I still give Kudos to Binance Exchange and respect them a lot. Despite being hacked with over 7000 BTC, they took the responsibility and no user's fund was lost. Reverse was the case with HotBit Exchange struggling to deal with $30 worth of token from their incapability. The capital might be small, but if it is $30,000 that is how is going to get lost without any remorse. If anyone is still using their Exchange to trade, you need to be extra careful because you can lose your fund cheaply to this shady exchange. Below is what transpired and kindly digest and take necessary caution if anybody deem feet.
I have 10,000 TRAT token than I want to send to their exchange to trade for almost a month but deposit was disabled as requested by the project team as they want to update their contract address. You can only trade for almost a month and withdrawal and deposit were disabled. Just about two days ago, this address was re-opened and I logged to my account, generated a TRAT wallet address and send 10,000 TRAT token to the address. After waited for 24hrs with my wallet still showing zero token, I contacted their support and this is our conversations.
and here is there response
The conversation continues as I replied them as follows:
Dear Support,
I did not generated this address by myself. I got this address by clicking on the FUND menu, then select deposit and withdrawal, before clicking on Deposits from the TRAT. as shown below. If there is any update in the contract address, I think users should be denied deposit until the update is completed.
In responding to this
Hi,
we have updated the new contract address according to the request of the project party.
You still deposit the old trat to your hotbit account
please see here
https://help.hotbit.io/hc/en-us/articles/360035156093- This was updated 9hrs ago as shown in the screenshot and I have transferred to the address generated from your platform over 24hrs ago as shown from the Etherscan screenshot provided afterward. Besides, what does this update have to do with the transfer as I just click on deposit and send to the wallet address generated from your platform as shown above? There is no indication of New or old address and as a novice, I don't know what contract address is. I generated an address from your exchange and send, either old or new, it is the responsibility of the exchange to handle or warn about this or suspend any form of transaction to the token contract address until the update is completed.
For clarity sake, this screenshot below shows the time I sent the 10,000 TRAT token to the address generated from your platform and you updated 9hrs ago after the transaction has taken place. What is the concern of users about contract address if I may ask? If there is an update of the contract address of any project, how possible is deposit enabled for users to generate wallet address? Please, I think HotBit should stand and take responsibility to credit the 10000 TRAT to my account as it is clear that this mistake is not from the user of your exchange as the necessary tools to prevent this lies only in the hand of HotBit Exchange.
I just have to share this to the community that any exchange that cannot take responsibility most especially when the mistake is within their team members does not worth keeping your hard earn capital there, although, the money might be fraction but if it is huge, the same story will occur.