The world of blockchain and digital currencies is a nascent industry, and unfortunately, common mistakes among users have caused the loss of lots of funds. During these three years, as the first and only official representative of hardware wallets in Iran, we were serving digital currency activists in the country. The loss of digital assets, was for multiple reasons such as sending currency to the wrong address, sending currency to the wrong network, lack of access to assets through keywords, etc.
After technical reviews with the technical department of SafePal Company, in March 2021, a special section was created in the Iran SafePal Company, with the presence of experienced experts in the fields of security, cryptography in cooperation with the technical and support team of SafePal Company to recover the lost crypto currencies that were sent to the wrong address or network.
With this brilliant performance, IransafePal company has been able to successfully recover more than 600 cases of users' lost capital.
The market of cryptocurrencies has infrastructure that has facilitated and enabled investment for Iranians who wish to use this field at the global level. On the other hand, it should be kept in mind that this market can be risky and dangerous as much as it can be highly profitable. In the first step, to buy digital currency, a software or hardware digital wallet is needed to keep these purchased currencies in this wallet safely.
Due to the virtual nature of cryptocurrencies, it is not possible to store them in a physical wallet, so using a suitable digital wallet to store digital currencies is considered important. Iran Safe Pal, as the first and only official representative of hardware wallets in Iran, provides you with the important opportunity to protect your valuable assets in a completely safe way, because this wallet is your signature to confirm the transaction to work.
In some cases, unfortunately, there is no way to recover currency that was sent to the wrong address.
It is better to be fully aware of this issue before making a transaction and check the details Is very important. Be sure to check the address and network again before confirming the transaction, usually we check the first four letters and the last four letters after copying and pasting, there have been cases where hackers put their wallet address in the phone's clipboard. You save it and after copying and pasting the wallet address, you paste the hacker's wallet address, and the best way to transfer currency is scanning the wallet address. it should be noted that you must avoid typing the wallet address separately.
Common mistakes in transferring digital currency
While transferring cryptocurrency to the exchange account, choose the correct network with vigilance and obsession. Among the common mistakes, for example, Binance Smart Chain (BEP-20) or (BEP-2) mixed up with Ethereum (ERC-20) and as a result, coins or tokens are sent to the wrong blockchain.
We all know that we should choose the same network for the transaction that the sender or receiver of that currency has chosen. In other word, the blockchain network of sender and receiver must be the same. Choosing a network sometimes depends on the token standard, for example, is it ERC-20 or BEP-20 or BEP-2?
If you have sent your coins to the blockchain by mistake, the first step is to know the type of wallet you transferred to. If you have access to your private key or recovery phrase, your wallet is non-custodial; And if you don't have access, the wallet is a centralized type (custodial).
Since in the world of digital currencies we constantly encounter sensitive cases that are similar to each other, sometimes with just a small mistake such as entering a wrong number or wrong click, it is possible that the assets transfer to the wrong place.
You should know that recovery phrases or mnemonic phrases of your wallet are considered as documents of your digital assets, and the owner of recovery phrases or mnemonic phrases is known as the owner of that asset, and you must after launching Your safe bridge hardware wallet, write them down on the sheets in your SafePal hardware wallet box and keep them in a safe place and do your best to preserve and maintain these phrases.
After opening the two security labels of the SafePal S1 hardware wallet box, you will see two keyword registration sheets, which are numbered from 1 to 24 on these sheets, and you can write your keywords on this sheet. Register these words can be selected in 12 words, 18 words and 24 words format, which our technical experts in Iran SafePal company emphasize to use 24 words format.
Be careful in writing the words so that all the letters and words are legible and clear for you, after filling both forms put them in a closed envelope and keep them in a place so your words will be safe from loss, damage, theft or Any other event.
The ways to access your assets and recover them is to recover your hardware wallet, your software wallet, using recovery phrases or keywords (mnemonic phrases). Do not take photos of the keyword registration sheets, do not save them in the digital space and don't give it to anyone. For this reason, in order to emphasize these issues, the SafePal company has written recovery phrases or mnemonic phrases inside the SafePal hardware wallet box on the two registration sheets:
1.Keep this card in a secure location. Once this card is lost, the asset will be gone as well.
