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Topic
Board Beginners & Help
Re: Accidently sent Ethererum to my ERC20 address on IDAX exchange.
by
HCP
on 14/06/2018, 07:59:08 UTC
I sent ETH to Nexty (NTY) address on IDAX, the funds dont show in neither of accounts, and both address's are different. the TXID is 0x7c966aa02864f58c6ae0ff8d6079ad9f2cbfe80cacf6f14d48fc07d533ffa5c2
Interesting... out of all the tokens, NTY seems to be the only one that has a different address to the ETH address??!?

After a bit of digging, I've noticed that Nexty is NOT actually an ERC20 token... it would appear that it is actually a completely separate cryptocurrency running on it's own blockchain... it does not use the ETH network. So, you have not actually sent ETH to your IDAX ETH address (as would be the case if you'd sent it to one of the ERC20 token addresses).

You have sent ETH to an address that IDAX may not even have the private key to (depends on their private key -> address algorithm for Nexty). Quite why Nexty decided to use an address system that generated valid ETH addresses I don't know... but that seems like it could be a real trap for people who aren't careful.

Also... given this:
Quote
3.The address is not allowed to deposit other assets other than Nexty,and any other asset deposit will not be recovered
You might be in a bit of trouble with regards to getting IDAX to recover your ETH Undecided