Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Fivestar4everMVP on January 29, 2024, 07:35:57 PM
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So, guys and ladies..
I was thinking of something to discuss here, something that may likely not happen, but still very realistic and with slim chances of it happening, so, this idea came into my head, and I've actually asked myself this question over and over again, and the Answer in my head made me discover that, I may not actually trust myself completely to do the right thing at all times, and I can't really explain how it makes me feel..
So, I am going to ask you guys the same question, and one thing I ask of is, that we all look inward ourself, look outward as well, think about how far this can take you in life, and your family as well, and be very honest with your answer.
THE QUESTION
Lets say you woke one morning, and decided to check one of your wallets, and amazingly, you found $1 million dollars worth of bitcoin sitting there, this money was mistakenly sent to your wallet from a wallet address you do not know who it belongs to, but you are very sure it's not from an exchange.
What will you do?
Will you immediately sent the money back to the address it came from?
Or would you keep and spend it?
Or would you just it leave it for a very long time with touching it? If yes, for how long are you going to leave it? And at the end, what will you still do?
Lets have a good discussion on this please..
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First, I will start by saying the amount in question is a very tempting amount of money, which will take a lot of thinking before someone can come to a conclusion about what to do.
If such is to happen to me, the first thing I will ask is how come about this money because it's a very big amount of money that someone can't just mistakenly send to an unknown address like that.
The next thing I will do is start investigating the sender's address, where they used to send coins, and if the address has not been blacklisted or not. When I talk about an address being blacklisted, I mean if the address has not been marked as a scam address under surveillance.
After getting the information, the next thing I will do is leave the wallet and the bitcoin for the main time and watch if such a case will be reported, and as such, the sender is likely to report it to any news, so if there is not, which has been done after a few weeks, I can't guarantee I will wait for months, but I will give a few weeks to watch the situation.
And after that, I will move the bitcoin to another wallet, where I will use any mixer to mix it bit by bit and send it to separate wallets.
The reason why I won't send it back to the sender's address is that either the sender might not be the owner or maybe the wallet has been hacked. In the process of the hacker trying to send it out, they mistakenly sent it to the wrong address, so there is no guarantee that if I send the coin back, the owner will actually get its hand on them.
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THE QUESTION
Lets say you woke one morning, and decided to check one of your wallets, and amazingly, you found $1 million dollars worth of bitcoin sitting there, this money was mistakenly sent to your wallet from a wallet address you do not know who it belongs to, but you are very sure it's not from an exchange.
What will you do?
Will you immediately sent the money back to the address it came from?
Or would you keep and spend it?
Or would you just it leave it for a very long time with touching it? If yes, for how long are you going to leave it? And at the end, what will you still do?
Lets have a good discussion on this please..
LOL, OP, you wouldn't believe that I use to have this kind of thoughts when I was still new in the cryptocurrency space. What actually gave me that kind of mindset is because I actually received an erroneous transaction to my bank account, where the sender sent about $200 to my bank account years back, while I was still in my early 19. When I received that money in my account, I was even scared to visit the bank because I felt maybe some scammers have sent stolen money to my account to victimize me, so I just left the money in that account, and before it was gone a week later, the bank retracted the money and sent me a message that someone mistakenly sent the money to my account. As a matter of fact, people still make such kind of mistakes in my country, by mistakenly sending money to a different bank account, because they make a mistake while inputting the account number.
With such experience in the traditional banking system, I actually thought, it will also be possible for such incidents to happen in the cryptocurrency space, but I don't see that happening quite ofoften.
More often, I deal in Bitcoin-Transactions because of the business I do, so if I wake up any morning and see such a value of Bitcoin in my Wallet, I will just assume that someone of my customers or supply has mistakenly pushed their money to my Wallet. I will stay calm and wait for some weeks to see if they'd ask me, but if they don't, I might be tempted to just use the Bitcoin for personal needs.
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@Nwada001, that was or is a well thought out plan there ;D, but I have to ask, is there actually any need of doing all of those investigations? Let's say in the process of this investigation, you discover that the address the bitcoins came from was blacklisted either as a scammer/hacker or whatever, will this make you send the bitcoins back? Wouldn't you rather just mix the coins and receive them as a clean coins with another bitcoin wallet thank God for changing your life?
@Dr.Bitcoin_Strange, first, let me say that i also have mistakenly sent money to another person's bank account, and unfortunately, I never got that money till today, even after I visited the bank, they asked me to get an order from court, I did all that all that and provided other documents they requested for, but then, the money never got refunded to me.
