Buy crypto anonymously on the Incognito pDEX   

List of Exchanges Blocking Smart Contracts

#1

I looked here on the forums to see if there is a list of exchanges that are currently blocking the use of deposits to their exchange that come through the use of an ERC-20 smart contract, but found none. So I thought it might be useful to create this list since this is how Incognito facilitates this transfer when unshielding something like ETH/DAI/BAT/LINK/etc… This will allow people to know ahead of time to either avoid the use of that exchange, or if necessary to use it to go through a second exchange first that is supported. Do you think this will be useful? Or is there a better way to do this… The challenge is that exchanges don’t seem to do a very good job of listing what they support and don’t support in this aspect.

Here’s the list that I will try to keep updated based on what I find, and what community members post in this thread:

7 Likes
#2

For a bit of context on what prompted this post. I made a deposit to Bilaxy, and the funds never showed up on my balance, but I could confirm that they were confirmed on chain to the address that Bilaxy had assigned to my account. So I contacted support. Eventually they told me the root cause was that “I should not deposit like that anymore”. So I dug deeper, what does “deposit like that mean?”. They say that they do not support deposits that come from a smart contract to their system “due to security reasons”. Basically they want to CYA if potential privacy crippling regulations get implemented. They were kind enough to tell me that I could just go to Binance/Gate/Kucoin/Okex, Huobi, Bitmax… first and then transfer from there to Bilaxy :man_facepalming:

To help the community, I was thinking it might be useful to maintain a list of exchanges that are known to not support deposits from Incognito. Thoughts?

In terms of dealing with exchanges that do have these restrictions if absolutely necessary, you could go through another exchange first that doesn’t have such restrictions. Alternatively, are there other currencies that wouldn’t be detectable as coming from a smart contract, based on how they are implemented in Incognito? E.g. Would XMR or BTC be caught by a flag like this? I probably should know how the privacy for those are implemented… but only so much time in the day…

2 Likes
#3

I can confirm these two:

https://www.biki.cc : This fixed the issue without requesting fees.
https://www.bitz.ai / https://www.bit-z.com / https://www.bitz.plus/ : This refunded my money 30-45 days later to the sender address and cut 0.2 ETH as fee.

3 Likes
#4

@abduraman, thanks for sharing this. That sounds particularly painful having to wait for 30-45 days to get access to your funds, and then “adding salt to the wound” by charging you for the transfer fee to get it back… Was this an ERC-20 token? Or was it something else?

I am waiting on another exchange, and I expect that they will come back saying that it is due to this, but I haven’t heard back yet. I will update here…

3 Likes
#5

Yes, it was BUSD (Binance USD)

1 Like
#6

Just updated the list. I suspect that there are many more than this based on the fact that 2 of the 3 exchanges that I have used in the past 30 days have had issues receiving funds from smart contracts.

Do people know if sending XMR would cause issues with exchanges that don’t allow deposits from smart contracts? This is probably the way I will go since fees are so low, plus I like supporting XMR. It may be faster for me to just test this out, but if anyone has insight into this please post!

#7

Now I use XMR to withdraw to fiat it is easier and low fees. But on binance I need 2 trades to go back to fiat…

#8

Since XMR (like BTC) does not support the smart contracts yet, there will not be such a problem.