I Lost Some coins to exchange (and it feels like scam to me)

Kyraishi

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Quote from: Cryptoababe on August 28, 2021, 03:01:16 PM

I have 39 matic token ( polygon token which worth 50 dollars) on ftx. And I wanted to withdraw as polygon network matic But FTX only supports Erc20. which means i need to withdraw to another exchange which support polygon network matic token.
So, i withdraw them to my huobi account. I never know that huobi minimum deposit is 57 matic because I only noticed that after sending 39 matic to the exchange.
So, i decided to send more tokens (58 matic tokens). I only get 58 tokens deposit notification. And my previous 39 deposit was not added.
I contacted thier support and they said there is nothing they can do about it. Moreover, this exchange is not a DEX. Now i know why people call exchanges thieves.
Can anyone tell me why this minimum deposit is necessary in exchanges that are centralized?. Because i feel like its like an act to scam their customers.

If you agreed to their terms and conditions and you accidentally deposited less than the intended amount, that is totally on you.

There is nothing that we are able to do when it comes to this. It is clearly stated when you deposit, in red, and you chose to ignore it.

This is one of the rare instances where I would actually side with the exchange - they did absolutely nothing wrong here and recklessness is certainly not an excuse. You could try keep contacting support but I doubt you'll get refunded.

Oceat

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Quote from: stomachgrowls on September 09, 2021, 03:56:58 PM

Quote from: dustboy on September 07, 2021, 08:54:24 PM

Quote from: chaser15 on September 04, 2021, 09:42:08 PM

Quote from: Bitcoin_Arena on August 30, 2021, 04:32:40 PM

How could you have missed the clear warnings on the deposit page?
Not trying to support Huobi's act of not crediting the missing coins into your account, but if you had taken time to read the information, maybe it would have been available.
You should partly blame yourself for not paying attention to the warning.
~

Still not a valid reason. It's a legit form of scam to those unaware people. It can be solved by depositing again to fulfill the minimum. Why it's not allowed?

The screenshot above is clear enough, and it cant be called as a form of scam as the user gets a warning before depositing. He lost his 39 Matic because it is below the minimum deposit and as per rule "any deposits less than the minimum will not be credited or refunded". It was his own fault for not paying attention to the warning message.

People do only gets mindful when they are already experiencing some problems and its clear as day that he shouldnt have to go below on whats been shown or been told and its no surprising
that they would cry or whine over on the time that they had lost their coins.

It isnt really that hard to follow up instructions because if you dont like to experience problems then better to follow it,if not then you do know on what comes next.
Scam? No, its not a scam and you've been warned on the beginning and its clearly stated thats why accusing something like this is pointless.

This is the problem if you are not familiar with the exchanges you are doing some transaction that's why I always look carefully what could be the warning and should be aware of it. You can only call it a scam if they do not put any warning sign and yet you lost your token and they didn't do anything about it. But the exchange itself already show the warning message yet OP, carelessly proceeded to send some token and it was too late before he realized it was gone for good.

I experienced this kind of mistake before and I can't blame the exchanges because it's clearly on their ToS and there's a warning sign that I do take lightly without bothering to read/look carefully. I just did what I want to do just like what OPs been doing and viola, lesson learned after that.

stomachgrowls

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Quote from: dustboy on September 07, 2021, 08:54:24 PM

Quote from: chaser15 on September 04, 2021, 09:42:08 PM

Quote from: Bitcoin_Arena on August 30, 2021, 04:32:40 PM

How could you have missed the clear warnings on the deposit page?
Not trying to support Huobi's act of not crediting the missing coins into your account, but if you had taken time to read the information, maybe it would have been available.
You should partly blame yourself for not paying attention to the warning.
~

Still not a valid reason. It's a legit form of scam to those unaware people. It can be solved by depositing again to fulfill the minimum. Why it's not allowed?

The screenshot above is clear enough, and it cant be called as a form of scam as the user gets a warning before depositing. He lost his 39 Matic because it is below the minimum deposit and as per rule "any deposits less than the minimum will not be credited or refunded". It was his own fault for not paying attention to the warning message.

People do only gets mindful when they are already experiencing some problems and its clear as day that he shouldnt have to go below on whats been shown or been told and its no surprising
that they would cry or whine over on the time that they had lost their coins.

