Now you can undo any Bitcoin, Ethereum, crypto transaction sent to a wrong wallet address
As you all know it is impossible to undo a Bitcoin, Ethereum, crypto transaction if it sent to a wrong wallet address. There are complaints about this issue from users all over the globe, but there was no solution yet. However, this Israeli Blockchain startup claims it’s invented an ‘Undo’ button for BTC Transactions.
Kirobo, a two-year-old Israeli blockchain startup, announced on Tuesday that it has found a solution related to human error in cryptocurrency transactions. Kirobo has developed a blockchain solution designed to prevent the loss of crypto assets, regardless of the cause.
Many companies control a significant amount of crypto without any reliable means of protection. Kirobo’s smart rules technology helps businesses prevent embezzlement and mismanagement of these crypto funds. For individuals, Kirobo’s innovative blockchain platform serves as a safety net, protecting customers’ digital assets from loss of wallet access, theft, or death of the holder. In addition, the company’s SmartWallet technology allows users to set their own rules regarding asset holdings and distribution.
Kirobo is proud to announce that our Bitcoin Retrievable Transfer is available on Bitcoin Testnet. Retrievable Transfer protects users from sending their cryptocurrency to the wrong hands, whether by mistake or due to malicious activity. We do it by adding a new security layer that we call the third step of verification. Retrievable Transfer works in 2 levels: A transaction code must be entered by the recipient in order to receive the transfer. The sender receives funds retrieval capability that is available until the correct code is provided by the recipient.
Said the startup in its blog
The platform has reportedly been audited by the cyber intelligence company Scorpiones Group and is supported by the Israel Innovation Authority. Kirobo said the Retrievable Transfer feature is now available on the Ledger crypto wallet for Bitcoin (BTC) transactions, and will purportedly remain free for transaction amounts up to $1,000.
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