A crypto hodler has accused FTX of overcharging $ 954,135 while claiming the fee was due to a false deposit that he believes was the fault of the exchange.
6, Rekt Blog posted a screenshot of the letter showing that the problem started when customers deposited around USDP 6.3 million, the stablecoin of the DeFi Unit Protocol lending platform, at the end of the month.
Unfortunately, stablecoin Paxos was also renamed 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 into the address exchange. Only for stablecoin Paxos.
The source: Rect blog
FTX compensated users for the mistaken deposit by returning approximately $ 5.4 million worth of stablecoins, but minus a 15% fee. Angry users replied:
“The exchange took over $ 1 million off my first deposit. This is inconsistent with the exchange’s “address or string errors” policy. I have no plans to deposit USDP into FTX, I am confused. 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, a closer look at the terms and conditions will make it clear that a “minimum” of 5% can be charged if the broker has to reclaim deposits to incorrect addresses.
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 who responded to Rekt’s tweet claimed he blogged on the FTX Telegram group and was immediately banned.
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According to Cointelegraph