And coming back crypto, I have actually made that mistake of sending coins to another wallet by mistake, but I was just lucky the day I made that mistake, for the wallet I mistakenly sent the coins to happened to be one of my old wallets I've stopped using, I had the address pinned in my clipboard, I mistakenly pasted that address instead of pasting the one I just copied.
And someone I know though not very close to me have also made mistake through this same very means, he pasted the wrong address from his clipboard, and send the coins without first verifying the address, bitcoin worth around $280 dollars at the time, he sent the coins to an address he doesn't know who it belonged to, he never got the coins back..
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I did have a similar experience, albeit with smaller amounts. Luckily I have access to the sender so I just sent it back to their address after confirming that he made a mistake. If the situation you described happened to me, I guess it depends on what the status of the coins is. If it is clean, I'll leave it for a while and see if anyone contacts me from the blockchain to something similar. If it is not clean, I'll probably send it to a burn address. At the end of the day, it is not my money, and I'm sure somebody else is freaking out over it and would rather have it back unless they are scammers. If nobody is contacting me after years of holding those coins, maybe I'll just burn it too. But who knows, my situation could change and there is no guarantee I won't succumb to the temptation of liquidating or using it for my purpose.
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For all cryptocurrency transactions, it is very easy to trace the sender, if one day a coin with a large enough estimate strays into my wallet, I would prefer to return it. Regardless of whether someone sent it by mistake or it was just a fad from someone randomly giving assets to another wallet. I remember with similar cases when my friend received BNB balance after some one incorrect input memo number and bad thing my friend not refund the BNB worth more than $10k.
Depend on know or not the sender, if can't detect with sender difficult to refund but if can track who send maybe he has little mistake I think better refund it.
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A very funny question indeed, and to be honest, i sincerely doubt anybody will return such an amount of money, not when you don't know who owns the address the money was sent from, and who ever sent it don't also know who he or she sent that money to, so for, me, if I was to be in such possibly, I sincere doubt I will return the money, except the person makes a public report stating that who ever he or she sent that money to should return it, and I come across that report, then I may consider sending it back.
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Nothing much to say on this topic, since you will see the sender address from which the bitcoin was transferred from to your wallet. The best thing is to send it back, no matter how much it is. This will make you not have fear on anything that will come up, because you don't know whose coins they are, being on the safe side will be is nice. If you keep the coins, some day, you might lose a valuable that worth amount or greater than that amount. Personally, I can't say what I will do if such happens to me, until when that time comes.
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I know many persons will be tempted to keep the Bitcoin to themselves but what is not yours, is not yours. So I'll return the Bitcoin and have peace of mind. Who knows? It could be someone who knows you, and who you must have had some business dealings with and wanted to put your integrity to test, to truly know the kind of person you are. If you fail the test, you've betrayed the trust and the person would collect his fund since he can prove he sent you the bitcoin.
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This is actually a very hypothetical question all because there is really a slim chance it could happen to me or even anyone in my small circle of family, friends, relative and neighbors. Now, having said that, let assumed that one day the Lady of Luck really give me a big smile and out of millions of people with a cryptocurrency wallet someone send me Bitcoin and the value of it is around $1 million dollars worth and it is just sitting there...definitely not standing, not running but just sitting (kidding) meaning that I can spend the amount of Bitcoin in any way I want to. I can send it to another wallet to maybe help me evade someone tracing it (I know this is not the way to do it) or maybe I can send it to Coinomize (my signature below, guys) so as to make that Bitcoin anonymous. Had it been valued at just maybe $10 or even $100 for that matter then I would not anymore bother to take the time to ponder this question: Should I return that Bitcoin to the sender since I am sure it was a big mistake done on his part? Actually, there is no easy answer to this as we know that we are all greedy with different levels of it...and we know that we all need the money all the time but we also know that maybe the sender is actually crying high and low for making such a mistake (which he/she could have avoided in the first place if educated on the precautions to take). So to answer that question, yes I would return the million-dollar Bitcoin but for disturbing my peace I would be asking for a commission which I would negotiate with the sender. How I wish I would be the one to be receiving this Bitcoin...
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If I receive such amount of money, I will not be in a rush to do anything yet because I have to know the source of the funds and how it got into my wallet. Such information will always be posted in the social media because its such a big amount. Apart from waiting to see social media posts, I will do my background checks to know where the money came from using websites like https://www.walletexplorer.com/ that identifies the exchange where transaction came from incase it was sent from an exchange of which it becomes easy to reach out to the exchange to harmonize how to return it.
However, if all efforts at getting through to the sender proves abortive, the chances are high that it may be a donation to my wallet from the OGs, a classical repeat of the Bitcoin faucets ;) ;) ;)
On a second thought, it could also be funds from a crime which might put me in tight trouble, so to be safe, it will be best to consult my lawyer on the best course of action to avoid getting into trouble.
