WSOL (Wrapped Sol) Transfer Issue (Help)

Hello there;

24 hours ago I converted my USDC balance to SOLANA via Mercurial Finance. After the transaction, 27.44 SOLs came to my balance.

I sent this amount to Gate.IO exchange via Solana blockchain network. However, the balance was not credited to my account for 24 hours. Thereupon, I had a meeting with Gate officials. They stated that they cannot withdraw/return the coin as it is a coin named Wrapped Solana and is not listed on the exchange.

I do not hesitate to use Solana platforms in all my transactions. I believe in the freedom Solana brings. However, in this case, I was a victim. I would like Solana support to contact Gate or for the WSOL token to be sent back to my Solana wallet with the cancellation of the transmission showing as successful in Solscan.

I need someone who can help with this. Thank you very much in advance.

Hi @gizdusums and welcome to the forum. :wave:

Unfortunately, because Solana is fully permissionless, there is nobody, not even the Solana foundation members who can cancel your transaction, and the only way to get your tokens back would be for Gate to cooperate and send the tokens back, but I’m almost positive that they Gate isn’t going to help you, because the actions required are just too far outside of their internal processes and workflows. There’s too much internal red tape and security measures.

I’m almost certain your tokens are lost. I’m so sorry!


If you want, to, though, you can bring the issue up on Discord and see if anybody else has any thoughts or ideas. Just very careful of scams on Discord. Never give anybody your seed phrase or private key:

Are you absolutely sure about that?

The exchange said it would be refunded if WSOL was listed in its response.

I see the balance at my Solana address so it stays there but not in my currency account.

Can we say absolutely lost? Surely there must be a way.

I’m 99.9999% sure that the exchange is the only one that can give you money back.

Yes, that should work. If they listed the token on their exchange then they most likely could give it back to you, especially if that’s what they said.

It’s not that its lost exactly, it’s just that it is now sitting inside the exchange’s wallet. I’m not sure exactly what Gate.io’s internal protocols are, but the way Binance, for instance seemed to do it, from what I’ve seen, is that they give you a Binance wallet address, then every time you send money to it, they automatically transfer any supported tokens out of that wallet address and into a massive Binance wallet. During that process, they credit the tokens you sent to your account.

The issue in this case is that they don’t recognize the token you sent to your wallet, so their automated system can’t credit it to your Gate.io account.

For security, my guess is ( this is just a guess at how they might manage it ), there’s not a direct way for Gate.io operators to get to the private key for your wallet. The only thing that should ever interact with your Gate.io wallet is the automated system. Which means it could ( maybe ) be very difficult for Gate.io support to arrange for somebody to get access to your Gate.io wallet private key, hook it up with a Solana wallet such as Sollet, and then send you your tokens back.

So the tokens aren’t really gone or anything, it’s just that Gate.io has to do whatever administrative tricks necessary to actually get to it.

If they end up listing wSOL on the exchange, though, it will probably just detect your new tokens automatically and everything will be fine.

First of all, thank you very much. Thank you for understanding the subject very well and for illuminating the solutions very well.

Gateio officials are really trying to solve this problem. We have correspondence every day. I gave them the link of this page, I hope what you wrote as additional information will contribute to the solution of the problem.

With endless respect…

1 Like

Hello,

This exact same situation happened to me…was gate.io able to solve your issue?

The reason I made this mistake was because phantom wallet displayed my tokens as sol even though they were wsol.

Hi,

Unfortunately Gate.io did not solve my problem. I even went to their manager on LinkedIn and explained my situation. However, they are trying not to fix the problem.

Meanwhile, Binance is also producing a solution to the same problem. The same thing happened to a friend of mine, but Binance fixed it by creating a personalized refund address.

There are a few improvements with Wrapped Sol. I see it listed on Coinecko and CMC. I ask Solana authorities to discuss this matter with central exchanges (especially Gate.io), I know this is not your concern. But if they list this token, the problem will be solved, we can’t raise public enough and they won’t hear us.

This is just a request as a Solana lover.

@zicklag @solana

Unfortunately I’m not actually associated with the Solana Foundation. I don’t know how to contact them other than through their Email address maybe listed on the Solana community page.

I won’t really have any more power than anybody else.