Coinbase launches token asset recovery tool on the Ethereum chain, supporting recovery of more than 4,000 tokens

Coinbase has announced the launch of an asset recovery tool that will help customers recover more than 4,000 ERC-20 tokens on the Ethereum chain sent to the Coinbase ledger. Previously, sending an asset that was not supported by Coinbase to its user address received a message that the asset was successfully delivered on-chain, but did not actually reach the recipient's wallet. Usually, these assets are not recoverable, and now these ERC-20 tokens can be recovered to return to the user who accidentally sent them. The feature will roll out in the next few weeks, but it won't be available for Japan or Coinbase Prime users. Coinbase said there is no clawback fee for amounts below $100, but transactions worth more than $100 will be charged a 5% fee on top of separate network fees.