Coinbase expands asset recovery tool to Polygon and BNB Chain
The cryptocurrency exchange will charge a 5% commission for retrievals above $100.
Crypto exchange Coinbase will soon enable users to recover lost assets sent to the platform’s unsupported blockchains, including BNB Chain and Polygon.
According to the Feb. 27 announcement, users who sent assets to Coinbase accounts on the BNB Chain or Polygon would simply need to provide their transaction ID and inbound Coinbase wallet address for the assets to be recovered.
“Historically, these assets have been unrecoverable, in part because our employees and support channels don’t have access to the private keys needed to reverse these transactions," the exchange said. For assets under $100, no fee is charged for recovery efforts by Coinbase. However, retrieving lost crypto over that amount would incur a commission of 5%.
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