A crypto hodler is outraged after allegedly collecting a fee of $ 954,135 from the centralized exchange FTX. The trader claims the fee was made on a mistaken deposit that he believes the exchange is to blame.
On October 6, the Rekt blog posted screenshots of the correspondence, suggesting the problems began when the customer ended up spending around $ 6.3 million in USDP, the stablecoin token for the DeFi lending platform Unit Protocol, deposited.
Unfortunately, the Paxos Stablecoin was also renamed USDP and the exchange changed the PAX ticker to USDP at the end of August. For example, the user apparently deposited $ 6.3 million in unsupported USDP tokens into the address of the exchange for the Paxos stablecoin.
This is a customer service notice.
Will FTX please follow its own terms and conditions?
A dissatisfied @ ftx_app user came to us for help after being overcharged of ~ $ 954,135 USD.
Is that how @SBF_FTX came to @Forbes? Https: //t.co/DJ1jnxaBh6
– rekt (@RektHQ) October 6, 2021
FTX compensated the user for the mistaken deposit by returning around $ 5.4 million in stablecoins but deducting a 15% fee. The angry user fired back:
“You withdrew more than $ 1 million from my first deposit. This is not in line with your Wrong Address or Chain policy. I did not intentionally deposit USDP into your FTX exchange, I was misled. I would like to appeal, please. “
Rekt reported that FTX has failed to adhere to its own terms and conditions, which state that a fee of up to 5% will be charged in such circumstances.
In the review by Cointelegraph, however, the conditions currently stipulate that at least 5% can be charged if the exchange has to reclaim deposits to incorrect addresses.
Related: FTX Breaks Crypto Funding Record With $ 900 Million Raise To Become Exchange Decacorn
Rekt said it verified the deposits on the blockchain and asked FTX for a comment, but received no response. It asked the exchange to fix the problem.
“As decentralized exchanges become more popular, trust becomes the most valuable trait a CEX can offer. In this case, FTX has broken that trust and they must now take action to fix it. “
The claims were also posted on the FTX Official subreddit but were deleted late last month. One respondent on Rekt’s tweet claimed he posted the blog on the FTX Telegram group and was immediately banned.
Cointelegraph has contacted FTX for comment. At the time of writing, there has been no response.