Who Sends Bitcoin to the Wrong Address?

Not anyone I know. And as much as I thought it had happened to me to be on the recipient side of such of transaction, it proved to be my own (wrapped) bitcoin. 😞 😄

So, two days ago Trust Wallet sent a notification on my mobile that I received an amount of BTCB. It wasn't a big amount, it was in the hundreds of dollars, but still... surprising.

My first thought was to be careful, it might be a scam, so as much as I wanted to see what this was about, I delayed checking it out until I had more time and I was fresh.

My second thought was, what if someone sent this amount by mistake although I doubt many write their outgoing addresses character by character, and those who do quadruple check. But maybe they pasted an address and by mistake, they replaced a character. Also not very likely.

My third thought was much closer to reality. Since the notification came from Trust Wallet and I pooled at some point a little BTCB with RUNE (for roughly 20% APR at the time), I concluded this must be related to that, even before checking.

Well, today I decided to solve the mystery and checked. I have noticed for a while this warning on Thorswap (or a similar one):

In the past, I didn't realize that my BTCB was on BNB Beacon Chain. I thought it was on BSC. Well, it looks like it wasn't.

What probably happened was that positions that involved BNB Beacon Chain tokens were automatically withdrawn from LPs when the time limit was reached, so that investors wouldn't lose them when BC is decommissioned on Thorchain. The fact that I also have additional RUNE in my wallet clarifies the mystery.

Just in case it would be an issue, I moved BTCB to BSC. I wanted to move it to native Bitcoin, but there wasn't a direct route from BC and I left it on BSC for now because apparently, there would have been a 33% slippage if I moved it to native Bitcoin, besides the fees.

Anyway, if you had any BC tokens on Thorchain, liquid, or in one of the products, you should check them out. Take a look if you are sure they are on BSC too... I was sure too...

This tweet gives more details on the subject.


Want to check out my collection of posts?

It's a good way to pick what interests you.

H2
H3
H4
3 columns
2 columns
1 column
Join the conversation now