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What will you do?
If it sent to address that i share publicly (e.g. address for signature campaign), i probably will wait until people who claim as the owner contact me. Otherwise, i'll do one of things which already stated by other member.
Will you immediately sent the money back to the address it came from?
No, if it comes from custodial service/wallet, it won't return to the rightful owner and will cause additional complexity for both owner and custodial service/wallet.
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THE QUESTION
Lets say you woke one morning, and decided to check one of your wallets, and amazingly, you found $1 million dollars worth of bitcoin sitting there, this money was mistakenly sent to your wallet from a wallet address you do not know who it belongs to, but you are very sure it's not from an exchange.
What will you do?
Will you immediately sent the money back to the address it came from?
Or would you keep and spend it?
Or would you just it leave it for a very long time with touching it? If yes, for how long are you going to leave it? And at the end, what will you still do?
I just saved your link to answer seriously when I receive $1M in BTC ^^
And here is my answer now, when I still don't see $1M in my account:
I don't want to keep other people's money, especially when it could be the whole family's savings.
I don't want to use it because it might be BTC related to hackers, I don't want to be prosecuted or waste time in court because of this.
I thought I could use Inscription to create an NFT on the Bitcoin blockchain and then send it to the account that transferred $1M in BTC to me. I will contact him and talk about this matter.
I may also report to the court to avoid getting involved in any dangerous incidents in the future.
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THE QUESTION
Lets say you woke one morning, and decided to check one of your wallets, and amazingly, you found $1 million dollars worth of bitcoin sitting there, this money was mistakenly sent to your wallet from a wallet address you do not know who it belongs to, but you are very sure it's not from an exchange.
What will you do?
Will you immediately sent the money back to the address it came from?
Or would you keep and spend it?
Or would you just it leave it for a very long time with touching it? If yes, for how long are you going to leave it? And at the end, what will you still do?
Lets have a good discussion on this please..
In life there's nothing too impossible to achieve, this may be the very first and last of its kind of opportunity to ever happened to us provided that we are that lucky to see it in reality, but lets quickly run a check on the possibility to this occurrence, bitcoin transactions are irreversible, when someone make mistake on receiving address, he is more likely to have lost the bitcoin for good because its not like bank where if you made a mistake, it goes to another mans account
lastly, if this happened, then am ever lucky in my life and there's nothing to do than to claim it.
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i will immediately send the coins to COINOMIZE.BIZand mix them and send them to everyone in here. all of you will be an accomplice to what i did and i think we should all be fine about it. i don't think the guy will look for us and send us all to jail. i will divide the coins equally so no one will ever snitch us here. we are going to work together to keep it secret because we are all accomplices.
on a serious note, i will probably look into the background of the owner off the wallet. maybe he need the money the most, returning it to him will be best. if i find out he stil has tons, planA will be final.
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i will immediately send the coins to COINOMIZE.BIZand mix them and send them to everyone in here. all of you will be an accomplice to what i did and i think we should all be fine about it. i don't think the guy will look for us and send us all to jail. i will divide the coins equally so no one will ever snitch us here. we are going to work together to keep it secret because we are all accomplices.
on a serious note, i will probably look into the background of the owner off the wallet. maybe he need the money the most, returning it to him will be best. if i find out he stil has tons, planA will be final.
Sending all of us who participate in Coinomize to prison is an unreasonable step, and of course, the program owned by Coinomize is for cryptocurrency asset mixers, which makes it possible to erase traces so that you don't know where the assets you send are going.
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THE QUESTION
, you found $1 million dollars worth of bitcoin sitting there,
What will you do?
Will you immediately sent the money back to the address it came from?
Or would you keep and spend it?
Or would you just it leave it for a very long time with touching it? If yes, for how long are you going to leave it? And at the end, what will you still do?
Lets have a good discussion on this please..
This is really funny and would definitely surprise me if it really happened.
Maybe I will be surprised to see it and this is the first time in my life that I have money worth 1 million USD.
This value is huge for my life, and maybe the 1 million USD won't run out of money until I have grandchildren because the cost of living is still cheap where I live.
I will save the Bitcoin in the local market for my old age and I will withdraw part of it from my credit card and this will be my daily money to eat and send my younger siblings to school.
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THE QUESTION
Lets say you woke one morning, and decided to check one of your wallets, and amazingly, you found $1 million dollars worth of bitcoin sitting there, this money was mistakenly sent to your wallet from a wallet address you do not know who it belongs to, but you are very sure it's not from an exchange.
What will you do?
Will you immediately sent the money back to the address it came from?
