Seriously all crypto exchanges: You all goddamn live and breathe on the back of blockchain technology, so why the ever living jesus fuck do I have to send a complete stranger on your support chats, all my ID details. Why can’t you use some other blockchain-based privacy method that’s less shit

Seriously all crypto exchanges: You all goddamn live and breathe on the back of blockchain technology, so why the ever living jesus fuck do I have to send a complete stranger on your support chats, all my ID details. Why can't you use some other blockchain-based privacy method that's less shit submitted by /u/funkidredd
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Bitcoin – The Currency of the Internet

Story: A Coinbase user accidentally sends bitcoin to a litecoin address. Coinbase support claims it’s not recoverable. Someone on Twitter helps the user recover the funds successfully.

Just listened to the story on the recent Blockdigest episode. The TL;DR is in the title.

It's of course the mistake of the user to not being careful enough, but also negligence on part of Coinbase not to have any sort of warning or restrictions in place for sending bitcoin to a litecoin address (which seems like an easy and reasonable thing to implement).

But particularly negligent is to claim that the funds are not recoverable anymore, which is simply not true, and luckily, another Twitter user was able to help recover the funds successfully (worth around $ 2.5k). So the Coinbase support was simply either incompetent or just lazy or lying, which is all equally concerning, as such cases are likely not very rare with all the newbies coming into the space and Coinbase is one of the biggest fiat on-ramps into bitcoin.

Timestamp to the story (as told by @brian_trollz, the person helping with the recovery): https://youtu.be/cvbm0YlKV04?t=3211

Link to the original Twitter thread: https://twitter.com/djjindra/status/1073096138893385728

And the follow up by @brian_trollz: https://twitter.com/brian_trollz/status/1073241960528429056

submitted by /u/TheGreatMuffin
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Bitcoin – The Currency of the Internet