Topic: Lost 17k on CEX.IO *solved, CEX.IO paid (Read 253 times)

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.
Another Salute for your company and Team , Please continue that way and you will earn support and respect to the whole community .
you deserve the patience and Understanding.. Be good always.

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!

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:



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

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”.

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.

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.

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.

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.

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!

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

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:



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

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.




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.

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.

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.