It isnt really that hard to follow up instructions because if you dont like to experience problems then better to follow it,if not then you do know on what comes next.
Scam? No, its not a scam and you've been warned on the beginning and its clearly stated thats why accusing something like this is pointless.

pealr12

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Quote from: Cryptoababe on August 28, 2021, 03:01:16 PM

I have 39 matic token ( polygon token which worth 50 dollars) on ftx. And I wanted to withdraw as polygon network matic But FTX only supports Erc20. which means i need to withdraw to another exchange which support polygon network matic token.
So, i withdraw them to my huobi account. I never know that huobi minimum deposit is 57 matic because I only noticed that after sending 39 matic to the exchange.
So, i decided to send more tokens (58 matic tokens). I only get 58 tokens deposit notification. And my previous 39 deposit was not added.
I contacted thier support and they said there is nothing they can do about it. Moreover, this exchange is not a DEX. Now i know why people call exchanges thieves.
Can anyone tell me why this minimum deposit is necessary in exchanges that are centralized?. Because i feel like its like an act to scam their customers.

Partly your fault because before generating a wallet address there is always a message informing about minimum deposit, perhaps you didn't pay attention some do have minimum deposit for reason best known to them but is often good to read any information with calmness in other not to make such costly mistake.

dustboy

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Merit: 517

Quote from: chaser15 on September 04, 2021, 09:42:08 PM

Quote from: Bitcoin_Arena on August 30, 2021, 04:32:40 PM

How could you have missed the clear warnings on the deposit page?
Not trying to support Huobi's act of not crediting the missing coins into your account, but if you had taken time to read the information, maybe it would have been available.
You should partly blame yourself for not paying attention to the warning.

Still not a valid reason. It's a legit form of scam to those unaware people. It can be solved by depositing again to fulfill the minimum. Why it's not allowed?

The screenshot above is clear enough, and it cant be called as a form of scam as the user gets a warning before depositing. He lost his 39 Matic because it is below the minimum deposit and as per rule "any deposits less than the minimum will not be credited or refunded". It was his own fault for not paying attention to the warning message.

btc78

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Eloncoin.org - Mars, here we come!

Quote from: Bitcoin_Arena on August 30, 2021, 04:32:40 PM

How could you have missed the clear warnings on the deposit page?
Not trying to support Huobi's act of not crediting the missing coins into your account, but if you had taken time to read the information, maybe it would have been available.
You should partly blame yourself for not paying attention to the warning.

it is clearly mentioned in the lower part about the 57 minimum deposit , how could OP missed that part and now claiming here that he feels like being scammed?

sad to accept the reality that most of our losses is because of our own laziness and being too confident .

Specially in dealing with a exchange that we don't usually uses , better to dig deeper first before engaging.

This may serve as lesson to OP to not jump into conclusion always and understand the policy first before usage .

chaser15

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Quote from: Cryptoababe on August 28, 2021, 03:01:16 PM

I never know that huobi minimum deposit is 57 matic because I only noticed that after sending 39 matic to the exchange.
So, i decided to send more tokens (58 matic tokens). I only get 58 tokens deposit notification. And my previous 39 deposit was not added.
I contacted thier support and they said there is nothing they can do about it. Moreover, this exchange is not a DEX. Now i know why people call exchanges thieves.
Can anyone tell me why this minimum deposit is necessary in exchanges that are centralized?. Because i feel like its like an act to scam their customers.

What you do is:

You send 39 MATIC not knowing it should be 57 MATIC as the minimum.
You send another 58 MATIC to comply with the minimum

You should now have 58 + 39 MATIC deposited on your Huobi but only the 58 MATIC last deposit credited? In other exchanges like Poloniex and Kucoin, once you deposited under minimum amount, all you have to do is to fulfill the amount until it reached the minimum.

And Huobi's response is, the 39 MATIC is now gone? Most exchanges have a minimum deposit but a prior deposit should be credited. That was unprofessional.

Quote from: Bitcoin_Arena on August 30, 2021, 04:32:40 PM

How could you have missed the clear warnings on the deposit page?
Not trying to support Huobi's act of not crediting the missing coins into your account, but if you had taken time to read the information, maybe it would have been available.
You should partly blame yourself for not paying attention to the warning.

Still not a valid reason. It's a legit form of scam to those unaware people. It can be solved by depositing again to fulfill the minimum. Why it's not allowed?

noorman0

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[Nope]No hype delivers more than hope

Each exchange has a minimum number of confirmations required for the balance to be credited to the main account. If you immediately send additional tokens before reaching that confirmation number, your balance should be credited without any problems. This has also happened to me in the past. Luckily I moved quickly by increasing the sending fees from before to get confirmation immediately.

