Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => TRON (TRX) Forum + Ecosystem => Topic started by: Igebotz on March 21, 2024, 10:34:16 AM
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A Nigerian self -acclaimed first man to buy Bitcoin in Africa mistakenly sent $90k USDT to the TRON contract address. From my knowledge every coin sent to CA automatically burns and no chances of recovery.
(https://talkimg.com/images/2024/03/21/JhhH3.jpeg)
Is the TRON Network built this way too?
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Yes, if he sent the funds to the USDT contract address (TRX) then hes effectively burned the funds.
That is a quite "expensive" lesson about double check all transactions including addresses before sending them.
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A Nigerian self -acclaimed first man to buy Bitcoin in Africa mistakenly sent $90k USDT to the TRON contract address.
Damnnn, it's very unfortunate, this is a ridiculous and careless treatment in moving such large funds on the blockchain to cryptocurrency.
I feel sad about this incident and hope this will not happen again to these Nigerians. This will be a valuable lesson for him forever.
From my knowledge every coin sent to CA automatically burns and no chances of recovery.
Yeps, any altcoins sent to the Smarcontracs address will definitely not be recovered or returned because it is the same as sending altcoins to the 123abc*******Dead wallet.
Altcoins sent to the Smartcontracts address are the same as being burned, this is a very fatal mistake.
Is the TRON Network built this way too?
As far as I know, TRON coin is also the same as Ethereum, Binance Smart Chain, Polygon Matic which have Smartcontracts altcoins.
The way it works is almost exactly the same, when a token is sent to Smartcontracts the results will be burned or cannot be sent again to any wallet and just settle in the Smartcontracts wallet.
My advice to Nigerians if in the future they want to arbitrage (send coins to various exchanges) again a coin:
-Make sure the address on the destination Exchange account has been checked correctly.
-Check again whether it is an exchange account address or an address from Smartcontracts.
-Send with small funds first before sending with large funds. For example, send 10 USDT first to the destination address on the Exchange.
-If the test to send 10 USDT is successful and it lands in the exchange account wallet, then you can immediately send a large nominal amount of funds.
*I have often used this test since getting to know cryptocurrency in 2017 and even now, when I want to send coins to a centralized exchange (CEX), I always test it by sending funds of around 10 USD.