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Topic: Lost 17k on CEX.IO *solved, CEX.IO paid (Read 304 times)

CEX
legendary
Activity: 1227
Merit: 1003
June 14, 2021, 05:04:07 AM
#27


We are glad to know that our team has been able to resolve your case to your benefit.
And once again, we are sorry for the situation.
This is how the the company must act in every situation they will face and not to throw stone to the complainant , with this I respect your company Mate.
Quote
The lesson learned and we will definitely do our best to provide our customers with the best services possible only.
Another Salute for your company and Team , Please continue that way and you will earn support and respect to the whole community .
Quote
Many thanks for your patience, understanding, and cooperation!
you deserve the patience and Understanding.. Be good always.

Many thanks for your kind words!

CEX.IO indeed values its customers and we are committed to ensuring that every user receives great service.

If you should ever find that you are in need of our assistance, please don’t hesitate to reach out.
full member
Activity: 2520
Merit: 214
Eloncoin.org - Mars, here we come!


We are glad to know that our team has been able to resolve your case to your benefit.
And once again, we are sorry for the situation.
This is how the the company must act in every situation they will face and not to throw stone to the complainant , with this I respect your company Mate.
Quote
The lesson learned and we will definitely do our best to provide our customers with the best services possible only.
Another Salute for your company and Team , Please continue that way and you will earn support and respect to the whole community .
Quote
Many thanks for your patience, understanding, and cooperation!
you deserve the patience and Understanding.. Be good always.
CEX
legendary
Activity: 1227
Merit: 1003
Hello

@cex

I made a big transfer of KNC Token from Binance to CEX.IO. Unfortanely i did not know that Kyber
network made a upgrade and that they have now two different protocols. CEX.IO still supports the older protocol and Binance the newer one and also the older one. But they didnt inform on their deposit/withdraw page about that. KNC recommended that exchanges name the older one KNCL and the newer network keeps the name KNC. So i couldnt know that there was a upgrade in the first place! I am not going to check every time the site of the coin, especially not when it worked before that  just fine.

Recommendation + explanation of KNC:
https://blog.kyber.network/knc-token-migration-guide-fda08bfe62c2

So i contacted support on CEX.IO and they only did write me 5 days after my initial response. They did write this:

Quote
Hello D----

We have checked the information about your KNC deposit.

Please, be informed that CEX.IO does not support Kyber Network Crystal v2.

We would be more than happy to credit the mentioned deposit to your CEX.IO account or to send the amount of 9,435.551 KNC via Kyber Network Crystal v2 back to the sending wallet. However, as you may know, in order to perform both these actions, one will need necessary instruments. And, sadly, however, we have none of the instruments for cryptoprocessing of Kyber Network Crystal v2 token protocol.

Yes, we fully understand your situation, however, we are not able to recover the funds. Thus, we kindly ask you to refrain from unsupported tokens to your CEX.IO wallets.

Thank you for understanding!


So is this all? I will just loose my funds? Why can i retrive my coins when the same happens on Coinbase but not on CEX.IO?

Keep in mind i did several transactions from Binance to CEX.IO with KNC Token before this month and it worked without any problems. Also there was no warning on Binance Site or on CEX.IO site, nothing regarding that the network has changed or upgradet or whatever! Is this how you treat a loyal customer that does transfer coins worth of several millions dollar each month to and from your exchange? This response and thats it?

Now you let me wait again days before you respond me? No forwarding to a supervisor or anything similiar?

I contacted KNC and they said maybee if CEX.IO upgrades the token then i will get my funds, but this is just a big maybee IMO.

@cex please contact KNC and ask if there is anything you can do? I love to trade on your platform, but just this response after this 5 days is unnacteptable. Lets find a solution.

up136245374

We are glad to know that our team has been able to resolve your case to your benefit.
And once again, we are sorry for the situation.

The lesson learned and we will definitely do our best to provide our customers with the best services possible only.

Many thanks for your patience, understanding, and cooperation!
newbie
Activity: 12
Merit: 10
OP, VERY unacceptable. I can understand if they won’t accomodate a customer with such a problem for $100, but $17,000? They should have the resources to run a node for the upgraded network, and return the coins.

It’s a hard lesson, always do a “test transaction” before sending the whole amount.

Quote
Looking at the case you are experiencing, there should be a preview of the status of the address you are going to. Or is there no official notification in the wallet you are going to? If it's like this then I think CEX.io is at fault. If there is already an announcement and you insist on sending it then it is purely your fault. Several times I moved my assets to do a trial with a small nominal, so everything was not straightforward. Until now it's safe.