2.Do not take photo of this card nor show it to anybody.
3.In case of device damage or lost , recover your asset on a new device with the seed.
What are recovery phrases or keywords (mnemonic phrase)?
recovery phrases or keywords (mnemonic phrase); It is a list of 12, 18 or 24 words that stores all the information needed to recover your wallet. Writing correctly, legibly and correctly and maintaining the security of the recovery phrase is your most important task in using the SafePal hardware wallet. The reason for our repeated emphasis on maintaining these phrases correctly is that we have seen many cases of users who did not adequately protect their recovery phrase and lost all of their crypto currency assets.
In which conditions can recovery phrase or keywords (mnemonic phrase) be used?
If you need to restore the SafePal hardware wallet due to the loss, theft or damage of the hardware wallet, you must use the recovery phrase (mnemonic phrase) to regain access to your assets.
Before any explanation, you should know that your Cryptocurrency assets are not technically stored in your hardware wallet. The information about each cryptocurrency is stored in the blockchain network. The order of the words you wrote (mnemonic phrase) is the key that allows you to access your cryptocurrency asset.
Your recovery phrases or mnemonic phrases come from a list of 2042 words with the BIP39 standard. All valid wallets work With this standard and all SafePal wallets also support this standard, which means that you can recover your digital assets on any SafePal wallet.
Notice: You should consider that software wallets are much more vulnerable than hardware wallets; Because the recovery phrase is stored on a computer, network or on a server connected to the Internet.
In the SafePal hardware wallet, the recovery phrase and private key with the most advanced encryption mode is stored on the hardware chip of the SafePal hardware wallet, the most notable point is the sensitivity of the SafePal company to security, the wallet chip SafePal hardware wallet got self-destruct option, which is the most advanced security system of wallets in the world.
If the technology reaches the ability of being abale to recover the private key from the hardware chip, the chips of the SafePal hardware wallets will have any possibility of unauthorized physical access. They delete all the data, which makes your digital assets safe and secure.
The most important asset protection rule that applies to all digital currency software and hardware wallets is to never store your recovery phrase in digital systems, especially devices that are connected to the Internet. As mentioned before, never take a picture of your recovery phrase, never save it to cloud storage and email, and never upload the phrase to social networks in any way.
The most secure way to save hardware wallet recovery phrase:
SafePal Company has introduced a production called SafePal Cypher Seed Board to preserve and maintain keywords in a safe and secure way. Cypher is the safest way to preserve and maintain keywords, and we, the technical experts of Iran SafePal Group, Those who have more than a thousand dollars in their wallets are recommended to use the SafePal Cypher Seed Board to store recovery phrases, IranSafePal company as the first and only official representative of SafePal in Iran, comprehensive training Regarding the SafePal Cypher (SafePal Cypher Seed Board), which you can access from the following links
Why does our Crypto currency wallet become inaccessible and assets disappear?
In the technical department of IranSafePal, we usually receive a lot of calls from people who have lost their wallets for any reason (lost, stolen, forgotten, etc.), in this field we have taught the solutions of keeping and maintenance of digital currencies in different ways, which you can find on Aparat, YouTube, Telegram and see the education and articles section of the IranSafePal site.
The digital currency wallet is designed in a way that interacts with different networks or blockchains, and you can use this method to easily transfer your digital assets and currencies (SafePal hardware wallet, supports more than 48 blockchain network, which is the largest number of supported networks among all hardware wallets in the world) in the SafePal cryptocurrency wallet, users can easily view and control all their digital assets separately and have a history View and review of all transactions separately.
The simple user interface of SafePal hardware wallets has made it possible for users to quickly and accurately find out about the status of their wallets in real time and to easily send and receive different currencies in different networks.
SafePal hardware, software and web wallets, like all other crypto currency wallets, consist of two private and public codes, private key and public key, which allows using them to have access to different crypto currencies in different networks; and carry out all kinds of transactions on the crypto platform, such as transferring currencies to wallets, exchanges, or vice versa. In fact, private codes are similar to bank card codes and public codes are similar to bank account numbers.
