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.
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.
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.
<div class="warning ">Never put your seed phrase or other confidential information in your memo field - the information will be publically visible, on chain, forever. </div>