Whenever there is an ERC20 token transfer might have fail error the amount/token the sender sent does not leave the sender address but “Gas Fee” is being deducted.
The main reason are on the contract & token failure nature. Below are the most common reasons an ERC-20 token transfer might have failed are:
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 transfering token before sending token to another address
Token contract does not emit a Transfer event even though the balance is actually deducted (Not compatible fully ERC-20 Compliant)
The token contract of a specific token does not provide a valid transfer events log thus causing the transaction to fail.
This issue is due to the compliance policy toward ERC20 tokens.
For additional assistance, please contact the sender/transaction creator directly for more information.