Guys thx for the input but i already explained why i didnt made a test transaction. Also there was no warning or something similiar as i said in my initial post.


You can’t always be “too sure”. I’m sorry, but I will say this again, you learned a hard and expensive lesson. Everyone and everything dealing with cryptocurrencies should always go by, “Don’t trust, ALWAYS verify”.


Basically what you are saying is that me and thousand other day traders should quit day trading because there is a one out of hundred thousand chance that something like this could happen. I am not going to send for every transaction a test transaction when it worked few days/weeks before several times without any problems, this would just be insane, there is absolute no reason to assume that it wont work suddenly, also i am aware that there is usually some sort of warning when there is a upgrade! I think this is just a wrong mentality to search the mistake at the consumer end in this very clear case. What standards are we setting when we do that?!
legendary
Activity: 2898
Merit: 1823
OP, VERY unacceptable. I can understand if they won’t accomodate a customer with such a problem for $100, but $17,000? They should have the resources to run a node for the upgraded network, and return the coins.

It’s a hard lesson, always do a “test transaction” before sending the whole amount.

Quote
Looking at the case you are experiencing, there should be a preview of the status of the address you are going to. Or is there no official notification in the wallet you are going to? If it's like this then I think CEX.io is at fault. If there is already an announcement and you insist on sending it then it is purely your fault. Several times I moved my assets to do a trial with a small nominal, so everything was not straightforward. Until now it's safe.


Guys thx for the input but i already explained why i didnt made a test transaction. Also there was no warning or something similiar as i said in my initial post.


You can’t always be “too sure”. I’m sorry, but I will say this again, you learned a hard and expensive lesson. Everyone and everything dealing with cryptocurrencies should always go by, “Don’t trust, ALWAYS verify”.
hero member
Activity: 2702
Merit: 716
Nothing lasts forever
I would have had a mini heart attack if that would have happened to me. But yeah it's completely unacceptable for such a lame response from them.
You should keep trying until your money is refunded to your wallet whether it be the new version or the old one.
I think even binance should have mentioned it on their withdrawal page about the network change.
Both Binance and CEX are at fault on this one.
hero member
Activity: 2926
Merit: 795
OP, VERY unacceptable. I can understand if they won’t accomodate a customer with such a problem for $100, but $17,000? They should have the resources to run a node for the upgraded network, and return the coins.

It’s a hard lesson, always do a “test transaction” before sending the whole amount.

Quote
Looking at the case you are experiencing, there should be a preview of the status of the address you are going to. Or is there no official notification in the wallet you are going to? If it's like this then I think CEX.io is at fault. If there is already an announcement and you insist on sending it then it is purely your fault. Several times I moved my assets to do a trial with a small nominal, so everything was not straightforward. Until now it's safe.


Guys thx for the input but i already explained why i didnt made a test transaction. Also there was no warning or something similiar as i said in my initial post.

The exchange should put a warning message since they must be aware on the changes of all the coin they list. Its there responsibility to warn every user in all possible way. Base on the statement that they send to you. They are not yet upgrading there KCN wallet that will support the new version. I believe KCN devs can help you to figure out how to solve this then relay it on CEX.io support. It seems that the exchange devs is not that knowledgeable on Kyber code that's why they are making this kind of excuse to make your issue close shortly.
newbie
Activity: 12
Merit: 10
OP, VERY unacceptable. I can understand if they won’t accomodate a customer with such a problem for $100, but $17,000? They should have the resources to run a node for the upgraded network, and return the coins.

It’s a hard lesson, always do a “test transaction” before sending the whole amount.

Quote
Looking at the case you are experiencing, there should be a preview of the status of the address you are going to. Or is there no official notification in the wallet you are going to? If it's like this then I think CEX.io is at fault. If there is already an announcement and you insist on sending it then it is purely your fault. Several times I moved my assets to do a trial with a small nominal, so everything was not straightforward. Until now it's safe.


Guys thx for the input but i already explained why i didnt made a test transaction. Also there was no warning or something similiar as i said in my initial post.
hero member
Activity: 1400
Merit: 770
Looking at the case you are experiencing, there should be a preview of the status of the address you are going to. Or is there no official notification in the wallet you are going to? If it's like this then I think CEX.io is at fault. If there is already an announcement and you insist on sending it then it is purely your fault. Several times I moved my assets to do a trial with a small nominal, so everything was not straightforward. Until now it's safe.
legendary
Activity: 2898
Merit: 1823
OP, VERY unacceptable. I can understand if they won’t accomodate a customer with such a problem for $100, but $17,000? They should have the resources to run a node for the upgraded network, and return the coins.