The world of cryptocurrencies buying and selling can be complicated, especially if you are not completely familiar with it. One of the common mistakes among market participants is making the wrong crypto currency transaction. Sending currency to wrong address, an unknown person or another network is one of the common mistakes.
Contact us if you have any of the following problems and request to recover your crypto currency.
Blockchain standards and networks
In the world of digital currencies, there are various standards or blockchain networks that you can use to send, receive or store your currencies in these networks if your software or hardware wallet supports it. SafePal S1 hardware wallet has the ability to support more than 48 blockchain networks, which is the top of all hardware wallets in the world.
Recovering SafePal wallet
Mnemonic phrases are words that contain the necessary information for account recovery.
When we install SafePal wallet, phrase of 12 or 16 to 24 words will be displayed, which is recommended by the technical unit of Iran SafePal to choose 24 words. Any time your hardware or software wallet is lost or unavailable, you can use these words to recover your assets in any of the wallets.
The most common mistake while sending currency
Choosing the wrong network is one of the most common mistakes users make when they want to transfer their digital currencies. The most common transfer between BEP20 and BEP2 and ERC20 and TRC20 networks are usually confused with each other. Then billions of digital currencies have been lost due to simple human error.
Recovery with Iran SafePal team
According to the statistics of Cointelegraph, unfortunately, more than 90% of users who lost their assets through this human error will never get their assets back. And they are lost forever. After sending currency in the wrong networks, losing recovery phrases or keywords (mnemonic phrase) is the second most common reason for losing digital assets (currency or token).
Many users are also faced with zero balance after recovering their hardware or software wallet, which is one of the cases that recovery department of Iran SafePal company is facing.
Due to the AI of the SafePal software wallet, if a wrong network address is entered for a currency, the wallet usually recognizes it and does not allow you to make the transaction. But this is not the case in blockchains, for example: Smart Chain (BEP-20), (BEP-2) and Ethereum Blockchain (ERC-20) because they have similar formats, the wallet did not recognize that the address was wrong and the transaction was carried out.
Almost SafePal wallets and exchanges that can be used to send or receive bitcoins know the difference between the addresses of different digital currencies. for example, when sending bitcoins, if the Tron network address is entered instead of the bitcoin address, the SafePal wallet or exchange recognizes and declares that the entered address is invalid, but since the main format of Bitcoin addresses is the same as Bitcoin Cash addresses and all Bitcoin forks, if the user of Bitcoin Cash address or one of the forks Enter Bitcoin instead of Bitcoin address, the transfer operation will be confirmed.
We, IranSafePal company, were always looking for an answer to the needs of our users, and after many coordinations, for the first time in Iran, with the coordination and direct assistance of the technical team of the SafePal Company, the recovery of lost currency assets in Iran SafePal started and is currently active, this department, which was welcomed more than we expected, was able to recover a very significant number of lost cryptocurrencies to their owners in the period of one year of its activity, this department In one year of its operation, became the most trafficked part of the company and it is the busiest part of the company.
You should consider that if a cryptocurrency is mistakenly sent to an address, it is known as a burnt token. In some cases, unfortunately, there is no way to return currency that was sent to the wrong address. It is better to be fully aware of this issue before making a transaction and check the details of the transaction very carefully.
when user wants to send currency, check the destination address with the recipient, the network and the blockchain of both the address of the recipient and the sender is very important Even old addresses that you have sent multiple times.
The good news is that many digital currency mistakes or problems can be solved.
With more than three years of experience in the field of providing hardware wallet services, IranSafePal's technical team has faced many of these types of requests, and according to our policy in these years of providing the latest and newest solutions It was the need of the users of this field, and the security of the cryptocurrency field is our priority.
If you have such problems in the world of digital currencies even for the past few years, Just call us.
For better communication and faster results, please consider the following items:
-mentioning the necessary details in a text message (WhatsApp number 09102143220)
(avoid sending voicemail, short and numerous messages)
-Attach all necessary general details. Exact address of recipient and sender in text and photo, type of blockchain of recipient and sender, hash address, transaction in detail, wallet and transaction time, etc.
