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Recovery of incorrectly sent crypto transactions
Recovery of incorrectly sent crypto transactions

In some cases, incorrectly sent crypto transactions can be retrieved – here's some information about this process

Valerie avatar
Written by Valerie
Updated over 3 weeks ago

If your customer made a transaction incorrectly, and it hasn’t been credited, this doesn't always mean that the funds are lost – in many cases, we will be able either to refund it to the sender or manually credit the funds to your business account.

Important: If the funds were sent to the wrong address, and this address doesn't belong to us, the funds can't be retrieved, sadly – this is due to the fact that we simply have no access to the funds.

Refund procedure

You can find the list of all networks we currently support here. However, there are still cases when customers, by mistake, send their funds via unsupported networks such as Polygon, Cronos, Avalanche, Arbitrum etc.
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You can check if that’s the case using a relevant explorer: https://bscscan.com/, https://polygonscan.com/, https://snowtrace.io/, https://cronoscan.com/, https://arbiscan.io/ etc. by entering the TxID into the Search window.

Luckily, such transactions can often be refunded. The fee for the recovery procedure is 20 EUR. As we aren’t able to charge these funds from the transaction amount due to some technical limitations, we will have to deduct them from your business account (after receiving your confirmation).

If you and your customer agree to the refund procedure, firstly, you need to ask the client for a refund address. It needs to belong to the blockchain which the customer initially sent the funds through (to a Polygon/Avalanche/Cronos/Arbitrum etc. compatible wallet).

Then, the client (or you) has to transfer the transaction fee of 0.0007 in the base currency of the blockchain, from which we need to recover the funds to the address they initially sent their funds to. For instance, in the case of Polygon - it’s MATIC, for Avalanche - AVAX, for Cronos - CRO, for Arbitrum - ETH. Please send the TxIDs of the initial transfer and 0.0007 deposit, as well as the refund address, to b2bsupport@cryptopay.me or via live chat so that we can proceed with the refund.
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Manual crediting of incorrectly sent transactions

There are also some cases when the payment can be manually credited to the merchant’s account – a recovery fee of 20 EUR is charged for all such operations (i.e. in all cases where we have to process a deposit manually on our end):

  • A client sends the correct currency over the wrong network, and we support this network – such a transaction can be recovered.*
    ​For example: the client sent USDT via BEP-20 to a USDT ERC-20 address specified in the invoice.

*If the customer made a mistake and sent the funds to the ERC-20 address via a different supported network (e.g. BEP-20 instead of ERC-20), to manually credit such a payment, the client (or you) has to transfer the transaction fee of 0.0007 in the base currency of the blockchain, from which we need to recover the funds, to the address they initially sent their funds to.

  • A client uses the wrong currency, but we support it – such a transaction can be recovered.
    ​For example: the client sent TRX via TRC-20 to a USDT TRC-20 address.

  • A client makes an XRP transaction with no Destination tag (or with a wrong DT), it can be only credited manually as well, after paying the above-mentioned fee. The same concerns XLM transactions sent with a wrong Memo ID (or a wrong Memo ID).

Important: if the amount of the incorrectly sent transaction is lower than 20 EUR (its equivalent in crypto), it can't be recovered, refunded or credited as it's lower than the recovery fee (20 EUR). In such cases, the funds are lost, sadly.

If you have any questions, please feel free to contact us in the live chat or via email at b2bsupport@cryptopay.me

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