Whenever there is an ERC-20 token transfer might have failed error, the amount/token the sender sent does not leave the sender address but the “Gas Fee” is deducted.
The main reasons are on the contract & token failure nature. Below are the most common reasons why an ERC-20 token transfer might have failed:
- The Token contract is locked or paused (tokens are not transferable yet).The variables include: minting, mintingFinished, paused, transferable, transferableStartTime, paused, locked
- The sending From address has an insufficient token balance. Please ensure that the sending address has enough balance of the transferring token before sending token to another address
- Token contract does not emit a Transfer event even though the balance is actually deducted (Not fully ERC-20 Compliant). The token contract of a specific token does not provide a valid transfer event log thus causing the transaction to fail. This issue is due to the compliance policy toward ERC-20 tokens.
For additional assistance, please contact the sender/transaction creator directly for more information.