-Announcing individual details
-Sending a photo of your Iran SafePal warranty card is necessary, special conditions and facilities are considered for customers and owners of Iran SafePal warranty cards. If you are not a customer of Iran SafePal, please include this in your message.
-issues in exchanges:
Banning Binance account
Banning of Quinx user account
Blocking the account of Coin Tiger
Banning of cocoin user account
Blocking Hotbit account
- Sending currency or token on the wrong network:
sending from Tron network to Ethereum network
sending from Binance Smart China network to Ethereum network
sending from Binance Smart China network to Tron network
transmission from Tron network to Solana network
Sending the wrong currency or token on the wrong network from the exchange to the wallet
Failure to display the balance or freezing of the user account of the exchange
Losing account information including two-step login or password
-Solve wallet problems:
Solving the problem of transferring to the wrong address in the wallet:
Nano Ledger S and X
-User problems with wallets:
Non-display of currency or token on different platforms in SafePal hardware or software wallets
No display of currency or token on different platforms in the wallet
Not sending currency or tokens from hardware or software wallets
Losing the password or PIN code in the wallets SafePal, Metamask, Soulflyer, Trust Wallet, Coinomi, Electrum, Atomic and...
Failure to recover wallets with recovery statements
misprinted 2 to 5 recovery words
Forgot password of old bitcoin wallets
Blocking in web wallets such as Blockchain or Btc.com
Unable to recover TrustWallet
ViaBtc wallet recovery
Ledger Nano S wallet recovery
Ledger Nano X wallet recovery
Recovery of older generation hardware wallets until 2022
1) What is Lost Cryptocurrency?
Digital assets that are accidentally sent to the wrong address or on the wrong network during a transaction are called lost cryptocurrency. In addition, digital assets that cannot be accessed for any reason (forgetting, lost, hacked, ... recovery terms) are called lost digital assets.
2) Can lost passwords be recovered?
Yes. In many cases, lost capital can be recovered. For more information, contact IranSafePal support team.
3) What is the most common mistake among users to lose capital?
The most common mistakes crypto users make include the following:
Sending crypto to the wrong address
Sending cryptocurrency on the wrong network
No access to recovery statements
There are many other ways to lose crypto assets, including hacking.
4) How do I get my lost currencies back?
Recovering lost currencies is difficult and complicated task that requires specialized and advanced knowledge. contact IranSafePal support team as soon as possible so that our experts, depending on the circumstances which you lost your capital, will investigate your problem and recover your digital assets.
5) What does it mean sending currency to the wrong address?
In cryptocurrency, to transfer currency from one wallet to another, a destination wallet address is required. This address, which includes lowercase, uppercase letters and numbers, must be entered accurately in the destination address. Otherwise, even by moving one character, the currency of the transfer will never be sent to the destination wallet address, if this new wrong address is the wallet address of another individual or legal entity, the sent cryptos are most likely unrecoverable. But if the address you entered does not belong to anyone, the transferred currency can be returned under certain conditions.
In any case, the best thing to do is to contact the experts in the field to check the conditions in detail.
6) What does sending currency on the wrong network mean?
Digital currencies can be transferred on different networks such as Ethereum (ERC20), Tron (TRX), Binance Smart Chain (BSC), etc. To transfer any cryptocurrency (whether Bitcoin, Ethereum, BNB, Tether, Tron, etc.), both the source and destination addresses must be on the same network. For example, if you want to send Tether on the Tron network, the destination address must be the Tether address on the Tron network. In case of sending currency on the wrong network, it is possible to return it more than other ways.
7) Wrong transmissions usually take place between which networks?
Since there is a lot of name similarity between some blockchain networks, sometimes users get confused.
In the most common cases:
Ethereum network (ERC20) with Tron network (TRC20)
And BEP20 network with BEP2 network.
8) How many different blockchain networks are there for cryptocurrency transfers?
