a Blog post From Rekt revealed that FTX, a leading centralized exchange, charged one of its users around $1 million to help him retrieve a deposit made at a wrong address.
FTX charged at 15% instead of 5%
According to the post, the trader made a false deposit of $6.3 million in Paxos Stablecoin, which was rebranded to USDP, while his intention was to deposit funds in stablecoin for the DeFi borrowing platform whose bar was also USDP.
In the defense submitted to the exchange, the trader disclosed that the error was from the exchange because it failed to notify its users of “any other important announcements (such as a currency name change) except for emails of upcoming IEOs.”
He added that the charges against him are inconsistent withwrong title or string” From the exchange that states that the exchange will only charge between “$500 or 5%” to help a customer recover false deposits made in an FTX address. Instead, the exchange takes about 15 percent of the funds as its fee.
FTX Support attending to the client provided an interesting response to the client defense which stated, “Unfortunately, the decision on this matter is final. Please do not deposit unsupported assets at your FTX addresses.”
There is no official response from the exchange
Rekt stated that it was able to confirm the transaction on the blockchain and that it also contacted FTX for feedback but received no response. So it’s calling on the exchange to “charge this user (suggested) 5% fee in your terms and conditions, or explain why the community decided to ignore their own policy.”
The information available showed that the claims made by this customer had been posted to Official FTX subcategory But it was deleted.
Well I just posted this Tweet in their Telegram group and got banned 😂😂
Barmy (__Barmy) October 6, 2021
Twitter user Barmy also claimed to have Submit a Rekt . blog post For the FTX telegram group but it was also immediately blocked.
As of press time, the exchange has not yet made any official comment.
ad: Up to 20x margin on FTX.
Get edge In the crypto-asset market
You can access more coding insights and contexts in every article as a paid member of CryptoSlate Edge.
Join now for $19 a month DISCOVER ALL THE BENEFITS
Like what do you see? Subscribe to get updates.