Help understanding a lost Coinbase to Bitmart USDC on Optimism transaction

A few days ago I had the unfortunate experience of sending USDC via Optimism network to Bitmart and the transaction never completing or becoming available to me on the deposit address I sent to. Essentially I do not expect to retrieve the funds after a lot of unhelpful back & forth with Bitmart support.

I have screenshots and video showing that I sent out USDC via Optimism network from Coinbase to the corresponding USDC via Optimism network address listed on my Bitmart account.

Sending out:

Deposited to:
(apparently new users can only add one media item to a post, so all I can do here is post the address, and maybe I can add the Bitmart screenshot later, but this is the USDC Optimism deposit address provided by Bitmart exchange to me: 0x69e2991b5fe3959adb8785063037da9b9547b8a5

As you can see the USDC made it to the address Bitmart provided for USDC via the Optimism network, here on the blockchain: Address 0x69e2991b5fe3959adb8785063037da9b9547b8a5 | OP Mainnet

As any user of Coinbase or Bitmart, given the information I have provided above, I would assume this is very straightforward and am unable to see what caused the issue. The only thing I can think of is that either Coinbase or Bitmart could have an issue with one of the contracts they have associated with Optimism, outside of what the user can see before they initiate a transaction.

I am fully open to better understanding this situation if i am missing a key piece of information, I’d just like to better understand what has caused me to lose access completely to $1,000 in USDC on the Optimism network. Thanks in advance for any help.

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Realized I can just post this Bitmart deposit address screenshot in the replies.

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Hey @nakamoto2020,

Sorry for the trouble you are going through.
I am not sure whether this is the right place to ask about the issue, but I do not want this to happen to anybody. I’ll attempt to help you the best I can.

As I can see on Explorer and understand from your post, you have done all the steps correctly.

For USDC specifically, there are two contracts on Optimism.

  1. USD Coin**(USDC)** 0x0b2C639c533813f4Aa9D7837CAf62653d097Ff85
  2. USD Coin**(USDC.e)** 0x7F5c764cBc14f9669B88837ca1490cCa17c31607

Most Centralized Exchanges like Bitmart support USDC.e, so they do not have automation to directly track your asset, transfer it to their central pool and reflect it on your account.

Here is what I would suggest you to do,

Hi (Bitmart representative),

(Intro if not email thread is not live)

The deposit at 0x69E2991B5FE3959aDB8785063037da9B9547B8a5 in USD Coin(USDC) of 1000 was done by me moving my holdings from Coinbase to Bitmart. This USDC token belongs to 0x0b2C639c533813f4Aa9D7837CAf62653d097Ff85 deployed by Circle on Nov-14-2022.

I understand these do not reflect in my Bitmart account holdings as Bitmart might be supporting USD Coin(USDC.e) 0x7F5c764cBc14f9669B88837ca1490cCa17c31607 deployed at Genesis on Optimism and has a large number of holders, also it is widely used.

As the latest contract from Circle(USDC) also has 26,627 holders and few exchanges that allow swapping it for other tokens, I would request support be added for this contract address to avoid similar issues for other customers.

If adding universal support for Bitmart isn’t possible I would request assistance from your team to access the private key of my account and swap it to USDC.e to make it accessible to me on your exchange.

I am sure this technical help from your team will go a long way in winning the trust of our community.

Thank you.

I hope you recover your tokens and the issue gets resolved for everybody at Bitmart. :heart:

Happy trading! :grinning:


I really appreciate your reply @Chain_L and the time you put into helping me better understand what happened. I’ve reached out to the live ticket utilizing your input. Have a great day and hopefully this does lead to a better experience for anyone, if they happen to use this exchange, in the future.

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I ran into the same issue yesterday and googling got me to your post. Did you rissue get resolved with BitMart?



do you still need help with your request ? @mohammedmuscaty @nakamoto2020

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Hey Jeff, after Bitmart support escalated the situation to management, they
came full circle on their answer and decided not to help again. The
response I was given gave me the impression that management did not look
very closely at the issue because it was similar to the replies I was given
before sending the additional information providing them with the solution
to the problem.

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