Guide: Coin recovery contraption – TREZOR Blog
For cryptocurrencies to be more user-friendly, they should be lightly distinguishable from each other from the very very first look. Since there are no physical bills, this is made slightly difficult, but it is not unlikely. After all, there are different wallets for different currencies, different tickers or labels, but most importantly, different address formats. Ter fact, distinctive addresses are the last thing that keep you from sending your coins to the wrong wallet. Unluckily, spil wij have lately witnessed, this protection has failed with Litecoin’s P2SH addresses and with the Bitcoin Metselspecie hard fork. Spil a consequence, many transactions were sent to wrong addresses, into incorrect accounts and wallets.
While wij cannot solve the address problem of cryptocurrencies, wij have developed a implement for TREZOR users, which, te most cases, can samenvatting coins sent to wrong addresses. The coin recovery contraption can be found here.
Most common combinations
The contraption is relatively straightforward to use, but still, let’s go overheen the most common cases.
Litecoins sent to a bitcoin, 3-address (P2SH)
With the activation of SegWit on the Bitcoin network, wij introduced fresh accounts te TREZOR Wallet, making fresh Bitcoin P2SH addresses available to all TREZOR users. However, there wasgoed a negative side effect. Spil many Litecoin services only accept transactions to a 3-address, this step has inadvertently led to some users sending litecoins to 3-addresses generated ter the Bitcoin wallet, instead of the M-addresses te the Litecoin wallet.
Please use the option “I have accidentally sent litecoin to a bitcoin, 3-address te my TREZOR.”
Bitcoin specie sent to a bitcoin, 1-address
This is another common case, which can be reverted by using the initial coin splitting instrument, or the fresh coin recovery instrument.
Please use the option “I have accidentally sent bitcoin metselspecie to a bitcoin, 1-address ter my TREZOR.”
Bitcoin contant sent to a bitcoin, 3-address
Unluckily, this option is not available ter the recovery implement, spil SegWit is not activated on the Bitcoin Metselspecie network. Spil a consequence, there is no safe way how to recover your bitcoin specie sent to a P2SH address. This applies to bitcoin specie sent to litecoin Trio/M-addresses too.
Bitcoin sent to a bitcoin specie, 1-address
Please use the option “I have accidentally sent bitcoin to a bitcoin specie, 1-address te my TREZOR.”
Imported fresh XPUB into Mycelium which then generated wrong receiving 1-address for Bitcoin.
If you imported your fresh XPUB (with P2SH/SegWit support) into a third-party wallet, like Mycelium, which does not support the fresh accounts yet, then you might have noticed that it incorrectly generates 1-addresses instead of the valid 3-addresses. Bitcoins sent to thesis 1-addresses are not shown ter TREZOR Wallet. To samenvatting your bitcoins, please use the recovery implement.
Select the option “I have accidentally sent bitcoin to a bitcoin, wrongly generated 1-address (XPUB) ter my TREZOR.”
A big thanks goes to our development team, which has worked tirelessly to code this device for you. The source code can be found te our GitHub repository, specifically here (TREZOR Connect code is here). The running code is available here.
TREZOR is the most trusted and ubiquitous hardware wallet te the world. It offers an unmatched security for cryptocurrencies, password management, 2nd Factor, while maintaining an absolute ease-of-use, whether you are a security experienced or a brand fresh user.