1.0 Introduction
When transferring your EOS tokens from a hardware or software wallet to an exchange, it's crucial to exercise caution. Many exchanges have their own designated EOS accounts for deposits. However, it's essential to be aware of homonymic accounts, which resemble legitimate exchange accounts. These homonymic accounts have similar names or addresses to the real exchange accounts, which can be misleading and result in mistaken asset transfers. Therefore, it's essential to thoroughly verify the authenticity of the recipient account before making any transfers to avoid potential losses or complications. Often, hackers use homonymic accounts to steal funds.
2.0 Exchanges, Legitimate Accounts, and homonymic accounts
The following table displays notable exchanges worldwide, their verified accounts, and accounts with similar names. Please note that the list of accounts with similar names is not exhaustive, as other accounts may resemble legitimate exchange accounts.
Exchange | Legitimate Account | Homonymic Accounts |
binanceclaos binanceclbos binanceclcos binancecldos binanceclzos binancecl1os binancecl2os binancecl3os binanceclbin binanceclaim | ||
bitfinexdep2 bitfinexdep5 bitfinexdepa bitfinexdepz bitfinex.com bitfinex.eos bitfinex.net bitfinex.mlt | ||
gateiowa11et gateiowa1let gateiowaalet gateiowaflet gateiowazlet | ||
krakenkra1en krakenkra5en krakenkracen krakunkraken krakenkraaen krukenkraken | ||
kucoindot1os kucoindot5os kucoindotaos kucoindotdos kucoindotzos qucoindoteos kucoin1oteos kucoinboteos | ||
mexcedeposit mxcexdepoait mxcexdepocit mxcexdepoiit mxcexdefosit mxcdepositex | ||
naxoeoschain nexoboschain nexodoschain nexoeosahain nexoeoszhain nexoeos1hain nexoeos5hain |
3.0 Best Practice when Transferring EOS to an Exchange
To ensure a secure transfer of EOS from your wallet to an exchange, obtaining the deposit address and memo from the exchange is essential. Avoid relying on memory or saved data from elsewhere. The accompanying image displays the deposit address and memo for depositing EOS to Binance exchange for a specific Binance user. It's important to note that each user may have a unique memo. The recommended approach is to copy the deposit address and memo from the exchange and paste them directly into your wallet for enhanced security. Meticulously read the displayed message before transferring your assets.
Screenshot by: Sukanta Manna
Notes:
i) Name of the coin - EOS
ii) Selected Network - EOS
iii) Deposit Address - binancecleos
iv) Memo - ************ (Unique to your account)
v) Important message from the Exchange.
4.0 Risks Associated with Mistaking a Homonymic Account for a Legitimate Exchange Account
If you mistakenly transfer your EOS to a homonymic account, it may be difficult or impossible to recover them. Always verify the recipient's account information and exercise caution when transferring assets. If you are a victim of a major hacking incident, you may seek help from Recover+.
5.0 Conclusion
Exercising due diligence is the most effective measure to safeguard your assets against unauthorized transactions. When transferring assets to an exchange, obtaining the deposit address directly from the exchange itself is crucial rather than relying on memory or saved notes. It's also important to be aware of homonymic accounts, often exploited by hackers for scamming purposes. Stay vigilant and verify the authenticity of accounts to ensure the security of your assets.
Author: Sukanta Manna
Editor: Markus Hinrichs, Randall Roland
Sources & References: