Why Did My Hata Cross-Platform or Internal Transfer Fail

Your cross-platform transfer or internal transfer may have failed due to various reasons. Below are different scenarios that could have resulted in an unsuccessful transaction.

Before determining why your cross-platform transfer may have failed, it is important to understand what exactly cross-platform transfers and internal transfers are as they are unique features of Hata.

Cross-Platform Transfers:
A user can utilise two platforms on Hata, ‘Hata Global’ and ‘Hata Malaysia’ where users are allowed to perform transactions using USD and MYR respectively. The former is regulated by the Labuan Financial Services Authority and the latter by the Securities Commission of Malaysia. Performing a cross-platform transfer means that the user is transferring cryptocurrencies to their own account across Hata’s two platforms.

Internal Transfers:
A user can also perform internal transfers within the Hata application. This is the ability to perform crypto send or receive transactions by using a Hata User ID or an email address registered with Hata. Using internal transfers, a Hata user can easily send crypto to another Hata user without the need for an external wallet.

Reasons why your cross-platform or internal transfer might have failed:
 1. User initiates a transfer from (Hata Global to Hata Malaysia) OR (Hata Malaysia to Hata Global): 

• Situation: 

One of the users (sender or receiver) does not have an account created on either Hata Global or Hata Malaysia OR the wrong platform is selected.

• Solution: 

Please ensure that you (sender) and the recipient (receiver) have valid accounts created in the specific platform that is intended for making the transfer. Also ensure that the correct Hata platform is selected before performing the cross-platform transfer.

2. User has created accounts in both Hata Global and Hata Malaysia but the transaction from (Hata Global to Hata Malaysia) is still failing.

• Situation: 

Due to regulatory restrictions within the country, Hata Malaysia might not support the specific tokens that are being transferred by the user.

• Solution:

Please wait patiently for Hata to undergo its rigorous internal processes alongside acquiring approval from the Securities Commission of Malaysia to list specific tokens on Hata Malaysia. This is to ensure that the token is fully compliant with the regulatory guidelines of Malaysia and is allowed to be traded on the Hata Malaysia platform. In the meantime, you may still continue to safely trade the token on Hata Global.

3. User initiates an internal transfer using the recipient’s Hata User ID or email, but the transfer fails.

• Situation: 

The recipient of the transfer does not have an existing Hata User ID or email OR the entered User ID or email by the sender is invalid.

• Solution:

Please ensure that the recipient of your transfer has an existing Hata User ID or registered email with Hata. Please check with the recipient to confirm that their Hata User ID or email entered is correct with no misspellings or errors. 

Note:

Many tokens are currently supported on Hata Malaysia and the Hata team continues to strive to get as many tokens as possible to be listed so that Malaysian users can enjoy investing and trading more types of cryptocurrencies. For the full list of supported and unsupported tokens of both Hata Global and Hata Malaysia, please visit our website, hata.io, choose the correct platform (Global or Malaysia) that you need more details about, and click on Market.

If your problem still persists or is not mentioned above, please reach out to our team by submitting a ticket by navigating to [Help Centre] under the Explore section on our www.hata.io website.