Ethereum address is not formatted properly
Please read this KB Article fully, especially if you got this warning message while sending out funds from Exodus.
When inputting a receive address or scanning a QR code into the Exodus Ethereum (ETH), Ethereum Classic (ETC), or any Ethereum-based token Send input area you may encounter a message like this:
Warning! The address is not formatted properly. Please double-check each character in the address.
If you send to a wrong address, your funds cannot be recovered!
Why am I seeing this error message?
The Ethereum (ETH) or any other ERC20 asset address you have entered or scanned into the Send field is a bad address. Ignoring this can lead to loss of funds.
What should I do if I get this message?
You must manually verify each character of the address you are sending to. Ignoring even a single character can lead to loss of funds. Exodus cannot recover funds if you send them to the wrong address. Just manually triple-check the address before you hit Send. Or better yet, copy-paste the address from the source instead of using a QR Code.
I am interested in learning the technical details of this sorcery!
Ethereum addresses have a mixture of upper and lower case letters, and they are case sensitive!
For example, here is a valid "receive" address for ETH: 0x507877C2E26f1387432D067D2DaAfa7d0420d90a. If you were to alter one of the letters in the middle, 0x507877C2E26f1387432E067D2DaAfa7d0420d90a ('E067' instead of 'D067'), Exodus will catch this and show you the above warning. The reason is that we internally run what's called a "checksum" on the address itself to verify the internal integrity of the address. Exodus will warn you since it determines that the address is invalid or incorrect.
Another example is 0x507877c2e26f1387432d067d2daafa7d0420d90a (all lower case letters). In the past, this would've technically appeared as the same address and would work, but your funds would go nowhere and be lost.
Exodus now has the ability to not only test the address for the right characters but also to make sure it is "mixed case." This allows you, the user, to be certain the address is being checked for correctness and will prevent you from accidentally sending funds to a malformed address and losing them forever!
We have had a few users lose money by scanning QR codes (from Jaxx and Binance in particular) that are invalid due to bad image quality or no "checksum" on QR codes, so we want to prevent this from happening in our wallet. If you get this message, it is because the address is malformed and should be triple-checked before using. Check with the wallet maker which generated the address and ask them for quality control to ensure their addresses are "checksummed" for the right characters and for a mixed case.
This applies to all ERC-20 tokens such as Aragon (ANT), Golem (GNT), Augur (REP), District0X (DNT), etc.