Block Fi, the American cryptocurrency lending application, made an incredible mistake. The company sent the rewards in BTC, which it was supposed to send to some users in dollars.
Block Fi handed out some of the promotional prizes today. It was stated that the awards in question are for the month of March and include customers who have traded in a certain volume. However, due to an error made during this transaction, the rewards that had to be sent in US dollars were sent in BTC. According to social media posts, an investor who should have received $ 700 received a 700 BTC reward.
BlockFi fucked up by paying promo rewards with BTC instead of stablecoins and they’re now threatening users 🤣 pic.twitter.com/JVHMP21lXq
– Psychedelic El ₿arto ☂️ (@PsychedelicBart) May 19, 2021
The current value of 700 BTC is about $ 26.6 million.
Although the situation was noticed and corrected by Block Fi, it was stated that some investors acted very quickly and attracted BTC to their wallets.
Block Fi CEO Zac Prince spoke to The Block and said:
“Our risk is less than 200 BTC right now. The amount of withdrawals made after incorrect payments is not more than this. There are fewer than 100 customers and a few BTC. Already more than half of these customers have returned their unwillingly withdrawn funds. “
It was stated that Prince was afraid to give clear figures.
It is stated that Block Fi can take legal action against customers who do not return incorrectly deposited funds.