Loss of transaction from Matic Mainnet to Coinbase

I made a transaction for 498 USDC from my Matic Mainnet to my Coinbase account on July 22nd through my Metamask wallet. That amount never showed up in my account in Coinbase. Coinbase support told me they do not support Matic Mainnet and I need to contact Maitc. I need this transaction to be reversed and need to get my 498 USDC back to my Matic Mainnet.

@shubhangi This also happened to me too but I sent MATIC instead of USDC I also need this transaction to be reversed, I have all of the relevant info needed please feel free to email me at nasseranoah@gmail.com was well. Thank you for your time

I dropped a ticket with all of the information, but i was not able to login in, or create an account either.

Hello @NoahC317 @sujan2003

Thanks for reaching to Polygon Forums.

Customer service may take some time to respond due to a large number of requests. We believe your case will be resolved as soon as possible. Kindly visit the Matic support live chat website

Ya, not resolved. When they got back to me all they said was “If you have access to the wallet you can retrieve those funds.” Ya thats pretty obvious. I wouldn’t be asking for technical support if I was able to access the wallet. The transaction was sent to an address that is of my wallet for coin base but is not accessible because Coinbase does not support polygon network for transactions. So i don’t know why this transaction even went through in the first place. but that wallet has no activity other than that transaction made. I know there is more ya’ll can do than tell me to simply access a wallet that shouldn’t exists…

Yes I have the same exact question as well. If Coinbase does not support Matic. then why did the transaction go through and said completed. And I am not talking about $10, $20 or even $50. I am talking about $500 transaction here. You need to fix this and reverse it back to my MetaMask wallet.

thanks,
Sal Ahmed

Hello @NoahC317 @sujan2003
Kindly chat with any of our Dev Representatives on the Matic support live chat website

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@NoahC317 @sujan2003

Your transaction was larger than the one in the link. And I don’t know why MATIC is posting links for you guys to go to their developer forums?!? Check out the write-up linked below. Bit also, you guys REALLY need to be contacting Coinbase. The MATIC network runs purely off of code, there is nothing MATIC would be able to do. However, if Coinbase used a wallet that can be imported into Metamask, they are able to access those funds… If not, they are lost… Just follow the link. Sorry about your loss.

Same issue here - transferred my Matic from Binance to coinbase using the Matic network (as it was the cheapest) and now not showing up on coinbase.

I assume this is a similar issue as above? That the coinbase doesn’t have a bridge between its network and Matic’s? I’ve contacted coinbase so will see what they say, but hopefully if they ‘build the bridge’ in the future, I’ll be able to access tokens again :slight_smile:

wish me luck, 1,122 tokens in the ether

Coinbase doesn’t create bridges necessarily. The issue with sending assets using Polygon Network (MATIC Network) is that MANY exchanges/users are not currently set up to use the network. When you click on “Deposit” within Coinbase Pro (or CB App, maybe, not sure) they display a message before you see the address that explains EXACTLY what asset is supported and the network that is supported (ERC20 is Ethereum).

This is a link to Coinbase’s help with Polygon Network (MATIC) transactions… However, I will say it again, IF IT IS POSSIBLE FOR COINBASE TO IMPORT THE RECEIVING ADDRESS (into MetaMask), THEN THEY ARE ABLE TO ACCESS THOSE FUNDS. But, being “able to” and actually doing are 2 different things, especially with Coinbase.

You may have a fighting chance of getting credited the funds due to typos within Coinbase’s help page on Polygon(MATIC), linked above. The wording beside the exclamation point is not worded in the best way to protect themselves from users sending funds via Polygon Network.

“Coinbase supports Polygon (MATIC) transactions via the Ethereum network. Sending transactions via Polygon (MATIC) main-net will result in the loss of funds.”
I think when they say “…supports Polygon (MATIC) transactions…”, they really should have worded it to where it says “…supports Polygon (MATIC) ERC20 token transactions…”

I wonder how many people have sent ST20 tokens via Polygon Network to Coinbase. They may have a class-action or another type of lawsuit on their hands. They are pretty clear on the deposit screen message when they say “Only send ERC-20 Polygon (MATIC) tokens to this address.
Sending any other version of MATIC or other assets to this address will result in permanent loss.”, but the wording in their help articles is sketch. I’m thinking if enough people contact CB about this issue, like millions of dollars worth of “lost” assets involving the Polygon Network, then they may have no choice but to repay what was lost, but it’ll probably be paid out in USD or USDC & at a date when the MATIC price is low. They probably would pay up millions of USD just to avoid the potential of a major lawsuit. You know what happens to stock prices when the company is in a lawsuit battle, right? LOL!

You may want to contact legal council and give them details. If a lawyer would like to follow on the lead, it is their job to find out the totality of the users affected and all that crap. Just call one up and ask, the call should be free.

Hi CyrptoCraig,

Thanks so much for the info and your time explaining the processes. I am slowly beginning to understand. I have emailed Coinbase again with my renewed info and contacted them via twitter so hopefully they get back. And thanks for the legal tips, that may well come in handy!

Thanks,

James

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