It’s a hard lesson, always do a “test transaction” before sending the whole amount.
newbie
Activity: 12
Merit: 10
Hello

@cex

I made a big transfer of KNC Token from Binance to CEX.IO. Unfortanely i did not know that Kyber
network made a upgrade and that they have now two different protocols. CEX.IO still supports the older protocol and Binance the newer one and also the older one. But they didnt inform on their deposit/withdraw page about that. KNC recommended that exchanges name the older one KNCL and the newer network keeps the name KNC. So i couldnt know that there was a upgrade in the first place! I am not going to check every time the site of the coin, especially not when it worked before that  just fine.

Recommendation + explanation of KNC:
https://blog.kyber.network/knc-token-migration-guide-fda08bfe62c2

So i contacted support on CEX.IO and they only did write me 5 days after my initial response. They did write this:

Quote
Hello D----

We have checked the information about your KNC deposit.

Please, be informed that CEX.IO does not support Kyber Network Crystal v2.

We would be more than happy to credit the mentioned deposit to your CEX.IO account or to send the amount of 9,435.551 KNC via Kyber Network Crystal v2 back to the sending wallet. However, as you may know, in order to perform both these actions, one will need necessary instruments. And, sadly, however, we have none of the instruments for cryptoprocessing of Kyber Network Crystal v2 token protocol.

Yes, we fully understand your situation, however, we are not able to recover the funds. Thus, we kindly ask you to refrain from unsupported tokens to your CEX.IO wallets.

Thank you for understanding!


So is this all? I will just loose my funds? Why can i retrive my coins when the same happens on Coinbase but not on CEX.IO?

Keep in mind i did several transactions from Binance to CEX.IO with KNC Token before this month and it worked without any problems. Also there was no warning on Binance Site or on CEX.IO site, nothing regarding that the network has changed or upgradet or whatever! Is this how you treat a loyal customer that does transfer coins worth of several millions dollar each month to and from your exchange? This response and thats it?

Now you let me wait again days before you respond me? No forwarding to a supervisor or anything similiar?

I contacted KNC and they said maybee if CEX.IO upgrades the token then i will get my funds, but this is just a big maybee IMO.

@cex please contact KNC and ask if there is anything you can do? I love to trade on your platform, but just this response after this 5 days is unnacteptable. Lets find a solution.

up136245374

Dear DenzelDon,

Thank you for bringing our attention to your situation here.
We’re sorry you have had an adverse experience as we strive to give all our customers top-quality services and support.

We have forwarded your case to the tech team for a closer investigation and will make every effort for you to get a satisfactory resolution. We will update you here with the news although it might take some time. As you were notified, we currently do not have instruments for the Kyber Network Crystal v2 token protocol and therefore, the processing will be time- and effort-consuming. 

Nevertheless, we'll be following the progress and updating you accordingly.

We highly appreciate your patience in advance!

Hello

Thanks for the response and forwarding it!

I talked in the meantime also to KNC on their discord and they write me this:

Quote
Ece — Today at 5:21 AM
Since the old and new KNC are an ERC20 token, if the user sends new KNC to an Ethereum address controlled by CEX.io they should be able to return the funds later. But Kyber can't do anything on our end.
We have also contacted CEX and reminded them of this situation

Lets hope this is just a matter of the upgrade and that you will upgrade sooner or later KNC. Thanks
jr. member
Activity: 65
Merit: 6
Glad to see CEX found this thread and is looking into it. Really sorry to hear the OP lost such a large amount of funds and I really hope this gets resolved. What's gotta be most frustrating is that you did it before and everything went through just fine. Hard to beat yourself up over not sending a smaller "test" amount first when you've done this before and had no issues. I kind of agree with what another poster (teosanru) mentioned in this thread, if the token makes an upgrade it should be both the responsibility of token and exchange that everything gets updated. Keep us posted!
CEX
legendary
Activity: 1227
Merit: 1003
Hello

@cex

I made a big transfer of KNC Token from Binance to CEX.IO. Unfortanely i did not know that Kyber
network made a upgrade and that they have now two different protocols. CEX.IO still supports the older protocol and Binance the newer one and also the older one. But they didnt inform on their deposit/withdraw page about that. KNC recommended that exchanges name the older one KNCL and the newer network keeps the name KNC. So i couldnt know that there was a upgrade in the first place! I am not going to check every time the site of the coin, especially not when it worked before that  just fine.

