Don’t Send Tokens to the Token Contract Address!
We’ve recently received requests from a few PumaPay users asking us to ‘refund’ their payments wrongly sent to the PumaPay Token address instead of the receiver’s. This article serves as a brief guideline for all less seasoned crypto and PumaPay holders on how to avoid the common pitfall of sending tokens to the token contract address and losing funds.
As a reminder, the PumaPay Token Contract address is:
When accessing this address, the user will be presented with the whole stream of transactions in chronological order.
As always on Etherscan, the transaction path is clearly indicated under the “From” and “To” columns, which show the sender and the receiver’s addresses, respectively.
As any transaction which takes place on the blockchain is irreversible, making sure that the receiver’s address is correct before signing the transaction is vital. Furthermore, if the funds are erroneously sent to the Token Contract Address, they cannot be recovered, remaining stuck on the contract. Blockchain developers say that solidity smart-contract programming language prevents token recovery once a certain amount of tokens was sent to the token contract. There is no function to enable such action on behalf of the ERC20 token contract. For more insights refer to the ERC20 token standard. Additionally, for those of you who are still in doubt about how blockchain works, let us step back in time and revisit a previously published article where we were speaking about the importance of being the master of your own data. In other words, if you’ve mistakably sent PumaPay Tokens to the Token Contract address, regrettably there is nothing that can be done from our side to recover those tokens for you and restore your balance.
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