Co-founder He Yi said the exchange has assisted users in retrieving funds sent in error, underscoring how hard blockchain transactions can be to reverse once executed.
Binance has helped users recover more than $8 billion in mistaken crypto transfers since 2021, co-founder He Yi said in a social media post on July 15. The disclosure highlights a persistent risk in digital-asset markets: transfers sent to the wrong address or through the wrong network can be difficult to reverse because blockchain transactions are typically final once confirmed.