Deposit mistake


systemshock
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Threads: 1, Posts: 1
#0

Pretty new to this site and was trying to deposit some USDT from poloniex to here. I mistakenly withdrew the USDT to my bitcoin wallet on here instead of my USDT one. Is there any way to reverse the deposit? 



Posted: 7/15/2017 11:08:06 AM
Blurb
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#1

This is usually a fatal mistake. USDT is a colored coin anchored to the BTC chain, that is why the deposit address was compatable and Poloniex was willing to send it. Unfortunatly, sending these coins involves sending 'magic' btc transactions for a tiny bit of btc (a few cents) , and having the wallet on the other end recognize the magic.

Sending them to an ordonary BTC wallet is bad, because  it doesn't know they are special, it thinks it is just a bit of ordinary btc. Sending to an exchange is fatal, because exchange hot wallets tend to move the btc around quite often, and the instant this little magic bit of btc is  moved, the magic gets destroyed, it just becomes a few cents worth of btc.

 



Posted: 7/22/2017 6:23:22 PM