Crypto is a pretty tricky field. One minor mistake can cost you a fortune. But, in any case, one learns from mistakes.
If you indicated the wrong wallet address for a contest prize, don’t panic: you have a chance to get your prize back! How? There aren’t many ways, but let’s go over everything in order.
Before we proceed with the cases, pay attention to some points. Taking them into account can prevent such situations in the future.
- When specifying an address to receive a prize, pay attention to which blockchain the prize tokens are supported by to specify the address that corresponds to the necessary blockchain. Thus, most projects reward users with tokens based on their main blockchain. For example, if the project is on Avalanche, the tokens are linked to that blockchain. If the project’s blockchain is not publicly mentioned, it is most likely on Binance Smart Chain (BSC).
*If you are not sure which blockchain address to indicate for receiving the award tokens, you can ask the community for support.
- When depositing or withdrawing funds from a wallet or exchange, be attentive when selecting a network. The most popular cases of “mix-up” are Binance Smart Chain (BEP-20) with Ethereum (ERC-20). As a result, you can send tokens to another blockchain.
- Before you click “send” or any other button confirming the last step, check again if the address is correct.
ProTip: When sharing an address, it’s better to double-check it.
So, it happened. The first thing to do: don’t panic.
You gave the wrong address and this is the result: ERC-20 supported tokens (like ETH) ended up in the Binance Smart Chain (BSC) or BEP-20 supported tokens ended up in the Ethereum network. It is possible to get them back.
There are three different possible cases, each with its solution.
Case #1. You indicated the address of a wallet that supports both BSC and Ethereum.
Case #2. You indicated the address of a wallet that supports only Ethereum or other EVM blockchain.
Case #3. You indicated the address of an exchange or custodial wallet.
How to rescue the situation
Solution for case #1
If the wallet is a multichain one with both BSC network and Ethereum…
Continue reading on our new blog: https://oneart.digital/en/blog/what-to-do-if-i-gave-the-wrong-wallet-address-for-a-crypto-contest-prize#solution-for-case-1