Quote from: Cryptoababe on August 28, 2021, 03:01:16 PM

-snip-
And my previous 39 deposit was not added.

Always check, if your first token (39 tokens) is also withdrawn to their hot wallet, they should credit your balance manually.

Mkmanik

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Merit: 516

You need to be more careful before making any deposit anywhere. Whenever I tried to move/deposit my coin to another address or exchange site, I try to read all of the details. Because I also lost some coins like you. But my problem was: they did not support smart contract deposits. So I lost a few bucks, but it was a good lesson for me. Hope next time you did not do this kind of mistake.

However, So you already tried to contact support but they did nothing. I have no idea that they have an ANN thread in this forum or not. If there is any ANN thread, Try to make a post with details. Hope they will notice it with more priority.

mexite

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Hey sorry for your loss. Most CEXs, if not all, have minimum deposit and withdrawal amount for each token/coin. It's the duty of users to ascertain this before depositing any coin. Unfortunately in your case, the coin probably falls in the category of "unstackable coins". That means that even if you make up for the deficiency by sending more coins, the exchange won't still add it up and credit all your deposits. I don't actually know if it has anything to do with their operating cost or it's just a business policy.

Cryptoababe

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Quote from: Bitcoin_Arena on August 30, 2021, 04:32:40 PM

How could you have missed the clear warnings on the deposit page?
Not trying to support Huobi's act of not crediting the missing coins into your account, but if you had taken time to read the information, maybe it would have been available.
You should partly blame yourself for not paying attention to the warning.

Yes, I blamed my self for not paying attention.
But i thought there should always be a solution when more funds are being added because anyone can just easily make this kind of mistake.
I blamed my self for also choosing huobi.

Bitcoin_Arena

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฿itcoin for all, All for ฿itcoin.

How could you have missed the clear warnings on the deposit page?
Not trying to support Huobi's act of not crediting the missing coins into your account, but if you had taken time to read the information, maybe it would have been available.
You should partly blame yourself for not paying attention to the warning.

dunfida

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Quote from: Erdogan on August 30, 2021, 09:41:01 AM

Quote from: Cryptoababe on August 28, 2021, 03:01:16 PM

I have 39 matic token ( polygon token which worth 50 dollars) on ftx. And I wanted to withdraw as polygon network matic But FTX only supports Erc20. which means i need to withdraw to another exchange which support polygon network matic token.
So, i withdraw them to my huobi account. I never know that huobi minimum deposit is 57 matic because I only noticed that after sending 39 matic to the exchange.
So, i decided to send more tokens (58 matic tokens). I only get 58 tokens deposit notification. And my previous 39 deposit was not added.
I contacted thier support and they said there is nothing they can do about it. Moreover, this exchange is not a DEX. Now i know why people call exchanges thieves.
Can anyone tell me why this minimum deposit is necessary in exchanges that are centralized?. Because i feel like its like an act to scam their customers.

Unfortunately, if the regulations state what the minimum deposit must be, your deposit is forfeited. There is nothing that is not officially written here, so you have to accept that you made a mistake and lost your money.

When it comes to minimum deposit amounts and withdrawals, they are set mainly to keep costs down. Simply small amounts are often less than transaction fees and this is to avoid such situations.

This would be a lesson learned and moved on since this is his error on sending out coins which didnt able to reach out the minimum deposit amount and regarding with the rules then you do have
to deal with the violation and at least you are aware now and wont really committing the same mistake.
It isnt directly talking as a scam as long you had violated something and its just normal that you would really experiencing something like this.

Erdogan

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Quote from: Cryptoababe on August 28, 2021, 03:01:16 PM

I have 39 matic token ( polygon token which worth 50 dollars) on ftx. And I wanted to withdraw as polygon network matic But FTX only supports Erc20. which means i need to withdraw to another exchange which support polygon network matic token.
So, i withdraw them to my huobi account. I never know that huobi minimum deposit is 57 matic because I only noticed that after sending 39 matic to the exchange.
So, i decided to send more tokens (58 matic tokens). I only get 58 tokens deposit notification. And my previous 39 deposit was not added.
I contacted thier support and they said there is nothing they can do about it. Moreover, this exchange is not a DEX. Now i know why people call exchanges thieves.
Can anyone tell me why this minimum deposit is necessary in exchanges that are centralized?. Because i feel like its like an act to scam their customers.

Unfortunately, if the regulations state what the minimum deposit must be, your deposit is forfeited. There is nothing that is not officially written here, so you have to accept that you made a mistake and lost your money.

