Coinbase to Introduce Asset Recovery for Unsupported Blockchains: BNB Chain and Polygon Included

Coinbase to Introduce Asset Recovery for Unsupported Blockchains: BNB Chain and Polygon Included

The new Coinbase initiative will allow users to initiate the recovery process by providing their transaction ID and the inbound Coinbase wallet address.
The introduction of Coinbase’s asset recovery tool highlights the ongoing challenges faced by cryptocurrency exchanges and users in retrieving lost assets.
In a major development, crypto exchange Coinbase announced that it will soon allow users to recover lost assets even for its unsupported blockchains such as Polygon or the BNB chain. As per the announcement on February 27, users who transferred assets to Coinbase accounts on the BNB Chain or Polygon network would only need to provide their transaction ID and the inbound Coinbase wallet address to initiate the recovery process for their assets.
For assets valued below $100, Coinbase does not impose any fees for recovery endeavors. However, reclaiming lost cryptocurrency exceeding that threshold will be subject to a 5% commission. The exchange added:
“Historically, these assets ha

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