Israeli Firm Develops Tech Allowing Crypto Users to Retrieve Funds Sent in Error

Israeli Firm Develops Tech Allowing Crypto Users to Retrieve Funds Sent in Error

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Blockchain startup Kirobo says its technology can prevent the loss of cryptocurrency caused by human error when sending what are normally irreversible transactions between wallets.

The firm’s Retrievable Transfer feature works by building a new layer onto existing blockchain protocols. Users then have the ability to “cancel” a transaction sent to an incorrect cryptocurrency wallet address, the Israeli company said in a press release Tuesday.

“Our aim is to make blockchain transactions as simple and as secure as online banking,” said Kirobo CEO Asaf Naim.

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