Or would you keep and spend it?
Or would you just it leave it for a very long time with touching it? If yes, for how long are you going to leave it? And at the end, what will you still do?
Will I sent it back? I'm a kind guy, but being selfish for at least once in my life isn't bad right? :D
Will I keep it or spend it? I might keep it for a few weeks to months to at least see what will be the sender do. I mean I might see my address being posted on different social media platforms, and a movement of the coins inside that address might be an issue. I'll observe first before spending.
Will I leave it for a very long time without touching it? The question's almost the same as the 2nd one so yes I'll just leave it for months.
In the end, what will I do? It will depend on my mood at that time TBH. If I feel that I'm generous, I might give back a small portion of it. I said that I'm a kind guy so I will also donate a portion of it to those in need, particularly animal shelters. The rest? I'll spend a small portion of it to buy things that I want, but a huge portion will be used to re-invest into other assets.
Many expecting to return it, but money can change everything including our attitude. :P I will not return all of it. Of course all of this are just a fantasy because this will never happen in real life. :P
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I know that almost everyone here will answer that they will return it when they are the ones who received such an amount. But to be honest, when it comes to reality and something like that has happened to us, I am pretty sure the others here will not take it back. Why can they justify that it is not their fault, or can they even think that it is a blessing from God that's theirs because they didn't steal it, but it came to their wallet on purpose?
But others have a pure heart that is called for, where if they receive such an amount, no investigation will be done but it will be sent to the address it came from using mixers because it will be seen in the history of the blockchain itself. If I experience that or that happens to me, I will return it to its address of origin, but I will reduce it by an amount of around 20,000 dollars because that is what I need or let's say as a sign of my rewards hehe, and at least 980,000 dollars will still be returned to the original owner. Maybe the $ 20,000 I deducted compared to the $980,000 is not regrettable. Since it's for the sake of discussion, Also, there has never been such a mistake of sending a large amount to another address since Bitcoin started, that's why I said this.
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but still very realistic and with slim chances of it happening,
No way man. there not even any slim chances of happening that. that's not even possible
THE QUESTION
Lets say you woke one morning, and decided to check one of your wallets, and amazingly, you found $1 million dollars worth of bitcoin sitting there, this money was mistakenly sent to your wallet from a wallet address you do not know who it belongs to, but you are very sure it's not from an exchange.
What will you do?
Will you immediately sent the money back to the address it came from?
Or would you keep and spend it?
Or would you just it leave it for a very long time with touching it? If yes, for how long are you going to leave it? And at the end, what will you still do?
Lets have a good discussion on this please..
first of all that's not possible. but lets go with the fun and assume it happened.
then I first of all I would not touch them because they could be from a crypto heist. spending them or sending them to an exchange could get me in the trouble.
after a significant amount of time when nothing happens I'll start spnding them little by little. I'll leave all my jobs and retire.
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THE QUESTION
Lets say you woke one morning, and decided to check one of your wallets, and amazingly, you found $1 million dollars worth of bitcoin sitting there, this money was mistakenly sent to your wallet from a wallet address you do not know who it belongs to, but you are very sure it's not from an exchange.
What will you do?
This kind of mistake can really happen, whether with small or medium or even very large amounts. Because after all, this is a digital world where errors in inputting data can occur, and that is quite normal.
The first expression of course I would be was very shocked and couldn't believe what I was seeing. That is for sure.
secondly, I will think about who this is from and of course I will find out first.
Normally, we would definitely feel very happy because we really got such a large amount of money. However, if we really use it, can we be calm? Is it true that we can really be calm for the rest of our lives by using that much money for our lives or even our children? Will we never think about the party who feels the loss> What if that happens to us>
I'm not a hypocrite, but, really, I want a quiet life, and don't want to think a lot about old age or worry about bad things happening.
I might think about returning it soon, minus the fee that has to be paid to the wallet. Because after all, we definitely know the sender's wallet, right?
What I'm still confused about is what if it comes from the mixer? Is it okay if we return it to that address?
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Many expecting to return it, but money can change everything including our attitude. :P I will not return all of it. Of course all of this are just a fantasy because this will never happen in real life. :P
Even if this happens and we actually find a wallet that contains more than 1 million USD, we will definitely be shocked.
If you return half the Bitcoin that was sent by mistake, maybe I will return 80% to the owner of the wallet, but unfortunately it takes a lot of trust to be able to send the Bitcoin back to the owner.
