Now you can retrieve Ethereum transactions sent to the wrong address

in LeoFinance4 days ago

Have you ever sent Ethereum to the wrong address? Or maybe you sent funds to smart contracts that don’t support deposits. In these cases, the only thing you could do was getting pissed off for losing your funds.

Kirobo, an Israeli startup, has developed a Retrievable Transfer functionality integrated in Metamask and WalletConnect in order to implement a solution to this issue.

As you can see in the image below, the sender chooses a password at the moment of sending ETH to an address. Funds will only be transferred if the recipient enters the same password.
In case the recipient does not enter the password, the sender can reclaim the funds, reversing the transaction.
This feature was already available for the Bitcoin blockchain and is now available for Ethereum transactions. Kirobo also announced that it will soon release compatible Retrievable Transfer functionality for every ERC-20 token transactions.

Join Ethereum Hodlers Clan in Torum, the crypto-focused social network, to keep you updated on Ethereum news and earn daily, weekly and special rewards for your engagement. Sign up using my link and earn 75 XTM airdrop after email and phone verification:

Posted Using LeoFinance Beta


Congratulations @makeitreal95! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You distributed more than 10 upvotes. Your next target is to reach 50 upvotes.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

It's nice to know this! Wish we had something similar on HIVE, I guess it would not be very difficult to implement.

Posted Using LeoFinance Beta

3rd party centralized solution. would stay away.

Posted Using LeoFinance Beta

We can now say bye bye to lost funds on ethereum... Sounds good.

Posted Using LeoFinance Beta