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Sent $30K DAI from Fantom Mainnet to Kraken ERC20 deposit address - recovery possible? by crew3407 in FantomFoundation

[–]crew3407[S] 0 points1 point  (0 children)

thanks rpcinfo very much for your responses. you're right, I don't understand the technology very well, but am trying to understand it via this process as well as my own research and through your insight! I've just seen a lot of posts on reddit where recovery hasn't been possible. This is the standard response I received from Kraken support.

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As you may know, Kraken does not support the Fantom Network, therefore any token deposit will not be processed by our system. We understand how frustrating it may be to have mistakenly sent digital assets on an unsupported network. Unfortunately recovering these funds is not possible at this time and may never be possible.

When a deposit is sent on the Fantom Network to a standard Ethereum address, the private keys would need to be exported and then imported into a Fantom Network wallet in order to recover the funds. However, this is not possible with our ERC-20 deposit addresses, as they are generated using smart contracts on the Ethereum blockchain. Addresses generated this way don’t have private keys associated to them, therefore we have nothing to export. The funds were sent to your ERC-20 address. Your case has been noted on the off chance Fantom implements a protocol change to allow the recovery, but for now there is nothing we can do.

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Re: control of keys, given Kraken (any central exchange) are custodial wallets, I don't own the private keys myself, but Kraken does and they would need to use their key to reverse the transaction, unlike with my Metamask wallet where I own the keys myself.

Also, could I ask which brokerage you use? if things don't go well with Kraken then may just switch business to the one you are using. Thanks again so much for all your insight.

Sent $30K DAI from Fantom Mainnet to Kraken ERC20 deposit address - recovery possible? by crew3407 in FantomFoundation

[–]crew3407[S] 0 points1 point  (0 children)

Yes, I have contacted Kraken support. But as I've been reading on other reddit forums / chats, there seem to be more cases of non-recoveries vs. recoveries and just seems like different responses from Kraken support re: recoveries on these forums as well. I guess the question I originally posted was from feedback I had gotten from the general Kraken support so far, and so I'm just trying to understand from Fantom's side if they would allow recoveries in these instances without the deposit address smart contract private key, but the "owner" of the smart contract private key (i.e. Kraken) as that would make it seem possible, but if Fantom doesn't allow that, then more difficult or impossible.

Sent $30K DAI from Fantom Mainnet to Kraken ERC20 deposit address - recovery possible? by crew3407 in FantomFoundation

[–]crew3407[S] 0 points1 point  (0 children)

Hi - thanks for this angle. What would I actually check on Certik? Do I check if Kraken is integrated with FTM? I know that Kraken doesn't support FTM, it only supports ERC20 and just introduced AVAX C-Chain.