Post
Topic
Board Bitcoin Discussion
Topic OP
How does Cash App facilitate customer BTC payments?
by
astaroth81
on 23/10/2024, 13:12:39 UTC
On Aug 30 I made a stupid rookie mistake. 

In short, I sent BTC to a cash app wallet address they used for my BTC withdrawal from Cash App by mistake.

Due to the address no longer being tied to my Cash App account (which I don't get why exactly it wasn't since they claim they only change the address after you receive a BTC deposit mine changed right before?!) the BTC was not returned to my cash app account.

From my understanding, Cash App facilitates customer withdrawals by first sending user BTC to a Cash App hot wallet address before sending the BTC to the requested external wallet address indicated by the customer. Meaning that the BTC should have last been in the possession of cash app last. But upon finally receiving a reply from Cash App months later they told me something surprising that doesn't add up.

They claim that the wallet address that I sent the BTC to on accident was linked to another Cash App users Cash App account, and they are the ones who received my BTC. I thought that since the wallet was owned by Cash App the BTC went to Cash App and that they would be able to return an equal amount of BTC back to me but they are not trying to do so.

Cash app isn't the only one to facilitate tx like this. Exchanges do it too to reduce cost of fees and from what I've heard when a customer makes the same mistake I did, the exchange will return the funds to the customer.

My question is:

Could Cash App be right and could it be possible that the BTC address which is;

(bc1q8cfvewthndj7lapq6jku76x9zkzwhet3x98lmx)

That was used to send me my BTC withdrawal from Cash App only about 30 minutes before, been switched from being connected to my Cash App account, to being connected to another user's Cash App account instead?

To me this doesn't make any sense whatsoever. Not only is it a security risk it just doesn't add up why would they reuse a BTC wallet address that was just tied to a users account that quickly?

The address ending mx only has

I'm thinking they are just trying not to take responsibility for it even though it's only like $321, still a lot to someone who's broke thanks to crypto casinos.

But if anyone can please help me out with this I'd really appreciate it.