FinTech news in asset recovery category

This time, however, it seemed like I was in luck; the tool worked easily, and for a small finder’s fee, I was able to reclaim my coins, by sending the CDAI coins to a wallet, converting them into ETH, and sending them back to my Coinbase account. So, I wish to extend a very public thank you to Coinbase for helping those of us who feel brave enough to experiment, but not smart enough to get things right on the first try — and a moment of gratitude for companies that are willing to do (presumably) hard things in order to make crypto just a tiny little bit more lenient to users who want to learn. Last year, Coinbase launched an asset recovery tool for people who really don’t understand how blockchain works, and think they can send CDAI coins to an Etherium wallet. I make no secret of being incredibly bearish on crypto in general, and losing a few hundred dollars of a currency I didn’t understand by sending it to the wrong wallet, to me, felt like appropriate punishment for not knowing what the hell I am doing.

Coinbase, the second-largest crypto exchange globally, has launched a new tool to help its customers recover more than 4,000 unsupported ERC-20 tokens sent to its ledger, the company exclusively told journalist. The ERC-20 self-service asset recovery tool allows customers to recover different kinds of tokens sent to a Coinbase address. In the past, if you sent assets not supported by Coinbase to a users’ address on the exchange, you’d get a message saying the assets were successfully delivered on-chain, but they didn’t actually go to the receiver’s wallets. Many tokens that are ERC-20 tokens on the Ethereum mainnet that have pricing information on a decentralized exchange or other venue can be recovered, Robinson said.