Recommendation + explanation of KNC:
https://blog.kyber.network/knc-token-migration-guide-fda08bfe62c2

So i contacted support on CEX.IO and they only did write me 5 days after my initial response. They did write this:

Quote
Hello D----

We have checked the information about your KNC deposit.

Please, be informed that CEX.IO does not support Kyber Network Crystal v2.

We would be more than happy to credit the mentioned deposit to your CEX.IO account or to send the amount of 9,435.551 KNC via Kyber Network Crystal v2 back to the sending wallet. However, as you may know, in order to perform both these actions, one will need necessary instruments. And, sadly, however, we have none of the instruments for cryptoprocessing of Kyber Network Crystal v2 token protocol.

Yes, we fully understand your situation, however, we are not able to recover the funds. Thus, we kindly ask you to refrain from unsupported tokens to your CEX.IO wallets.

Thank you for understanding!


So is this all? I will just loose my funds? Why can i retrive my coins when the same happens on Coinbase but not on CEX.IO?

Keep in mind i did several transactions from Binance to CEX.IO with KNC Token before this month and it worked without any problems. Also there was no warning on Binance Site or on CEX.IO site, nothing regarding that the network has changed or upgradet or whatever! Is this how you treat a loyal customer that does transfer coins worth of several millions dollar each month to and from your exchange? This response and thats it?

Now you let me wait again days before you respond me? No forwarding to a supervisor or anything similiar?

I contacted KNC and they said maybee if CEX.IO upgrades the token then i will get my funds, but this is just a big maybee IMO.

@cex please contact KNC and ask if there is anything you can do? I love to trade on your platform, but just this response after this 5 days is unnacteptable. Lets find a solution.

up136245374

Dear DenzelDon,

Thank you for bringing our attention to your situation here.
We’re sorry you have had an adverse experience as we strive to give all our customers top-quality services and support.

We have forwarded your case to the tech team for a closer investigation and will make every effort for you to get a satisfactory resolution. We will update you here with the news although it might take some time. As you were notified, we currently do not have instruments for the Kyber Network Crystal v2 token protocol and therefore, the processing will be time- and effort-consuming. 

Nevertheless, we'll be following the progress and updating you accordingly.

We highly appreciate your patience in advance!
newbie
Activity: 12
Merit: 10
Ouch, that is the worst thing that can happen to any trader, just do a small test transfer before sending all next time. For big funds, I usually triple-check all protocols, addresses, minimum/max limits, and daily withdrawal limits. As suggested above try to contact with exchange representative and hope the Cex.io team will help u to recover the funds. Manual intervention is required to solve this problem AFAIK.

I mean i did several transfers to the same adress before, i dont see me doing test transfers and paying every time double the gas fees just because there could be something. Especially not as a day trader. This would not only cost me money but also a lot of time. Impossible.


~Snipped

I mean depending how you look at it you could blame all 3 sides. Yeah normally they put up a warning on their deposit/widhrawal page. Idk what happened this time. Yeah binance was also every time very helpful when something similiar would happen. Really disapointing from CEX.IO that they just put me off like this. But lets see, i still have some hope.

Yes, all three parts (you, Binance, Cex.io) can share in the blame.


 - You, because if you had stayed closer to projects you're holding, you'd be aware of the recent changes.

- Binance, for not putting a notice about it.

- CEX.io, for doing very little to resolve the issue.

Even if you knew about the KNC token swap, you might still not be aware of which of the two tokens are supported by exchanges where KNC is listed. If CEX.io had put up a notice about accepting KNCL only, then I'm sure this would've been avoided. Most times when I'm about to make a deposit or withdrawal and there's a note about depositing the right asset, I take time out to read them and haven't had such issues aside from the one I made with BNB 2-3 years ago.


No, i dont agree that i am to blame here. Not even a little bit. I always read and double check everything. It said KNC and on Binance KNC. Thats it. Keep in mind before that incident i did send several times KNC token from Binance to CEX.IO without any problem. When i say all three sides then i mean also KNC.  As a programmer i can assure you, you could implement some sort of solution so that Tokens cant get lost when there is a upgrade. There are hundreds of other coins who dont have this problem when they do a major upgrade. You can be sure that i would implement something when i would own a multimillion dollar company, because this is a very high possibilty that could happen and i am sure this happens now to a lot of people. So thats what i mean when i say all three sides. KNC, Binance and CEX.IO.
Also there is a difference betwenn hodling and day trading. This mindset would make day trading impossible. But i learned my lesson and for now i do check also every coin on their twitter page if there is a upgrade or something.

