A cryptocurrency trader is furious after receiving a commission of $954,135 from centralized FTX exchange. The trader claims that the commission was charged for an incorrect deposit, which, in their opinion, was due to the exchange’s fault.
On October 6, the Rekt blog posted screenshots of the correspondence showing that the problems began when, in late September, a customer deposited about $6.3 million in USDP, the DeFi platform’s Unity Protocol Coin stack token.
Unfortunately, the Paxos stablecoin was also renamed USDP and the exchange changed its PAX index to USDP at the end of August. Thus, it appears that the user deposited $6.3 million in unsupported USDP tokens to the exchange address of the Paxos stablecoin.
FTX compensated the user for the erroneous deposit by returning about $5.4 million in stacked coins, but withheld a 15% commission. A disgruntled user replied:
“I deducted over a million dollars from my first deposit. This does not correspond to an invalid title or chain approach. I didn’t put the US dollars on the FTX exchange on purpose, I was scammed. I want to complain.”
Rekt stated that FTX does not comply with their terms and conditions, which may charge a commission of up to 5% in such circumstances.
However, upon examination of Cointelegraph, the terms and conditions currently state that a minimum of 5% can be charged if the exchange must retrieve deposits to the wrong addresses.
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Rekt said that it confirmed the blockchain deposit and contacted FTX for comment but received no response. Ask the stock exchange to fix the problem.
“With the growing popularity of decentralized exchanges, trust has become the most important feature that CEX has to offer. In this case, FTX broke that trust and now they must take action to fix it.”
The claims were also posted on the official FTX affiliate website, but were removed late last month. Respondent to Rekt’s tweet stated that he had posted a blog on the FTX Telegram group and was immediately banned.
Cointelegraph has reached out to FTX for comment. There was no answer at the time of writing.