I'm afraid there will be people who admit that it was their Bitcoin that was transferred incorrectly because in this world there are lots of ignorant people who want to control other people's assets. And 20% for me, maybe I will save the Bitcoin until my old age. :D
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Many expecting to return it, but money can change everything including our attitude. :P I will not return all of it. Of course all of this are just a fantasy because this will never happen in real life. :P
- I believe what you said, mate: money changes people's behavior; it brings out the true colors and true personality of an individual. And most of these people are the ones who mostly came from poverty and became rich.
When the others forget where they came from, suddenly they feel like they can no longer reach or be on the same level as poor people. That means some people suddenly have bad habits just because they have a lot of money, but I don't think that everyone who became rich from being poor is like that.
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What will you do?
Given that it was not mine then I will return it if someone want it back and has accidentally sent it to my wallet. But of course it will be returned in due process. Conscience will haunt me forever if I am not gonna return what's not mine.
Will you immediately sent the money back to the address it came from?
No. I will wait for confirmation on social media, news outlet or crypto community about the incident or any other legitimate source to validate the accident.
Or would you keep and spend it?
I will just keep it and as I said I am not gonna spend it it's not mine.
Or would you just it leave it for a very long time with touching it? If yes, for how long are you going to leave it? And at the end, what will you still do?
Yes probably leave it and forget it in my wallet. I know how tempting it is to use it for my own good but it's not mine. When I die then it's all gone so maybe if no one will claim it for long then I might send it back to the same address since we don't know when will be our last.
*If you have doubt about our answers then why not try sending that amount right now? 😁
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So, guys and ladies..
I was thinking of something to discuss here, something that may likely not happen, but still very realistic and with slim chances of it happening, so, this idea came into my head, and I've actually asked myself this question over and over again, and the Answer in my head made me discover that, I may not actually trust myself completely to do the right thing at all times, and I can't really explain how it makes me feel..
So, I am going to ask you guys the same question, and one thing I ask of is, that we all look inward ourself, look outward as well, think about how far this can take you in life, and your family as well, and be very honest with your answer.
THE QUESTION
Lets say you woke one morning, and decided to check one of your wallets, and amazingly, you found $1 million dollars worth of bitcoin sitting there, this money was mistakenly sent to your wallet from a wallet address you do not know who it belongs to, but you are very sure it's not from an exchange.
What will you do?
Will you immediately sent the money back to the address it came from?
Or would you keep and spend it?
Or would you just it leave it for a very long time with touching it? If yes, for how long are you going to leave it? And at the end, what will you still do?
Lets have a good discussion on this please..
So I get sent 25 btc that does not belong to me.
If it is sent to a clean address that I know is still anonymous it is a different case then if it is sent to an address I know is not private.
here is an address I know is traceable
1FAdsGRPiurSd7Mg86yiG7pvmyED2yo6pg if it is sent here I would contact a lawyer as I know eventually the funds will be traced to me.
the address below is fresh and it was not traceable to me
1QAiVU1sr9DaPwnU7JEZLVSLsC9hELjfGt
It is now obvious that it is traceable to me.
But let's say I did not post it and was using it to mine solo. So it was still empty and not traceable
If the funds went there I would know no one would know who owns the address. This would be really tempting as it would very likely have been an accidental entry and someone would be freaking out.
I likely would move it one time to a new fresh address as it could be a collision (really next to impossible) and it could mean someone else could access it.
A super rare never proven event but it is possible.
So once I moved it to a new address> I would look to see if info turns up about an accidental 25 coin send.
I would not be waiting a few weeks to cash it out.
BTW I mine to this address. https://pool.laurentiapool.org/#/user/146UJM5kgzLVUV23CXCf33KQKHckoX1gx3
https://pool.laurentiapool.org/#/miners
I know sometimes very high fees are accidentally sent.
and this pool pays fees out of if the fees were 100 btc and I got 35 coins I would get a lawyer as I know that address is known to be mine.
I would announce I got the fees and do exactly what was needed to return them. I can not vouch for the others that would share those fees.
But that pool would send the fees directly to the 4 addresses on the list. I would get 35 percent of the fees.
As USA citizen that reports mining coins I would do what I need to do to be tax compliant
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I think returning the money is the right choice to avoid any kind of problem, here we are talking about a lot of money, you don't know what could be behind it.
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I know that the right thing to say would be just "I would give it back" and it is of course easy to say that right now when we do not see the money. But are we really going to not give it back when we see the money? Just made up question is easy to answer, but when you actually see the money its not easy and I think many who say they would give it back could fail. I would probably just not touch it for a long time and expect someone to reach out to me. Lets be honest, if someone sends a million dollars, then I would guess they will try to contact you, and if I am %100 sure that they are them, I would just give it back, but if I keep it for a long long time and they do not contact me, I may start to slowly spend, not all of it, but small piece by piece.