Recently, I deposit 10 bitcoin on cube network(an EVM fork chain) to ftx. They said "Note that we do not support this chain as such these funds are most likely lost." My mental health has been greatly affected
If you have been “wronged” by "Coinbase Inc", you can file a complaint with the California Department of Financial Protection and Innovation (DFPI) at the following link: docqnet.dfpi.ca.gov/complaint/
Written by someone who doesn't understand how wallet infrastructure might work at an exchange.
The recovery difficulty may range from a few clicks to a team of developers working for a week + production change management. This really depends on a number of factors, the main being how well your architecture protects your hot wallet + if your exchange has built an integration with the blockchain in question.
If the exchange has taken steps to design the hotwallet architecture in a way that it does not expose private keys and only the system can unencrypt the keys and use them. For a system like this to recover tokens from a blockchain they have not integrated with, they need to do a lot of work (update their system + integrate with the chain then test all this and deploy to production following stringent change management procedures). So actually $20k is pretty reasonable for this.
Recently, I deposit 10 bitcoin on cube network(an EVM fork chain) to ftx. They said "Note that we do not support this chain as such these funds are most likely lost." My mental health has been greatly affected
GREAT post. People need to know this before they sign up for an exchange.
If you have been “wronged” by "Coinbase Inc", you can file a complaint with the California Department of Financial Protection and Innovation (DFPI) at the following link: docqnet.dfpi.ca.gov/complaint/
Written by someone who doesn't understand how wallet infrastructure might work at an exchange.
The recovery difficulty may range from a few clicks to a team of developers working for a week + production change management. This really depends on a number of factors, the main being how well your architecture protects your hot wallet + if your exchange has built an integration with the blockchain in question.
If the exchange has taken steps to design the hotwallet architecture in a way that it does not expose private keys and only the system can unencrypt the keys and use them. For a system like this to recover tokens from a blockchain they have not integrated with, they need to do a lot of work (update their system + integrate with the chain then test all this and deploy to production following stringent change management procedures). So actually $20k is pretty reasonable for this.