BEFORE YOU SEND CRYPTO
A cryptocurrency transaction is normally sent to a specific blockchain address. If you send assets to the wrong address, recovery may be difficult or impossible depending on the network, asset and recipient.
THE CORE PRINCIPLE
VERIFY THE DESTINATION BEFORE YOU CONFIRM THE TRANSACTION.
01 · DO NOT TRUST A COPIED ADDRESS AUTOMATICALLY
Malicious software, compromised devices, clipboard manipulation or simple human error can result in a different address being pasted than the one you intended.
02 · COMPARE THE ADDRESS
Check the destination carefully before confirming. For important transfers, compare enough of the address to detect an unexpected change and use a trusted source for the destination.
03 · CONFIRM THE NETWORK
The address and asset must be used on the appropriate network. Sending through an incompatible network can create recovery problems.
04 · BE CAREFUL WITH SAVED ADDRESSES
An address saved previously should not automatically be trusted forever. Confirm that it is still the intended recipient, particularly for a high-value transaction.
05 · CONSIDER A SMALL TEST TRANSFER
Where practical and appropriate, a small test transaction can reduce the risk of a larger transfer going to an unintended destination. It is not a guarantee of recovery if something goes wrong.
EXAMPLE
You copy a wallet address from a chat and prepare to send funds. Before confirming, you notice that the address displayed in your wallet does not match the trusted destination you expected. Stop the transaction and verify the address through an independent trusted source.
WHAT TO DO
- Verify the recipient.
- Verify the address.
- Verify the network.
- Check the amount.
- Treat unexpected address changes as high-risk.
WHY THIS MATTERS
Blockchain transactions can be irreversible. A final verification step can prevent a costly mistake.