What happens when an exchange sends your swap back
When an exchange returns your swap, the crypto arrives back at the sending address, minus any network fees that were consumed in the failed attempt. The swap is not completed, and the funds are simply reversed to where they came from.
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Status: waiting for your deposit
You send from your own wallet straight to the exchanger — nothing to connect, no account, and you stay on this page throughout. Rates are indicative until a swap is opened.
The swap is carried out by an independent exchanger and the deposit address above is theirs. michimeme.com never holds, receives or controls your funds, has no key to that address, and earns a referral commission. Opening a swap sends your receiving address, IP, browser and timezone to the exchanger for their compliance checks; we store none of it. Check their terms, fees and country restrictions before sending anything.
This does not happen often, but when it does the reason is usually straightforward. Exchanges have automated systems that check incoming deposits for specific conditions. If an exchange cannot match your incoming transaction to a valid swap order - because the deposit address was wrong, the amount differed from what was agreed, or the token type did not match - it may send the funds back rather than hold them indefinitely.
The return transaction is a separate blockchain operation. The exchange constructs a new transaction from its hot wallet to your original sending address. This means the return is not instant. It depends on the blockchain’s confirmation speed and the exchange’s internal processing queue. Some exchanges process returns within minutes; others take hours or even longer if the failure requires manual review.
You do not need to contact support in most cases. Monitor the sending address you used. When the return appears as a new incoming transaction, the swap is effectively cancelled. You can then attempt the swap again, this time double-checking each detail: the deposit address, the exact amount, and the network.
A key point: network fees are not refunded. When you sent the original deposit, a fee was paid to miners or validators. That fee is gone. The exchange also pays a fee to send the return transaction, but it will not charge you for that - it absorbs the cost as part of its normal operations. You lose only the fee you paid for the initial failed send.
If the exchange does not return your funds automatically, the situation changes. Some exchanges have a timeout period after which they credit the deposit to your swap order anyway, especially if the mismatch was minor. Others hold the funds and require you to open a support ticket to claim them. If you see that your outgoing transaction was confirmed but nothing has come back after 24 - 48 hours, it is time to check the swap site’s support channel.
This scenario underlines why verifying every detail before you hit send matters. If you are unsure whether an address is correct or whether the amount matches, stop and recheck. A few seconds of caution can prevent the whole reversal cycle. For a full walkthrough of the checks that make swaps run smoothly, read the hub page titled Swapping crypto safely. It covers the foundations that reduce the chance of any reversal happening in the first place.
In short: a returned swap means your funds come back, minus your initial network fee, and you try again with correct details. It is not a loss - just a delay and a small fee.
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