XRP Fans React to Coinbase Saying XRP Is “Permanently Lost”

cryptocurrency

XRP (XRP) was recently added to the professional trading platform of Coinbase. The addition of XRP to Coinbase Pro was announced by the exchange not long ago. The listing of XRP on Coinbase Pro got the entire XRP community excited. This is because the addition of a digital currency to such a prominent trading platform could significantly enhance the value of the coin.

Users Encounter Error While Sending XRP on Coinbase

Nevertheless, the excitement of the entire community did not last long. This is because Coinbase told the XRP users that their digital currency was permanently lost. This swept the happiness of the XRP community under the carpet. When users tried sending the digital currency to other users after it was added to Coinbase, their coins were reported to be lost.

An error occurred at the end of the Toast Wallet as users weren’t provided with the option of destination tag input. This resulted in the loss of their XRP (XRP) tokens. This loss was as a result of the inability of Coinbase to recover the tokens. As such, they tagged them “permanently lost.”

The destination tag helps trading platforms to ensure that the tokens were sent to the right user. In this case, the customers received an email that their tokens were lost. The email reads:

Because you used a wrong destination tag when sending XRP (XRP), Coinbase is not able to recover your digital currency as it is permanently lost.

When sending XRP (XRP) to a trading platform, it is extremely crucial for a user to add the appropriate destination tag. Nevertheless, as a result of human error, users usually enter the wrong number. In cases like this, most trading platforms manually send the tokens to the customer. But it appears Coinbase didn’t deem it necessary to follow this procedure.

XRP Community Calls Out on Coinbase for Failing to Fix the Issue

The XRP community is not happy about this development. In fact, it has caused an uproar in the entire community. XRP fans are now calling out on the trading platform for not being able to fix the issue. Some prominent members of the community wrote to Coinbase. The developer of xrptipobot – Wietse Wind – is also among them. He wrote to the trading platform saying:

Now I am getting frustrated, @coinbase. This is simply not true. Coinbase is not able to recover XRP tokens and they said it is lost permanently. The XRP is not lost definitely. It is in your hot wallet. And you are not ‘not able’ to recover it. You just don’t want to recover it. This is misleading.”

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.307177
-0.84%

A debate is currently going on in the digital currency space regarding the problem and unwillingness of Coinbase to resolve it. Matt Hamilton said that based on what he knows, this might be a UX (user experience) issue. He said the wallet being used might have a UX problem that caused the users to omit the tag mistakenly.

Nevertheless, he was countered by Wind. Wind said that this is not a technical issue. Adding that he has experienced such an issue with TipBot before. This has resulted in the switching of trading platforms by users. Many users are now moving to more efficient trading platforms. Some of the platform users are now moving to include Bitrue and Binance.

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