Crypto transfer 'shock trap'! $25,500 USDT mistakenly transferred, unveiling a hidden corner of the industry
I have to tell you something, this really hurts. A month ago, my good friend took a big hit in a crypto transfer, losing $25,500 worth of USDT, and now that I think about it, I still feel uneasy.
My friend originally wanted to transfer $25,500 USDT from his KuCoin account to his business partner. His partner gave him an ERC20 network wallet address, saying that this way, the transfer would go smoothly. But who would have thought, the problem arose right here.
While setting up the transfer, my friend accidentally selected the wrong network, choosing the Polygon network instead of the ERC20 that he should have selected. He didn’t notice at the time and just confirmed the transaction. As a result, the money was deducted from his account, but it never arrived in his partner’s OKX wallet.
They tried many times to recover the money, but none were successful. Because that OKX wallet address does not support deposits via the Polygon network, that money just went down the drain.
This incident served as a wake-up call for us, friends. In the crypto world, you have to be extremely careful; a moment's oversight could lead you into a pit. You need to check your information meticulously, not a bit carelessly.
Just like this time, the network mismatch caused the transfer to fail. Moreover, crypto transfers are not like traditional banking; once confirmed, they cannot be reversed, and if something goes wrong, you can’t get it back.
So, everyone, when transferring in the future, make sure to check the wallet address and confirm whether the network matches. If unsure, you can first send a small test transaction to confirm.
My friend really took a huge loss this time; I hope everyone can learn from his experience and not make the same mistake again.
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