No one can send Bitcoin to an incorrect address, if you send Bitcoin to a correct address then before 4 confirmation you can delete the transaction but you will incur a fee. Electrum wallet gives that feature.
Wait a minute!!!!!!!!!!!!!!
You say you can delete a transaction from your electrum wallet after 3 confirmations?
On what planet is that possible?
1. When Bitcoin is sent to the wrong address, the funds are typically deducted from the sender, and the transaction is approved.
2. There is a 1/100 chance that someone else might receive the funds.
Completely false!
First!
There is a 1 in 2
32 chance of mistyping a valid address, that's 1 in 4.2 billions (and a bit)
Second!
There are 2
160 possible addresses and only around 2
31 addresses ever used.
So, let me put this in numbers:
You have a 1 in 4294967296 chance to hit one of the 1461501637330902918203684832716283019655932542976 valid addresses out of which the 1239567421 addresses ever used by somebody!
That means after getting a valid address from your mistype you have a 1 in 1179041667076812101276173901275212764594 chance to hit a previously used address!