Coinbase launches Ethereum chain-based token asset recovery tool

ChainCatcher news, Coinbase has announced the launch of an asset recovery tool that can help customers recover over 4,000 Ethereum-based ERC-20 tokens sent to Coinbase wallets. Previously, if assets not supported by Coinbase were sent to its user addresses, a message would indicate that the assets had been successfully delivered on-chain, but in reality, they did not reach the recipient's wallet. Typically, these assets were unrecoverable, but now these ERC-20 tokens can be recovered and returned to the users who sent them by mistake.

It is reported that this feature will be rolled out in the coming weeks, but it will not be available for users in Japan or Coinbase Prime users. Coinbase stated that there will be no recovery fee for amounts under $100, but for transactions exceeding $100, a 5% fee will be charged in addition to the separate network fees. (Source link)