SafeCoin Loss Protection

Will there be protections in place to deal with potential loss of Safecoin’s on the SafeXchange (hope I got that name right), say in the event of a technical glitch while doing a trade and your safecoin’s vanish into the abyss. Also for loss of SafeCoin due to theft from hacking.

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Im sure that for thorough testing with personal coins before saying or showing for others to use the safexchange application. Additionally, we could share good practices for preventing from getting hacked, such as not sharing your password with other people, though Im not sure it would be possible to protect your account by repaying coins because someone has been hacked and then the safex being used to send away your coins.

I’m sure if this happens, the team will fix it very quickly.

I’m also pretty sure it won’t happen because they always test everything rigorously before releasing

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Perhaps if the coins could be tracked individually, stolen coins could be identified and then returned. As opposed to repayed from the Exchange, which likely wouldn’t be feasable

First this isn’t possible due to the anonymous nature of coin transfer. Even if it were, it is a really bad idea. Its been discussed many times with bitcoin (where its “kind of” possible under a few conditions) and it can never end well.


Yeah, what he said^

And also just be careful while you’re doing it.

Don’t send all at once.

Maybe send one coin at a time while you’re making sure everything is going the way you want it to, and then do larger amounts once you’ve got a handle on it

Each transaction generates a receipt. I would suggest keeping all of them and downloading to an offline location if concerned.

While only the sender and receiver can see these receipts, it is a good proof of transfer. If there was a catastrophic data corruption issue, these could be used to cryptographically confirm who owned what, in what sequence.

I suspect receipts will be stored on your safe net account automatically too, unless you delete them.