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BlockFi mistakenly credits users with too much Bitcoin in promo payout

May 19, 2021. Summarized by summa-bot.

Compression ratio: 32.6%. 1 min read.

BlockFi is trying to rectify a series of mistaken high-value Bitcoin payouts to users who participated in a promotional scheme this year.

One BlockFi user allegedly received a staggering 701. 4 BTC on May 14.

Under the terms of the original giveaway, BlockFi had offered Bitcoin rewards for clients trading a set volume in U. S. dollars between March 18 and 31.

With rewards due to be credited to accounts by May 31, BlockFi warned users already on May 14:

One user has reportedly posted a photograph of an email allegedly from BlockFi notifying him/her that “failure to return the erroneously received assets by 5. 00 PM EDT today (May 18th, 2021) may constitute a crime and will result in BlockFi taking legal action. ” The company has also offered clients a $500 payout in Gemini Dollars (GUSD) as compensation for “any trouble this may have caused. ” 

Another Reddit user in the r/blockfi thread has alleged that “2 days after their blunder, I made a withdrawal of USDC which I had deposited a month earlier.

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by summa-bot

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