How to recover wrong chain transaction, Ripple sent to Ethereum address? - Keychainx - We recover lost crypto assets
24.01.2021
KeychainX

How to recover wrong chain transaction, Ripple sent to Ethereum address?

People who are new in the crypto world need some time to understand the basics. However, those who are for a long time in the community are still exposed to risks. One of them in today’s story is the wrong chain transaction.

In Poland, we have winter, so I have experienced a great view from my window, which showed the beauty of nature in snow. It was evening already, and that was quite a good day, we opened a few wallets for our clients, so I did not expect any special experience at the end of the day.

How wrong I was, it turned out 10 minutes later.

“Hey, I have lost my Ripple because accidentally I send it to Ethereum address on my Ledger.”

I am wondering about this case for a couple of minutes. Most people think that it’s impossible to send XRP to Ethereum address. How did it happen? I thought in the same way, but …

“Hey, could you send me your txid? Have you got access to a private key connected with this Ethereum address?” I replied.

A few minutes later, I have received all details. I need additional minutes to do research and check what we can do. In less than an hour, I already had the private key to the ETH address where the Ripple was locked. I have started our work, and it took us 15 minutes to recover from Binance Chain all lost Ripples.

That was so quick, I thought.

Nevertheless, sometimes it takes us even 2 minutes to recover someone’s lost BTC or Ethereum. It’s also one of the key factors for a success fee, which we set. The next key aspect is also how it is complicated on the technical level. I wrote to a client.

“Hey dude, your crypto is recovered; please provide us your XRP address.”

He was shocked at how fast we were able to recover his money. Most of our clients also appreciate our honesty. We are happy that people trust us and we don’t disappoint them. That was a perfect finish on this day. We recovered lost XRP on the Binance chain of Ethereum address. If you think that your funds are gone because you have sent them to do the wrong chain, send us the details, and maybe it will be recoverable.

Let’s dive deeper into the topic of lost funds connected to the wrong chain transaction. Our client’s case, which I described, was less popular than Bitcoin Cash to Bitcoin address.

How can I recover Bitcoin Cash (BCH) sent to Bitcoin (BTC) address? 

Let’s start from the beginning; how it’s possible that I can send cryptocurrency A to address crypto B? That’s a good question. Bitcoin and Bitcoin Cash works on completely different blockchains. Bitcoin Cash can’t exist and be moved on the blockchain of bitcoin. You can send Bitcoin Cash to the Bitcoin address because of the common format of address – Legacy Address.

If you’ll send your Bitcoin Cash to Bitcoin address, but you have the same backup to both cryptocurrencies, you can restore your wallet using mnemonic words (12 or 24), and your funds should appear in your wallet. If you send Bitcoin Cash to Bitcoin address that is connected to your non-custodial wallet, it’s not a problem to recover coins by using the private key (We assume that you have access to private key) but If you send a transaction in another way, from non-custodial wallet to custodial service like an exchange, it’s more complicated.

In this case, you must rely on the provider, who has access to your private key connected to the Bitcoin address that has locked Bitcoin Cash.  There is no option to recover funds without their help.

When it’s not possible to recover your Bitcoin Cash funds? 

If you send your Bitcoin Cash to Bitcoin SegWit address, there is no option to recover it, despite of the fact that you can get access to your private key associated with the SegWit address. Maybe you are wondering what SegWit is? Segregated Witness is an update of the bitcoin protocol, which was made on 23 august 2017. SegWit helped to remove problems with “transaction malleability.” Thanks to this update; we could also started with the second layer protocol – Lightning Network.

Nevertheless, let’s back to a practical view of the problem for those who sent BCH to BTC SegWit address. How can you recognize the type of your address? It’s simple : 

a)  Address starts with “bc1”. [SegWit] – irrecoverable

b) Address starts with “3”. [SegWit] – irrecoverable

c) Address starts with “1” [Legacy] – recoverable

Summary 

If you lost your crypto by wrong chain transaction in any other pair, which were not mentioned in this article, please contact us to see what’s possible to do with your case. There is not much we can do in transactions between exchanges, but you can always reach out, and we will do our best to help you.

Contact : [email protected]