📝 Missing Memo Issue

Why some central exchanges require a memo, and what to do if you forget to add one

Written by Keplr Agent

Updated 1 year ago

We've all been there - made a transaction, expecting to see funds on the other side, only to be disappointed when it goes missing. This guide will explain the missing memo issue and how to resolve it.

Keplr to Central Exchange = ✅ Check for Memo

Central Exchange to Keplr = ❌ No need for Memo

Many central exchanges require a unique tag number to be included in the memo field when sending a transaction from your wallet. There's a reason for this.

Since central exchanges have large numbers of accounts, rather than assigning one wallet address for each account, accounts will be assigned the same wallet address, and memos (destination tags or tag numbers) are assigned and used to identify individual accounts. This means that if you send a transaction to a central exchange without the memo, you are essentially sending your funds into a mass pool of assets with no clear destination to credit them.

Deposit notice from Binance

Unfortunately, once a user has sent a transaction without the memo and the transaction is on chain, the Keplr team is unable to recover it. Since the funds have been sent to an address belonging to the exchange, only the exchange can take any action to offer support.

The good news is, since missing memos seems to be a common issue, exchanges have been helpful to retrieve missing funds.

How/When to Add the Memo

1. The exchange will specify if you need a memo when you try to make a deposit. It will show up near the deposit address and is a short string of numbers.

Memo example from Binance

2. Copy and paste the memo number into the memo field in Keplr wallet.

3. After you've sent your transaction, if you check a block explorer, you will see the memo recorded to confirm that it was entered.

⚠️ Never put your seed phrase or other confidential information in your memo field - the information will be publically visible, on chain, forever.

If You Forgot the Memo

1. In the case of a missing memo, you should prepare your account number and transaction hash (TxID) that you can find using a block explorer. (At this time, Keplr wallet does not store transaction history/TxIDs.)

Here are some recommendations:

Cosmos block explorer: Mintscan
Terra block explorer: Terra Finder

2. Then you'll need to contact the exchange using one of their official channels to apply for memo recovery. For example, here is Binance's support page for missing memo: Missing memo - Binance.

3. Then follow the exchange's directions to retrieve your funds.

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