As blockchain technology is advancing every day, new cryptocurrencies are also on the rise. Some of these cryptocurrencies are launched on their own network and others on the networks of other coins. Therefore, it is not possible to imagine an exact number for the number of active blockchain networks in the cryptocurrency world.
For example networks that are supported by Binance exchange:
Binance Smart China Networks
9) Is there only one transmission network for each currency?
The answer depends on the currency.
Some currencies can only be transferred on their own network. If there are many currencies like Tether that can be transferred on many blockchain networks.
10) What is the best way to transfer currency in crypto?
In fact, it is better to say what is the best way to register the destination address without worrying about being hacked or changing the letters of the destination address?
Scanning the special QR code related to the desired address for sending is the best and most reliable method of registering the destination address and transferring the cryptocurrency.
11) What are the methods to access to digital wallet and steal the assets?
The only way to access the assets in a hardware or software wallet is to have access to that wallet's recovery words, and there are many ways to hack these words. Everyday, hackers invent new ways to access recovery passwords of crypto users. Hackers sometimes get access to your keywords through virus software, sometimes by sending malicious links, and sometimes by scamming. There are much more sophisticated methods of hacking that if a professional hacking group targets a particular wallet, they can hack the desired wallet at a suitable opportunity.
Be careful that if you follow security measures to protect your digital assets, you can reduce the possibility of your wallet being hacked.
In 99% of the times users make mistakes.
12) What is the difference between returning lost property and wallet recovery?
Lost or misplaced cryptocurrency returns happen when you've made a wrong transfer and no longer have access to your assets.
Now, recovering the wallet means importing or restarting the crypto assets that you have access to. This access is through security words that are available to the owner of the wallet.
13) How do I know if my wallet is centralized or non?
If you have access to your private key or recovery phrase, your wallet is non-custodial; And if you don't have access, the wallet is of a centralized type (custodial) (like the wallets that are in the exchange).
14) Is there a reliable team to recover lost digital currencies?
15) Can I share my keywords if I lose my digital asset?
One of the easiest scams for profiteers is to claim the return of your lost digital asset. Many cases have contacted us and reported that their wallets are empty. Profiteers without any special ability to help the people who are under high pressure conditions, ask for keywords for recovery and empty it as soon as they get access to the wallet. Be careful not to share your keywords with anyone else.
16) What is the best way to avoid digital currency wallet scams?
The most important asset protection rule that applies to all digital currency software and hardware wallets is to never store your recovery phrases on digital systems, especially devices that are connected to the Internet. As mentioned earlier, never take a picture of your recovery phrase, never save it to cloud storage or email, and never upload the phrase to social media.
17) Is it possible to transfer from Ethereum network (ERC20) to Binance network address (BEP20, BEP2)?
The answer is both positive and negative! The point is that such a transfer can take place not only between the ERC20 and BEP20 networks, but also between any two other networks and the transaction will be done, but the transaction will never be successful and the cryptocurrency will not be credited to the destination account. This transaction will be done and be considered as a wrong transaction and the transferred digital asset will be lost.
If you have made such a mistake, contact the Iransafepal support team as soon as possible.
19) Is it possible to cancel a wrong transaction?
No, Once a transaction is approved by you, the information related to it is stored in the relevant blockchain network forever and cannot be canceled. It is only possible to use complex technical and programming methods to reconstruct this transaction in the blockchain space, which you can contact us to find out about possibility.
20) What is the best network for transferring cryptocurrencies?
There is no answer to this question, but the different blockchain networks for transmission can be examined from two perspectives: the speed and cost of the transaction.
The higher scalability of a network, the higher transaction speed.
Some networks have very high transaction fees. Obviously, a lower transaction fee will benefit the user.
With these interpretations, it is better to always look for a network to carry out our transactions that will move our currencies in the shortest possible time and at the lowest cost. The most popular networks that have these features are the Tron network (TRC20) and Bibenance Smart Chain (BSC).
21) In case of theft or loss of a hardware wallet or phone, is it possible to steal currencies?
This issue depends on the security of your wallet; Anyone with your wallet and wallet password can Steal assets.
