GOPAX "Deposit Information Verification": What to Do When a Withdrawal From an Overseas Exchange Is Stuck Pending
2 min read · · Korean original
Contents 2
Hello, this is Bitpunk. I recently deposited bitcoin from an overseas exchange to join an event on GOPAX. It didn't go through on the first try, and there wasn't much information in the community, so I struggled a bit. In the end, though, I got it sorted out.
Let me share my experience and how I solved it. First, the amount I requested to deposit was over KRW 1,000,000. After completing the withdrawal from OKX, one of the overseas exchanges, I received a "Deposit Information Verification" request from GOPAX, as shown below.
What Is a Deposit Information Verification Request?
Deposit information verification means proving that you own the wallet and that you made the transaction yourself when assets are deposited to GOPAX from an external exchange or wallet. Normally, exchanges are connected to each other through the Travel Rule.
OKX also shares account information with domestic and overseas exchanges under the OKX Travel Rule policy. So usually, the deposit gets processed if you just wait.
Unlike Bithumb or Upbit, though, GOPAX seemed to require you to submit that information yourself one more time. First, I confirmed that the withdrawal from OKX was complete, and when I checked my deposit/withdrawal history on GOPAX, it showed a "Pending" status.
My Experience Completing the Deposit on GOPAX
To get the asset deposited, I had to select the withdrawal platform and enter an address once more. For the withdrawal platform, I chose OKX, where I had sent the coins from.
What confused me here was that the bitcoin had been withdrawn from OKX's hot wallet, so I wasn't sure whether entering my own bitcoin address here would mean anything.
In the end, I entered and submitted the bitcoin address of my own account on OKX, and the bitcoin deposit was completed successfully.
Looking into how it works, that address isn't used to verify the transaction, but to verify the owner information linked to the address.
To sum up, just enter your own deposit address for the coin you withdrew (on the exchange you sent it from) in the "Deposit Information Verification" request field. In my case, the bitcoin was successfully credited to my account about 10 minutes after I submitted the information.
