A crypto seller was outraged after allegedly demanding $ 954,135 from the centralized exchange FTX. The trader claims the fee was raised due to an erroneous deposit that he believes was the fault of the exchange.
On October 6, Rekt Blog posted a screenshot of the correspondence showing that the problem arose when customers deposited approximately USDP 6.3 million, stablecoin tokens, on the DeFi Unit Protocol lending platform in late September.
Unfortunately, Stablecoin Paxos also changed its name to USDP, and the exchange changed its PAX token to USDP in late August, so users appear to have deposited $ 6.3 million in unsupported USDP tokens to the exchange’s address for stablecoin Paxos to have.
This is a customer service notice.
Will please stick to its own terms and conditions?
Dissatisfied Users asked for help after being overcharged ~ $ 954,135.
Is that the way got into it @Forbes? https://t.co/DJ1jnxaBh6
– rect (@RektHQ) October 6, 2021
FTX compensated users for the mistaken deposit by returning approximately $ 5.4 million in stablecoins, but minus a 15% fee. Angry users replied:
“You withdrew over $ 1 million from my first deposit. This is inconsistent with your Wrong Address or String Policy. I did not intentionally deposit USDP into your exchange, I was wrong. I want to appeal. “
Rekt reports that FTX has failed to adhere to its own terms and conditions, which will charge a fee of up to 5% in such cases.
However, when Cointelegraph was reviewed, the terms now say that minimum 5% can be forfeited if the exchange has to reclaim payments to incorrect addresses.
Related: FTX breaks $ 900 million crypto funding record to become an exchange
Rekt said it verified the deposits on the blockchain and asked FTX for a comment, but has not yet received a response. It called the exchange to fix the problem.
“As decentralized exchanges become more popular, trust becomes the most valuable trait that CEX can offer. In this case, FTX broke that trust and now they need to take action to fix it. “
The statements were also posted on the FTX Official subreddit but were removed late last month. One person clicked on the tweet from Rekt. responded explain he posted a blog on the FTX Telegram Group and was immediately banned.
Cointelegraph has contacted FTX for comment. No response at the time of writing.