When it comes to minimum deposit amounts and withdrawals, they are set mainly to keep costs down. Simply small amounts are often less than transaction fees and this is to avoid such situations.

lenovop-70

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I am sorry to hear that dear, and i am sorry too because you didnt read it carefully before do transaction.

Your first deposit was wrong by system, and i think their costumer service doesnt have authority to access client wallet without higher approval from the admin.
And your second transfer was right by the system, and its showing on your wallet, but the system doesnt have accumulative automatic authority, thats why your first transaction did not showing on your wallet.

Your case should have special attention from them, because I think it relates to their automated system.

Quidat

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Quote from: Chathusand on August 29, 2021, 02:24:55 PM

They're working on a soft fraud here. There are also exchanges that have separate addresses for BEP-20 and ERC-20 that refuse to return it if we deposit it incorrectly, despite the fact that they clearly have access to that address.

Take a look or some peek on Binance which they do have separate addresses or does have those kind of warnings about wrong deposits on wrong addresses which would result
into lost of coins. Im not aware on other exchange terms and methods where they do really have that minimum deposit amount because most of the time they dont really
ask out in most exchangers that ive been using through years.The only thing that op could do is to wait up for their response neither they would really be considering out
or totally couldnt solve it off.

Chathusand

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They're working on a soft fraud here. There are also exchanges that have separate addresses for BEP-20 and ERC-20 that refuse to return it if we deposit it incorrectly, despite the fact that they clearly have access to that address.

kensaii

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Quote from: Cryptoababe on August 29, 2021, 07:05:25 AM

Quote from: vv181 on August 29, 2021, 06:18:30 AM

The only thing I can assume is:
They have a target of minimum profit/overhead cost that they are required to operate per each user. So in the first place, that is why they set up the minimum deposit requirement. Therefore, speaking about your cases, because of the current situation, your amount is low enough that they might be didn't simply care enough about it since solving the cases would outweigh the cost instead of the benefit (time = money).

Also, maybe they didn't have any automated process to solve these particular cases. Developing it would also require some cost and time to develop it.

Maybe you are right, But i expect a big exchange like Huobi should not have this kind of issue. This exchange is popular and also have thier own blockchain.
This will make me think that thier blockchain might not be safe enough and can even be a centralised shitchain. I was so disappointed by not seeing my remaining 39 matic added because i dont except an exchange like Huobi to hold customer's coins and not add it to thier account.

I think they did you dirty there, sure your first deposit was below the minimum amount to register it but your second deposit (on the same address, right?) would sort out the issue. They can't just pull "No, your first deposit is in the limbo and we can only give you the second deposit". Also, you shouldn't hold Huobi as a good, well-behaved, fair and square centralized exchange. They're there to take your money and will do all sorts of things if they can get away with it. The "we're good and trusted, willing to listen to your demand" is mostly just bullshit for marketing scheme, don't buy it.

vv181

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Quote from: Cryptoababe on August 29, 2021, 07:05:25 AM

~

Another lesson learned, just don't try to have high hope for any centralized exchange ever. The amount seems a lot for you but there is nothing you can do but move on, and do your diligence if you try to use any platforms/services again next time.

Also, don't forget about:
Not Your Keys, Not Your ~~crypto~~Bitcoin

Ultegra134

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Quote from: vv181 on August 29, 2021, 06:18:30 AM

Quote from: Ultegra134 on August 29, 2021, 03:59:27 AM

but their support should have helped, this is outrageous.

Well, their support already helped as @OP stated, they might be just not being helpful because this particular case is bound to the agreements that the user agreed, which they can't do anything about it.

Quote from: Cryptoababe on August 29, 2021, 02:10:06 AM

Exactly what im trying to say. Why Would they keep my coins?

The only thing I can assume is:

They have a target of minimum profit/overhead cost that they are required to operate per each user. So in the first place, that is why they set up the minimum deposit requirement. Therefore, speaking about your cases, because of the current situation, your amount is low enough that they might be didn't simply care enough about it since solving the cases would outweigh the cost instead of the benefit (time = money).

Also, maybe they didn't have any automated process to solve these particular cases. Developing it would also require some cost and time to develop it.

I fully understand that, there's a chance that the customer support is actually unable to do anything in that case, meaning they have no physical access/permission to conduct such a move.

Anyway, it seems like there's not much OP can do, if no other solution is found, then I'm really sorry for your loss.

Topic: I Lost Some coins to exchange (and it feels like scam to me) (Read 213 times)