Would you transfer 700BTC back in their hands? - page 2.

adzino

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Quote from: soliton on May 19, 2021, 07:00:23 AM

Recently some BlockFi customers have received letters indicating they have been mistakenly credited bitcoins offered by service as promo reward. Those customers are threatened to be sued if they don't take them back to BlockFi. One of their customers allegedly received over 700 BTC. What would you do in response?

https://www.reddit.com/r/ethtrader/comments/nfr3dc/apparently_blockfi_goofed_up_and_started_paying/
-snip-

Shit. That's fucked up haha. How did they fuck up this bad? Who is responsible for this? Whoever is, he/she is literally crying the fuck out. How could they mistaken a stable coin for BTC? Anyway, I doubt they can runaway. If the exchange made their customers go through KYC, the can be tracked. What's more funny is that people were able to withdraw it from their exchange. With 700 BTC, anyone can change their identity with just 2 or 3 BTC and hide forever. Live on a developing country. They won't find you there.

Alucard1

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IF this is true and they have sent 700 BTC to the wrong person then I don't think that they can still turn it back to them, I don't think that someone will give it back to them without any assurance that he/she may receive a reward from turning it back and besides the transaction in this crypto world is irreversible and the person who have received this huge amount of money will keep being anonymous. It is their fault, they are about to transfer a huge amount of money then why dont even take care of transferring it, they should always double-check before confirming the transactions.

electronicash

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what would be the ground for the lawsuit in this case?

this is the best feature of crypto is that it's irreversible. so if you are not careful and currency is sent, there is nothing else to do but let go. blockfi pleaded for its return. can't blame the user for not returning them, it's a chance of a lifetime, and with 700BTC anyone with that amount today can live comfortably just about anywhere. hope to see an update if it's returned.

pooya87

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What I would do (as someone who hasn't received the money by mistake) is that I would remember this mess and would stay away from Blockfi and recommend others to do the same too because they proved that they are incompetent. If they are making a mistake with $30-$35 million what kind of mistake are they going to make with smaller amounts like $100?!

Quote from: soliton on May 19, 2021, 07:15:02 AM

but some users gave them a LOL in return. Read full comments on reddit. I wonder how much a good lawyer costs to protect you if the case goes to trial.

Good luck to Blockfi proving the payment wasn't the promo to that user receiving it

I wouldn't give it back for anything less than a million if I were the receiver.

meanwords

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I'd just send the money back. It's not worth keeping those money since they legally own those. Yes, even if you fight for those BTC, that company will still win since they can claim that it's a mistake, especially that it's pretty obvious that it is considering the amount of money involve.

Quote from: arwin100 on May 19, 2021, 08:07:30 AM

so what's the case they will file to the one who receive the amount? Its not the receivers fault to receive that and receiving that threats coming from them is so annoying maybe I will make their life hard first before I return the amount since its really insulting to receive a harsh message like that.

The problem here is that those users withdrawed the funds immediately so that forced BlockFi to email them and send those threats. If they haven't done that, then I think those threats wouldn't be sent in the first place.

FinneysTrueVision

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I would keep the BTC and take my chances in a courtroom. The worst that can happen would be that you have to return the money. There is legal precedence in the United States where Citibank accidentally transferred $900 million instead of $8 million to a group of lenders and a judge decided that they did not have to give the money back.

Darker45

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There is no point keeping what is not yours, much less arguing that the money wrongfully sent to your wallet is already yours. Secondly, this is not a small amount. You'd be tracked down and sued. You might even end up in prison if you get caught. It is best to just return the money, avoid any unnecessary legal battle against a wealthy company, and probably receive a reward.

On the other hand, have we not heard countless of times of stories where clients end up sending a coin through the wrong network but were not extended help to by the platforms they're using?

malevolent

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Is it even possible to use their service and withdraw any meaningful amounts of money without undergoing KYC verification? Because then unless their users are, say, in a country like Russia, Venezuela or in one of the less developed African countries, it's probably a matter of time before they get caught.

SFR10

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Quote from: soliton on May 19, 2021, 07:00:23 AM

Those customers are threatened to be sued if they don't take them back to BlockFi.

Does anyone know where I could find the email they sent to their customers?
^{- I'm interested in seeing the extent of those threats...}

Quote from: soliton on May 19, 2021, 07:00:23 AM

One of their customers allegedly received over 700 BTC. What would you do in response?

I'll return it but I'd also request them to teach that employee a lot of lessons ^{[e.g. Lesson #1: Basics - Always double/triple check]} if they haven't fired him/her yet.
^{- If volatility wasn't an issue, I would've forced them to solve your crossword puzzles first ^{[all of them]}}

mocacinno

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I'm always supprised to see how many people think they legally own those funds... Both in the bitcoin world as in the FIAT world...
If i have 20.000€ in my bank account, and i have to pay a contractor, but i mistakingly send my hard-earned money to my car dealership instead, would you think it fair if the car dealer said: "this money is mine now".... Still, a lot of people get sent funds by mistake and think it's just an early christmas present dropped from the sky: it is not, somebody had to work long and hard for that money (most of the time), they mistakingly sent it to you... Keeping it simply feels wrong.

