In January I talked about The unsung heroes of Bitcointalk and found examples of exemplary behaviour by Bitcointalk members. This will be a similar topic, but this time the main focus will be on cryptocurrency exchanges. One of the most common mistakes that users do is they send their coins to the wrong addresses or blockchains. Because these addresses belong to custodial and centralised exchanges, most of the time, the money is simply lost. Exchanges don’t want to bother recovering these funds. In the list below, I have listed five examples of where exchanges took some time to resolve their client issues and were able to recover their funds. DISCAIMER: - This is not support or endorsement of any of the mentioned exchanges and services! Before you send your coins to any exchange, do your own research, check the reputation of said platform, and ask the community for help if you are unsure!
1. On 28 September 2019, greggson sent $4.000 worth of TUSD to a USDT wallet address. The coins were sent from ABRA wallet to a USDT address on EXXA exchange. Naturally, the user doesn’t own the private keys to recover the funds himself, so he contacted the exchange and asked for their help. He called the head office in Singapore and was promised they would look into the case and contact him within a few days. Three days later, greggson is told to give them the correct address to deposit his TUSD and deposit some ether to cover the transaction fees. The user deposited 0.115 ETH ($20 at the time) and waited. Another two days passed before greggson noticed that his 0.115 ETH deposit now shows only 0.11464805 ETH. Within an hour, the user informed the Bitcointalk community that his funds were recovered and credited to his account. The exchange credited his account with USDT instead of TUSD. YAAAAASSSSS!! I just checked my EXXA wallet and $4K of USDT has been deposited
I can't believe EXXA rectified the situation but they took it one step beyond even converted my original $4K of TUSD to $4K USDT and deposited the whole $4K into my EXXA wallet
WHOO-WHOO!! THANK YOU SO bitcointalk community and to DRAGON!!
A-L-O-H-A 🤙
https://bitcointalk.org/index.php?topic=5189161.msg52696989#msg526969892. Freewallet is a multicurrency wallet with a built-in exchange. If you haven’t heard of it before, it’s the wallet that Elon Musk criticised at the beginning of February by saying: “Your app sucks”
https://twitter.com/elonmusk/status/1359390452772966404 This service has a bad reputation on Bitcointalk, but that isn’t the topic for today’ discussion.In April 2019, kingplaya4 started a scam accusation thread against Freewallet because he was missing funds he attempted to exchange over the platform. The user sent 1.89 BTC and wanted to exchange those coins for BAT tokens. The exchange remained uncompleted for several hours, so he contacted Freewallet support to see what was going on. When he didn't receive precise details of when his funds will be sent to his wallet, he accused them of scamming. A Freewallet representative responded that his tokens had been sent to the wrong ETH address. Therefore, it would take some time before they can be returned to the rightful owner:Hello! We'd like to once again emphasize that as we are talking about the transaction sent to a wrong address, this case may require some time to be resolved. We are doing our best to solve it for you as soon as possible. Thank you.
Five days after the scam accusation was created, Freewallet informed the community that the tokens have been retrieved and sent to the correct address:Hello, we are happy to inform you that your case has been successfully resolved. Thank you for your patience and have a great weekend!
https://bitcointalk.org/index.php?topic=5134482.msg50784980#msg50784980 kingplaya4 confirmed that he received his BAT tokens, and this case was successfully resolved:Just wanted to say Freewallet did return all the coins to me and I have been able to exchange them back into BTC. They returned them several days ago, I was just waiting on making the exchange and wanted to make sure I would be able to get the coins out of the wallet and do the exchange successfully. Thanks to the freewallet representative on here who helped.
3. P2PB2B.io is another cryptocurrency exchange with a dubious reputation on Bitcointalk. In December 2019, BitcoiNaked accused them of scamming him for $3.000 worth of XTZ coins. The user says he wanted to participate in an IEO on their exchange. But that IEO got cancelled, and when he attempted to withdraw his funds, the exchange refused to authorise the withdrawal because of "suspicious activity". The exchange responded, saying that an error is the reason why BitcoiNaked hasn't received his money, and he should try again. They also made irrelevant comments about him changing his Bitcointalk password recently and being an account seller. After 3 weeks, the user finally got his Tezos coins and was able to withdraw them.So i finally received my funds into my wallet, i do feel like i had to go through so many steps and accusations to get my money. Nontheless fair play to them to deposit my money. I can't say now that i have been scammed since they returned my money, so for me now they seem incompetent, since a withdrawal for me took 3 weeks and tons of running after my funds to get a withdrawal.
https://bitcointalk.org/index.php?topic=5207571.msg53283849#msg532838494. In May 2017, CryptoManiacHen sent 7 ETH from his Exodus account to Yobit. The only problem is that he sent the coins to an ETC address. The user reached out to Yobit support that confirmed that his ether had been sent to the wrong address. A little bit later, Yobit sent the user an activation code that would allow him to claim the lost coins from Yobit's insurance fund. CryptoManiacHen entered the code on the address they sent him. His ether was returned to his Yobit account by the insurance fund. You guys won't believe this. Yobit gave me an activation code and then a link to enter it which had gave me the full amount of my ETH from their insurance fund. WTF. Problem solved. I truly can't believe it.
Has anyone had a similar experience with an exchange where funds were returned from an insurance fund like this? This is the first time I hear about it.5. The last case is from February 2021. TradeMeUp wanted to receive some tether on https://exchange.blockchain.com/, but he made a mistake and sent his client an ETH address instead. The sender deposited the funds to the wrong address, and TradeMeUp couldn’t access them. After he contacted Blockchain.com support, he was initially told that his money could be lost if sent to the wrong address, or it could take months for it to be recovered. Luckily, it took only three days. TradeMeUp informed the community that his coins were recovered and sent to the correct address. Update. They returned full amount without any fees to correct USDT address less than in week. It's amazing! How i can change title of this topic (scamming is no longer actual)?
If you know of other good examples where exchanges recovered the money for Bitcointalk users, feel free to share them in the posts below!