A month ago, I encountered an unprecedented setback with USDT transfers, accidentally losing 26,800 USD! Now, I want to share my mistakes and withdrawal experiences with you, hoping to sound the alarm for you!
My moment of mistake
At that time, I planned to transfer 25,500 USD of USDT from my KuCoin account to my business partner. He provided an ERC20 network address, and I thought the transfer process would go smoothly. However, during the operation, I carelessly selected the Polygon network, and without carefully verifying, I directly confirmed the transfer. At that moment, the funds were deducted from my account but did not reach his wallet for a long time.
After multiple attempts and investigations, we discovered the root of the problem: the target address does not support deposits on the Polygon network at all. Therefore, this USDT completely disappeared due to the network mismatch and cannot be recovered.
Painful lessons learned
This experience has deeply made me realize the importance of verifying information before transactions. Here are two key lessons:
1. Network mismatch: Always ensure that the transfer network matches the network supported by the recipient's wallet. I paid a painful price for mistakenly selecting the Polygon network.
2. Transfers are non-retractable: Cryptocurrency transfers are fundamentally different from bank remittances. Once the transfer is confirmed, it cannot be undone. Therefore, any mistake will lead to irretrievable losses.
Sharing my experience with withdrawing USDT
To prevent similar tragedies from happening again, I have summarized the following experience with withdrawing USDT:
1. Carefully check the wallet address: No matter how troublesome, always double-check the wallet address and designated network to ensure everything is foolproof.
2. Match the correct network: Before transferring, be sure to confirm that the selected network is fully compatible with the network supported by the recipient's wallet.
3. Test with small amounts before large transfers: Before making a large transfer, you can first send a small amount for testing, and after confirming everything is correct, proceed with the large transfer.
This loss has left a deep impression on me, and I hope it can raise your awareness. Never ignore these seemingly trivial details!
Despite suffering significant losses, I have not given up my confidence in the cryptocurrency market. Recently, I am looking for a highly potential coin to take a position in, hoping to double or even achieve more than 10 times the returns.
If you also want to follow in my footsteps, feel free to like and comment. Let's look for opportunities together in the cryptocurrency market and create brilliance! I've been observing this coin puppies for a long time, it's stable, and I believe it will be the future shib
