Coinbase Expands Asset Recovery Tool to Support Solana-Based Tokens

Coinbase has announced the expansion of its self-service asset recovery tool to now support certain tokens on the Solana (SPL) network

Coinbase has expanded its self-service asset recovery tool to support certain tokens on the Solana (SPL) network, the company announced on April 21.

This move builds on the platform’s effort to help users recover unsupported or misrouted tokens without the need to contact customer service.

The recovery feature, originally launched in December 2022, was designed to help users reclaim ERC-20 tokens on the Ethereum network that were accidentally sent to Coinbase wallet addresses. In February 2024, Coinbase extended the tool to include BNB Chain and Polygon tokens.

Solana Now Included, But With Limitations

With the latest update, Coinbase users can recover eligible Solana Program Library (SPL) tokens that were mistakenly transferred to Coinbase wallets. However, the company cautioned that not all SPL tokens are eligible and urged users to check asset compatibility before beginning a recovery attempt.

“Recovered assets have not gone through our full listing review,” Coinbase said, adding that users should evaluate each asset’s authenticity and security independently.

Recovery Conditions and Fees

The tool enables users to recover funds that would previously be considered irretrievable, as Coinbase staff lack access to the private keys needed to reverse transactions manually.

To use the recovery feature successfully: