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Retrieval of ETH BEP20 tokens?

Binance

Cryptocoins Exchanges / Binance 270 Views

Hoping I can get some help.

Over the past month or so, I've been learning a lot about crypto. I made a mistake of sending some BEP20 to my ETH address on Binance, not realising it only supports ERC20. I did this three times, for various different reasons. Actually, to be fair, one was on purpose for testing.

Anyway, there are three transactions.

  • 0.006946ETH
  • 0.07592ETH
  • 0.00785ETH

This is a total of 0.090716 ETH.

Binance say they can recover each transaction for 0.001BTC per transaction. I get that there is a fee and don't have a problem with that, but what does irk me is that they say this is per transaction. Why can't they just take one payment for the entire 0.090716ETH sitting in the wallet?

So, essentially, they want 0.001BTC (worth at this time of writing $40.27) to recover 0.006946ETH (worth at this time of writing $19.80), and they want a separate payment of another 0.001BTC to recover 0.00785ETH (worth at this time of writing $22.38).

It doesn't take a genius to figure out it isn't plausible to do that, and the only bit that would be worth it is doing it for the 0.07592ETH.

So, is there anything else I can do? Am I right in thinking that Binance hold the private keys for this wallet? Can I escalate somehow?

It bothers me that they are essentially making it unviable for anyone to recover funds, eventhough it is technically possible, by charging a fixed fee. I know it isn't a great amount of money, but on principle it bothers me - they essentially own those funds and can do with them what they please.

Definitely backs up "Not your keys, not your coins".

submitted by /u/Dinsdale87
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