Eventough i'm not a lawyer, my dwindeling sense of ethics, fairness and honesty tells me that it's not because i mistakingly send the money to the wrong account, that it legally belongs to that account owner...

Offcourse, since transactions are irreversible, a lot of people use pseudonyms (or plain fake names), and they likely sent funds to users all over the globe... So i doubt they'll ever get all their money back, even if it's legally theirs...

arwin100

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Quote from: soliton on May 19, 2021, 07:00:23 AM

Recently some BlockFi customers have received letters indicating they have been mistakenly credited bitcoins offered by service as promo reward. Those customers are threatened to be sued if they don't take them back to BlockFi. One of their customers allegedly received over 700 BTC. What would you do in response?

https://www.reddit.com/r/ethtrader/comments/nfr3dc/apparently_blockfi_goofed_up_and_started_paying/

so what's the case they will file to the one who receive the amount? Its not the receivers fault to receive that and receiving that threats coming from them is so annoying maybe I will make their life hard first before I return the amount since its really insulting to receive a harsh message like that.

Maybe they should change their approach since provably it can make the receivers mind think nicely.

GeorgeJohn

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Quote from: soliton on May 19, 2021, 07:00:23 AM

Recently some BlockFi customers have received letters indicating they have been mistakenly credited bitcoins offered by service as promo reward. Those customers are threatened to be sued if they don't take them back to BlockFi. One of their customers allegedly received over 700 BTC. What would you do in response?

Assuming I'm the one in particular i will return it and build my reputation without even them reminding me of anything return, so with that they will be a lot of trust, confidence to whom ever that wants to transact with me.

So in future time that attitude formed will be speaking a good of me without looking for further evidence of trust worthy, and many people within the resignation, will emulate the full step's of me with confidence as a sincerity person.

I don't really know for other person's mindset if it happened to be them, but in another side of it, if the company fails to accept their mistake and keep on threatening that the matter will go to court because of delay in returning the btc, then i have no option to handle over the coin for them to avoid bad image, and good reputation will follow me.

Mbitr

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Threaten them back . I’m sure they would love all their licensing/governing bodies to hear about their amateurish business dealings:)

Source https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1873137

Lorence.xD

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Quote from: virtualdn on May 19, 2021, 07:01:39 AM

I'd return them back but I think it would be nice for the ones who made the mistake to give them 10%.

That would be the most sensible thing to do but knowing human behavior and myself, I don't think that I will be able to just settle with a 10% for their mistake, I would probably have all those bitcoin mixed and split into different addresses.

butcher_spam

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Quote from: Lucius on May 19, 2021, 07:15:39 AM

If this is true, then they are really real amateurs - how else to explain that they replaced some stable coins with BTC and thus rewarded their users? Instead of threatening lawsuits, it would really be better if they offered honest users, say, 10% if they return the rest - some would be very happy to do so, because it is a win-win situation for both parties.

Those who want to take a risk and not return BTC have the option to disappear with the money or face a possible lawsuit since they have passed KYC. Judging by the comments from Reddit, most would still keep BTC - but I still think people are strong on words, and pretty weak on deeds when needed.

I would offer them a refund right away if they would only grant me 5% as a reward for being an honest client Wink

I agree with you. First of all, it is necessary to show yourself from the human side. In any situation, no matter what it is, you have to be human.

Trixoempire

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threatened to be sued >>> means they are not sued yet.

I would take all the funds before any court order that diminish my ability to move the country.

I will cash out my 700 btc in cash slowly in some island and live their for the rest of my life.

If they give me reward 500k+ I would give them it back

rodskee

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personally? i will send some but not at all, they were lucky that i consider sending them at least 60% of the total amount because how can they Sue me? what is the case/ remember that crypto transfer is irreversible so at any chance i can hold the funds even if they put me in jail ..
and i can stand by that if i want too for the sake of my family's good living, they should not send the amount stupidly and now they are threating me for their own mistakes.

Lucius

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If this is true, then they are really real amateurs - how else to explain that they replaced some stable coins with BTC and thus rewarded their users? Instead of threatening lawsuits, it would really be better if they offered honest users, say, 10% if they return the rest - some would be very happy to do so, because it is a win-win situation for both parties.

Those who want to take a risk and not return BTC have the option to disappear with the money or face a possible lawsuit since they have passed KYC. Judging by the comments from Reddit, most would still keep BTC - but I still think people are strong on words, and pretty weak on deeds when needed.

I would offer them a refund right away if they would only grant me 5% as a reward for being an honest client Wink

soliton

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___________/\_______

Quote from: virtualdn on May 19, 2021, 07:01:39 AM

I'd return them back but I think it would be nice for the ones who made the mistake to give them 10%.

Reportedly they offer "mass rewards for the return of funds ($500-$1k)" .

https://twitter.com/JamesLawblock/status/1394846363695951872

but some users gave them a LOL in return. Read full comments on reddit. I wonder how much a good lawyer costs to protect you if the case goes to trial.

virtualdn

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I'd return them back but I think it would be nice for the ones who made the mistake to give them 10%.

Topic: Would you transfer 700BTC back in their hands? - page 2. (Read 366 times)