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Can you cancel or reverse a transaction?
Can you cancel or reverse a transaction?

Cryptocurrency transactions are permanent. When a cryptocurrency transaction is sent, it is impossible to cancel or reverse the transaction.

Updated over a week ago

Everything you need to know about blockchain immutability and why transactions in crypto usually can't be canceled or reversed.

Need a crypto wallet that gives you full control of your assets? You can download Exodus here.


In this article:


Can you cancel or reverse a transaction?

No, once confirmed, transactions in crypto are permanent. They can't be canceled, altered, or reversed.

No one can cancel or reverse transactions once they have been written to the blockchain (confirmed). This includes Exodus, the sender, the receiver, or any other platforms (custodial or self-custodial) involved.

This is because of the way blockchains work. One of the core principles of blockchain technology is immutability.


What does immutability mean?

When something is immutable, it means that it is permanent and unable to be changed. In blockchains, this is accomplished by cryptography and the hashing process.

Once the network receives a transaction, it is timestamped and embedded in a block. Blocks are cryptographically secured by a hashing process that links to and incorporates the hash of the previous block. Blocks take place in chronological order, forming a chain. This is why networks in crypto are also known as blockchains.

Once blocks have been hashed, they include metadata from the previous block, and this chronological linking makes the chain unbreakable. A cryptographic hash can't be reverse-engineered.

Transactions are data that are contained in a block. You can't modify or delete data included in a block because this would break the blockchain. So once a transaction has been confirmed, it cannot be canceled, altered, or reversed.


What are the benefits of immutability?

Some benefits of immutability include:

  • Data integrity: The integrity of the chain can be validated at any time by re-calculating the block hashes

  • Simplified auditing: A complete history, as well as unalterable data, makes auditing easy and efficient

  • Increased efficiency: As well as auditing benefits, immutability provides opportunities in query, analytics, and other business processes. This includes tracking the provenance of major bugs, auditing specific application data, and backing up and restoring database state changes to retrieve information.

  • Proof of fault: Prevents most disputes related to data provenance and integrity (an unchangeable record of what happened at what time)


What happens if you send crypto to the wrong address?

If you send crypto to the wrong address, it might be lost.

Only the owner of the address would be able to access your funds. Since crypto is anonymous or pseudonymous, there is no way to determine who owns a particular address.

If you have sent crypto to the wrong address, compare it to addresses you've sent to previously to see if you can figure out who the owner is.

If you own the address (can access its private key) or if you can contact the owner, it might be possible to recover your crypto.

In some instances, like sending unsupported tokens to your wallet or sending tokens on the wrong network, you can follow a series of steps to recover your funds.

You can always contact Exodus Support at [email protected] for detailed help.


Can you replace and cancel a pending transaction?

Some crypto networks support replacing and canceling pending transactions. For example, with Bitcoin, the feature is referred to as replace-by-fee (RBF).

Exodus does not support replacing pending transactions. However, it is possible to import your Exodus wallet into another wallet that supports it.

For example, with Bitcoin, it's possible to replace an unconfirmed Bitcoin transaction if RBF is enabled.

When you replace a Bitcoin transaction, a new transaction is created with a higher fee than the transaction it replaced. The new transaction then returns the funds to your wallet instead of sending the funds out of your wallet.

Because the new Bitcoin transaction has a higher fee than the transaction it is replacing, it is prioritized by the network, which effectively cancels the old unconfirmed transaction.

For instructions to replace and cancel a pending Bitcoin transaction with Electrum, visit: How do I replace and cancel a pending Bitcoin transaction?

It is also possible to replace and cancel transactions on the Ethereum network. For more on this, visit Etherescan's article: How To “Cancel” Ethereum Pending Transactions?

Please note it is only possible to replace and cancel a transaction if:

  • The transaction is still pending: Once a crypto transaction is confirmed, it is permanent and cannot be replaced or canceled.

  • The network supports it: If the network doesn't support it, it won't be possible to replace and cancel a transaction.

    • Individual networks might have additional requirements. For example, with Bitcoin, it is only possible to replace a transaction if RBF is enabled.

If you have a question about a specific transaction, please contact Exodus Support for help at [email protected].

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