If you have sent cryptocurrency to an incompatible wallet (such as BTC to a BCH wallet) your funds are likely lost. However, we can attempt to find and recover the funds for a fee of $1,000. Please print, sign and return the following document attached to a Support Ticket.
Warning: If the crypto was sent from your CoinZoom account to an external wallet, CoinZoom cannot cancel or reverse the transaction nor help you recover it. Please contact the owner of the receiving wallet to seek their cooperation and assistance in returning the funds. If you do not know the owner of the address, there are no possible actions you can take to retrieve the funds.
Because of this, it is essential to exercise caution when sending. It is always recommended that you double-check that the address you are sending to exactly matches the address of the recipient before sending. Best practice is to send a small amount of crypto on the first transfer to any wallet. While you will pay the withdrawal fee, it doesn't put the entire amount at risk.
Re: CoinZoom, Inc.
Customer Release and Acknowledgement for Recovery Attempt
Funds sent to Wrong Wallet or Different Blockchain
This Agreement ("Agreement") is made and effective as of the date signed between Customer (or you) and CoinZoom, Inc. (CoinZoom or we).
Notwithstanding the CoinZoom Terms of Service which you agreed to be bound, CoinZoom may in some circumstances have the ability to recover funds sent to the wrong wallet address or to the wrong or different blockchain (misdirected funds).
The process of attempting to recover misdirected funds takes time and requires coordination between our security team, engineering team and our crypto custodian's technical team to accomplish and sign all the transactions properly.
Due to the sensitive nature, costs, disruption and risks associated with attempting to recover misdirected funds, CoinZoom will attempt this on a “best efforts” basis with no guarantee of success at a cost of $1,000 (paid out of recovered funds) for each transaction being recovered. Additionally, it may take between 7-10 days to determine whether the attempt was successful.
By signing this release, the Customer is voluntarily requesting that CoinZoom waive the applicable provisions of the Terms of Service in exchange for the 1st US$1,000 of recovered misdirected funds, and agrees to release and discharge the CoinZoom and CoinZoom’s successors, employees, officers, and directors for all claims, liabilities, and causes of action, known or unknown, fixed or contingent, that arise from or that are in any manner connected to this attempt. This release includes, but is not limited to claims of defamation, libel, slander, negligence, or interference with contract.
The Customer acknowledges that he/she has carefully read and fully understands the provisions of this release and further acknowledges that he/she was given the opportunity to consult with an attorney or any other individual of his/her choosing before signing this release and that he/she has decided to sign this release voluntarily and without coercion or duress by any person.
Name (Printed) ____________________________
User ID ____________________________