Blockfi, a cryptocurrency lending platform, wrongly distributed a set of payments to a group of customers, who found deposits of up to 700 BTC in their accounts. While most weren’t able to withdraw these funds, in the confusion, other customers that applied for withdrawals are now being threatened with legal actions against them.
Blockfi Messes up Promo Payments
Blockfi, one of the most popular cryptocurrency lending and borrowing platforms in the cryptocurrency sphere, mistakenly overpaid bonuses to a group of customers, with some receiving up to 700 BTC in their accounts. According to reports, these payments were related to a stablecoin promotion Blockfi is running, that would give additional benefits to customers to maintain a determinate balance of dollars in their Blockfi Interest Accounts. The bonuses also included income from enrolling partners into the platform.
Seems that Blockfi issued stablecoins sums of payments, but in bitcoin, sending some users BTC instead of GUSD, the currency the mentioned promotion advertised. The issue first blew up in social media, where customers of the company gloated about the payments, while others were concerned about the financial stability of the platform after issuing these oversized bonuses. It seems that a part of these funds was indeed withdrawn from the platform.
But this problem has also affected customers that did not have intentions of taking advantage of this whole situation. This is the case exposed by a customer in Reddit. The client has been accused of wrongdoing, and Blockfi is allegedly threatening to pursue legal actions against him. However, this issue seems to have affected the whole operative capacity of the platform, with customers complaining about a whole slew of different issues in the subreddit of the company.
The Company Answers
After all of this happened, Blockfi addressed the fact by issuing a statement via Twitter, in which the company…