TechFlow news: Coinbase has upgraded its ERC-20 asset recovery tool to support asset recovery on the BNB Smart Chain and Polygon networks.
This industry-first solution aims to simplify the recovery process, allowing customers to easily and securely retrieve nearly 3,000 unsupported ERC-20 tokens. By simply providing the transaction ID and receiving address of the lost assets, users can transfer their assets to a Coinbase wallet or compatible self-custody wallet in just a few simple steps.
The recovery tool can directly transfer unsupported assets from a Coinbase address to a self-custody wallet without exposing private keys at any point during the process. Additionally, a small recovery fee (5%) is charged for recoveries valued over $100. However, this feature is currently not available for Coinbase Prime.
