Topic: Would you transfer 700BTC back in their hands? (Read 441 times)

700 BTC is a lot of money for me, maybe I could be hysterical if I experienced this. But I will make the same decision as you, I choose to return
all of them. Because from the start it was not my right, so I only did what I had to do. But it shows their team is so unprofessional that they can
make mistakes of that big.

Actually, that is a very big amount and with that, I can live very happy forever without thinking about how frustrating searching for money.
however, I am sure that I will not live peacefully because I will feel like a thief forever.

So, If I am one of them, I will return the BTC with or without any commision. I believe in karma where I do something good, I will also get good things.

But, the team has also get a consequence and because that is a very big mistake.

They should act on it already instead of threatening. Are there receivers that have actually returned the mistakenly given reward?

I doubt that guy who's received 700 BTC will return it. It's a fortune for him and it's good until he retires and goes old.

That's an interesting case. I'm not sure the company has a legitimate right to those funds and can sue the customers. Do they?
Anyhow, I don't think they're using the right approach here. It was their mistake, I realize that the money is huge and now the company just fears that people will not return the money (and, judging from reddit, not many intend to, talking about creating false identities there ), but threatening is the worst option here. I think, instead, they should've apologized for the mistake and promised some kind of incentive (money, of course) for the return.

They're acting like total bastards right now, with no client-centricity here whatsoever.

Source: https://www.forbes.com/sites/nicholasgans/2021/05/19/blockfi-mistakenly-deposits-outsized-bitcoin-payments/?sh=2538e2591dd3

Who is going to accept in public that he won't return?  It is sad that they mistakenly sent it but good thing is it is their own customer so they must have good information about him.
700 BTC is big amount and they will do anything to get it back and they will definitely sue him if he refused to return.
If I were in his place, I would have definitely retuned it back Trust me.

For sure i will return it. I know how feels when i get hacked, although it is not hacking thing, but it is same, the BlockFi lose their money. But that is only personal opinion, i believe that we will get what we do. I mean if we do bad thing, we will lose a thing but in different way. I not want it happen to me.

Nah. I would leave to other country and withdrawing it in small pieces when i need to. It's their mistake, not mine so why should i care?

Not a chance in hell would I send it back, unless it was some nominal amount and wouldn’t be worth my headache.

I’d probably transfer ‘em all to a Chinese exchange, swap them for something else and head to the islands.

As far as I know the BlockFi company works with systems like crypto trading exchanges, the difference is that they offer loans to their customers, they also have accounts like banks in general, they have strong laws and customer identity.

BlockFi is also one of the companies protected by the New York Treasury, meaning, if something goes wrong like the case the OP mentioned, it might be BlockFi's fault, if that happens to me, I'll be happy to return it to BlockFi, it's useless taking 700Btc, at the end of the prison, maybe if returned the BlockFi company will give bonuses to those who are honest and get the trust of BlockFi.

Since it's not my money, I would return all of it (excluding the transaction fee, of course). It doesn't matter how much money I got if it's technically stealing. I don't understand how a company could make such a huge mistake, and threatening to sue people probably doesn't sound very encouraging because users surely can get away with this. As for rewarding people if they return the money, it's a nice incentive. In any case, the company's probably ruined because some people won't return the money, and even those who will are going to think of these people as amateurs that don't deserve to operate with finances of their users.

I would definitely return them but will deduct the transaction fees from the balance amount to ensure I am not financially affected. Money is a very strange thing. If you don't earn it, it will never stay with you. So I prefer an honest earning instead of getting rich overnight. So return is the only option I will choose.

BlockFi needs to seriously investigate this matter why it has happened. It's a big mistake which might affect the company as well as its depositors very badly.

I'd return it. I couldn't live calm knowing that all my money came from someone's mistake.

Considering each bitcoin worth more than 40K. 700btc is way too much money and I can easily tell you people will kill other people for only one single bitcoin or even less. But I know some other people who don't really care about money and they believe in humanity, so, they would return the money imminently. I was not in such situation and can't imagine myself in this situation. But, I would like to return the money because that's not my money.

But memes aside, I don't think I'll have any chance to win a case against them should I hire even the best lawyer to defend me and "my coins" for possible reclamation. Also, on most countries, the receiver wouldn't have any legal right to keep the money that was sent to them by mistake, hence it's just losing your own money in the process in false hopes that you will keep the coins for yourself.

I'll take the $500 - $1k reward, I guess. That's not much but it's still something.

Yes I aslo heard about this blunder by BlockFi but how can you be so careless afterall you are transferring 700+ btc to one account without any double check of address and then threatening them with legal suits? But according to the user the transaction was already reversed before he could move the funds off the platform.There was one transaction for 5 btc also deposited by mistake and that user was able to move the funds from BlockFi and they are carrying same mistake.They need to make some serious change in their working otherwise they will be losing more in legal suits and have to shut down their business.They can return the Bitcoins as it was an error but they need to be compensated for the same in respect to that.The funds belong to them and you do not need to own someone's else funds with cheating as in my opinion.

Well, starting with threatening their users makes them a**holes, but what they're doing is not illegal. I just checked the laws in my country (aswell as some other european country's), and the law seems pretty clear to me (eventough i'm not a lawyer): you can NOT keep money that has been credited to you by accident. Period.

Sure, they should have asked nicely and explained that the money belonged to them... That they accidentally sent it out, but that they need it for their business: it's theirs, they've worked for it, the receiver has little or no right to keep any of it.

I see many people saying they'll seek legal advice, but what will happen? They'll probably end up paying the lawyer AND sending the money back where it came from...
In life, you get confronted with rude people, bully's, a**holes,... The fact they're rude does not make them automatically wrong. I'd just give the money back and never, ever use them again because the way they immediately threaten with legal action without talking first... But it's their money, it does not belong to me (nor ethical, nor legal). I'd probably return everything, but i'd use a small portion of the funds as a transaction fee... I would not pay for the transaction fee out of my own pocket after a mail like that. Running to a lawyer would just be a nice extra for said lawyer, he'd be the only one that made a nice profit out of this situation.

Once again: i'm not a lawyer, this is not legal advice... I'm not affiliated with the mentioned website and reading the way they treat others i'll likely never use them...

If it was me since they already threatened me I would ask for legal advice.
It isn't a joke and so does the money involved it was their mistake they should have talk nicely.
I would send it back to them since I don't want to drag my family 's life in danger but they shouldn't threatened the receiver.

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i understand that 700 btc is a huge money but threatening costumer is also unprofesional .
 they can talk calmly and explain what happen because the costumers mood can change . if this happened to me i will first verify if the message came from the legit company and i will not hesitate to return the btc because honestly im a good guy .
 i did even help random people even if im not rich . i will appreciate it if they will send back some btc as a form of reward for my kindness but if not its okay . god will have better plans for me ahead

The fact that it was credited to me by mistake just shows its their negligence for not double checking before making a transaction. However, still, its not mine thus its just right to return it even its their mistake. A reward would be appreciated if they do so, but if not then still no problem. Its not my hard-earned money anyway and I believe its nice to always choose what's right.