I agree with the note part. Clearly a error by Cex.io listing the coin still as KNC. Still would have send the coins to the old adress in the end. So or so you cant blame it on me, we pay them fees so they need to provide us with a working exchange. Imagine VISA would do a error like this. Would you blame the customer? No, exchanges need to get their shit together and compensate if they do a error or how else Cryptos and Exchanges would gain a good reputation and become a real alternative to FIAT? We need to demand high standards and report every error they make so they learn and hopefully in the end of the day they will provide us with a high standard service and Cryptos can grow as a whole.
hero member
Activity: 3150
Merit: 636
DGbet.fun - Crypto Sportsbook
I've seen a strategy of someone that before sending the whole batch of his funds, he's doing test sending with smaller amounts so that the receiving party will have it credit. And when it's done, that's the time that I'll be sending the whole amount if it's already credited.

On this case, CEX's response should be giving more of a solution than frustration. If they happen to know that you're a loyal customer, they should give a solution to give back to you as a loyal customer. I'm sure that there's a way for them to help you on that, it's just that the customer support that replied to you didn't raised the matter to the higher department.
hero member
Activity: 2212
Merit: 805
Top Crypto Casino
~Snipped

I mean depending how you look at it you could blame all 3 sides. Yeah normally they put up a warning on their deposit/widhrawal page. Idk what happened this time. Yeah binance was also every time very helpful when something similiar would happen. Really disapointing from CEX.IO that they just put me off like this. But lets see, i still have some hope.

Yes, all three parts (you, Binance, Cex.io) can share in the blame.


 - You, because if you had stayed closer to projects you're holding, you'd be aware of the recent changes.

- Binance, for not putting a notice about it.

- CEX.io, for doing very little to resolve the issue.

Even if you knew about the KNC token swap, you might still not be aware of which of the two tokens are supported by exchanges where KNC is listed. If CEX.io had put up a notice about accepting KNCL only, then I'm sure this would've been avoided. Most times when I'm about to make a deposit or withdrawal and there's a note about depositing the right asset, I take time out to read them and haven't had such issues aside from the one I made with BNB 2-3 years ago.
newbie
Activity: 12
Merit: 10
Sad story to hear. I'd say Binance is to be blamed for not providing appropriate information that would help users to avoid issues like this. Not all traders are in 100% sync with project updates. Binance usually provides some info about stuffs like this, I wonder why they would miss it. I've had similar issues like this in the past but it was from another exchange to Binance. When I couldn't Binance support for a possible solution, they didn't put me off like CEx.io support team did to you. Instead they just asked a couple of questions to be sure I initiated the transfer and then went on to recover my tokens for me. My point here is that, if the CEX.io team is concerned about customers, they should be willing to do stuffs like this for them. It's not like they won't support KNC new tokens in the near future. If they support it, then there's a very good chance that they can recover it if they're willing to do it.

I mean depending how you look at it you could blame all 3 sides. Yeah normally they put up a warning on their deposit/widhrawal page. Idk what happened this time. Yeah binance was also every time very helpful when something similiar would happen. Really disapointing from CEX.IO that they just put me off like this. But lets see, i still have some hope.
legendary
Activity: 2324
Merit: 1258
Heisenberg
What a stupid and sad kind of response from the customer support, moreover after waiting for 5 day  Sad
I am hoping that this was just some amateur responding to you and CEX.IO already have a solution to helping you retrieve your funds. CEX.IO should do better than this. No loyal customer should be treated in such a manner especially if they didn't do any mistake.
legendary
Activity: 2772
Merit: 1028
Duelbits.com
Ouch, that is the worst thing that can happen to any trader, just do a small test transfer before sending all next time. For big funds, I usually triple-check all protocols, addresses, minimum/max limits, and daily withdrawal limits. As suggested above try to contact with exchange representative and hope the Cex.io team will help u to recover the funds. Manual intervention is required to solve this problem AFAIK.
hero member
Activity: 2212
Merit: 805
Top Crypto Casino
Sad story to hear. I'd say Binance is to be blamed for not providing appropriate information that would help users to avoid issues like this. Not all traders are in 100% sync with project updates. Binance usually provides some info about stuffs like this, I wonder why they would miss it. I've had similar issues like this in the past but it was from another exchange to Binance. When I couldn't Binance support for a possible solution, they didn't put me off like CEx.io support team did to you. Instead they just asked a couple of questions to be sure I initiated the transfer and then went on to recover my tokens for me. My point here is that, if the CEX.io team is concerned about customers, they should be willing to do stuffs like this for them. It's not like they won't support KNC new tokens in the near future. If they support it, then there's a very good chance that they can recover it if they're willing to do it.
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