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On https://theethereum.wiki/w/index.php/ERC20_Token_Standard there is a function which goes as follows: -


// Owner can transfer out any accidentally sent ERC20 tokens


function transferAnyERC20Token(address tokenAddress, uint tokens) public onlyOwner returns (bool success) {
       return ERC20Interface(tokenAddress).transfer(owner, tokens); 
}

My reading that if this is called then the owner will receive the ERC20 tokens in the contract address - is this correct?

1

Yes. This addresses the human error where token holders accidentally send their tokens to the contract address itself.

ERC-20 tokens do not have a mechanism for the smart contracts to reject the transfer. Thus, tokens are permanently lost if smart contracts do not have measures to recover tokens send on them.

  • In any case where a more decentralized countermeasure is desired, I think an ERC should be proposed to give the errant sender control over the refund request. – GViz May 28 '18 at 7:12

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