BlockFi’s BTC Payment on Their Promo Gone Wrong
BlockFi users who joined the March Trading Promotion seemed to have gotten their BTC rewards earlier than they expected but with much dispute.
BlockFi has incorrectly deposited an excessive amount of BTC to users’ wallets and is trying to get it back through reversals. According to a user from Reddit with the same experience on this issue, BlockFi has sent an email accusing the user of withdrawing funds that aren’t his own. He stated that he was accused of potential fraud and they will act on it if the coins were not returned in the next two hours. If returned, the company also offered a compensation of $500 worth of stablecoin GUSD for the inconvenience.
BlockFi is a financial services company that connects cryptocurrencies and traditional financial and wealth management products. The said March Trading Promo is a Bitcoin reward bonus wherein the client with a high percentage of traded volume is eligible for the bonus within the promo period. The promo payout was supposed to be given by the end of May.
Countless users along with those who didn’t participate in the promo have experienced the same situation, stating that their BTC transaction was reversed or got cancelled. Last Friday, BlockFi posted on their Twitter that there was an issue with inaccurate bonus payments being given away to the participants. They also stated in the post that they were fixing the issue immediately so the correct amount will be reflected.
BlockFi’s inaccuracy will give users a bad impression of the company’s security and quality of their system. Plus, the inconvenience of the issue made a lot of clients displeased.
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