So it is better not to use simple passwords as always emphasized.
22) Is there a specific period of time to recover the lost currency after making a wrong transaction and losing the currency?
Fortunately, no, and the currency can be recovered without a time limit.
23) Can lost currencies in DeFi projects and staking projects such as Pancakeswap, crv and compound be recovered?
Yes. In some cases, it has been observed that cryptocurrency has been transferred from personal wallets to liquidity pools, but after some time, users are unable to see and withdraw their cryptocurrency. There have been cases where the desired liquidity pools have been active for certain periods of time, and after the end of the period, users' cryptocurrency activity has disappeared. In this case, lost passwords can also be recovered.
For more information, you can contact IranSafePal support team.
24) Lost currencies can be recovered in which wallets?
In fact, lost cryptocurrencies can be recovered in all wallets such as Metamask, SafePal, TrustWallet and any other valid wallet that provides recovery terms.
25) How to find out if our wallet is at risk of being hacked?
Hackers use different methods to steal cryptocurrencies from the wallet, but most of these methods are based on the user's own mistake.
For example, after tracking your wallet, they transfer small amounts to your wallet so that the address of wallet is in the list of recent transactions, and if you intend to transfer the currency to the wallet address, Copy the wallet address from the last transactions and enter the hacker's wallet address instead of the wallet address.
The best thing to do to avoid such issues is checking the address of the wallets during the transaction.
26) What is the best solution to prevent the loss of currencies?
In fact, the main reason for losing cryptocurrencies is personal negligence.
It is better to use the scanning of the destination wallet address to transfer the cryptocurrencies, and after making sure that the network of the source and destination addresses are the same, transfer a small amount at first, and after making sure that the transaction is executed correctly and the currency reaches the destination wallet, Complete the original transaction.
The point of Using SafePal wallets is that it warns users in case of comparison of source and destination networks
26) Can hacked passwords be recovered?
Unfortunately, if the currency is hacked and stolen, it is impossible to return it to the wallet. However, if the stolen currency is transferred to the exchange, it is possible to obtain the name and details of the account owner with the cooperation of the exchange and take legal action.
For more information and free consultation, you can contact IranSafePal support team.
27) Is it possible to recover lost cryptocurrencies that were transferred from the exchange to the wallet or vice versa?
In this case, you should contact the support of the exchange and raise the desired problem. Binance exchange used to cooperate with users in the past, but currently, due to the large number of wrong transactions, most foreign exchanges do not cooperate with Iranian users. you can contact the IranSafePal support team For more information and free consultation.
28) After the transaction, how long does it take for the cryptocurrency to transfer to the destination address?
For each of the digital currencies, depending on the platform and the network, a specific period of time for each transaction is defined by the developers of that network.
For example, the usual standard for transferring Bitcoin is 60 minutes, and in networks such as Tron and Ripple, transactions are carried out at a much higher speed. Of course, there is also a solution that you can pay more fees during the transaction process so that your transaction is approved faster. You can see the details of each transaction.
30) What is Explorer and how can it be used to view transaction details?
Blockchain Explorer or Blockchain Browser is a platform to find all information related to blocks in the blockchain world.
You can see the details of each transaction, wallet balance, transaction fees, etc. in Blockchain Explorer.
They are the most widely used blockchain explorers.
31) How is the process of recovering lost passwords done?
After the transaction, the currency is first removed from the wallet and after confirmation, it is transferred to the destination wallet address. In case You have made a mistake in the destination address on the network, the currency will not be transferred to the destination address after leaving your wallet, and the destination address will not be confirmed.
In Conclusion, you need to define the destination address for the lost currency and after proving the ownership, transfer the currency to your wallet.
32) An amount has been transferred from an exchange to a wallet, for example, Atomic wallet, but the destination wallet does not support the transferred network from the source, is it possible to recover the cryptocurrency?
Yes, in this case it is also possible to recover the lost currency, most wallets have restrictions in different networks, such as Atomic wallet.
It is better to use wallets that support all networks.
Among all digital currency wallets, SafePal has the widest range of support for different networks and tokens.