

In February this year On the 29th, Binance released a report stating that users, especially novices, will lose tokens due to a variety of factors, such as entering the wrong wallet address, choosing the wrong blockchain network, or due to network problems, blockchain upgrades or wallets. Various issues such as maintenance cannot be accounted for correctly.

“The token recovery service of the Binance customer service team has successfully handled 381,616 incorrect deposit cases during 2022 and 2023, recovering and returning a total of approximately $4.35 billion worth of cryptocurrency for Binance users. ”

If it is a decentralized on-chain transaction, how should it be handled?

If you are not using a centralized exchange like Binance today, but are directly transferring assets on the chain or interacting with DEX, then the difficulty of retrieving assets will be greatly increased, but you can still try your best. Try the following:

• Confirm the transaction Hash and find the receiving address: You can find the Hash of this transaction from the block browser, which will provide detailed information about the transaction. The most important thing is Find the receiving address.

• Find the payee through communities and forums: You can ask in cryptocurrency communities and forums if anyone knows the payee of the address, or from the money he holds Asset judgment is commonly used in communities to find people.

• Send on-chain messages: The Ethereum blockchain browser Etherscan has launched the instant messaging function Blockscan Chat, which can send private messages, but it is unknown whether it will receive a response.

• Query through third-party programs: You can use third-party on-chain data programs to query the degree of its connection with reality. For example, Arkham can find its connected social media accounts by address.

How to avoid sending to the wrong address again

Of course, the best thing is not to enter the wrong address. Here are some things you can check before sending a transaction: detail.

• Check the payment address: Before sending, confirm the address again, at least the first four digits and the last four digits.

• Check the payment blockchain: Confirm that the transmitted blockchain is the correct blockchain

• Confirm the transmission again from the on-chain Hash Address: After transferring cryptocurrency, it can be reconfirmed from the blockchain network that it was sent to the correct address.

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