‘I was cautious and followed directions closely, but I still lost my crypto

The trading cryptocurrency was just a little fun for Tzona Raikov, but lost $ 1,500 in an administrative error has given serious concerns about his treatment by the industry.

The oil engineer has held a revolution account for several years – using its app for shared accounts with friends after going out for dinner or drink. They would pay each other using a traditional currency, like a pound of sterling or US dollar.

But after the video company for e-money, she advertises his cryptocurnancy services, he decided to try.

What Tzoni thought to be the immediate transfer of coins of cryptocurrent coins was left by Bulgaria drawn from pocket.

His experience expires Some of the frustrations of people used cryptocurrency If many customer protection that submitted standard transactions over the Internet, some are authorized by law, not apply.

“When they treat it, it makes you feel like you can’t do anything,” he said he said the news of the BBC. “It’s like you’re powerless.”

While The criptocurrencic market dominates Bitcoin, There are many other digital currencies, including USDC – which Tzoni has already become amasized on a special crypto account.

His frustrations began in February when she decided to transfer some of his USDC coins to his revolution account.

As a precaution – which revolution suggests to work – the first sent 10 coins, worth $ 10. It was success and funds were credited to his revolution account.

The days later he tried to make a higher transfer of what he thought was $ 1,500. The transfer is complete, but, this time the funds are not credited with His account.

Tzoni says the problem occurred because revolute deposit instructions are unclear.

When you switch the cryptocurrency from one account to another, you must select the network to send it through in the image of the root service to use the plot when sending the plot.

Instructions for the REVOLUT deposit say you transfer the USER to it, you must use a network called a polygon. In his first, successful, deposit, Tzoni selected one called “Polygon POS”.

In the second deposit, when he tried to transfer 1,500 USDC, he chose another network – “Rewind”.

He thought it would work so well, but it’s said that the coins are turned into the USDC.e – a different cryptocurca.

That is what revolution was received. The company does not manage the USDC.E coins.

After video his revolution account was not credited with 1,500 coins, Tzoni contacted the Revolute support team.

In the messages they see the BBC News, he told him that this question seemed to be a “specific type of polygon network, which led to conversion”.

It was said in the second: “The application currently specifies the” polygon “without the difference between standard and bridging options. I will record your feedback on future improvements.”

Tzoni thinks whether the revolute deposit instructions were more precise, its problem would be avoided.

When the BBC News approaches this case, the revolution gave a different answer.

The company said the problem is not because Tzoni used the wrong network of polygons – claimed to turn its coins in USDC.e.

The failure of the deposit was “not because the network itself” turned “token,” said, without explanation why her support team proposed tzony that it was.

The revolution told us that the deposit eventually failed because the USDC.e was wrought forged wrought with not supported the company’s technology.

It is said, “Like standard industrial practice due to significant technical challenges involved in support of any combination of tokens and chains, the recovery of these unsupported funds is not seated within the revolution’s scale.”

This means that $ 1,500 is a coin are not credited to the tzona account or returned to him.

On Tzonie’s mind, this is not acceptable treatment Company size and reputation Revolute, which handles normal bank deposits, as well as cryptocurrency, supplies and goods.

The revolution says he has 10 million users in the UK, while last year has been approved by a temporary banking license, and together in a way of becoming fully set in the UK.

When you use a high street bank, the wrong transfer traditional currency would usually be solved with the money that returns to the customer.

This was founded in 2014. in a voluntary code of practice that most of the United Kingdom banks reached. There is no such equivalent in the cryptocurnancy industry.

After contacting the revolution several times in recent weeks, Tzoni was told that coins are effectively lost.

“They wait for me to bore and give up, to accept money disappeared. But I will not,” Tzona said, pointing to coins in the revolate system. “It’s funny that I can behave like this.”

Although the loss of cryptocurrija tzony is significant for him, the sum is tiny compared to the size of the industry, which aligned abruptly in the last 18 months.

The global market reached 3.9 TN, last December, after the re-election of Donald Trump. Since then, it has fallen by 1.1 TN, according to Connecting Web site.

Also, government policies are in the United States and other countries Change to favor industry cryptocurrency, Although he suffered several scandals.

FTKS, one of the world’s largest companies, has bankrupted 2022. years. Fried I Bankman, her executive director, was sentenced to 25 years in prison Last year for customer’s billions of dollars dollars.

Investigators also found FTX used QuickBooks, popular accounting software intended for individuals and small businesses, to manage money.

John Rai III, the lawyer was in charge of returning FTX for fraud, told the bankruptcy court: “I never saw in my career so full failure of corporate controls and so completely lacking reliable financial information.”

He later said Congredited hearing: “Nothing against QuickBook. It’s a very nice tool, just not for a more plush company.”

A few months ago Bibit, the second largest exchange of cryptocurrency in the world by some estimates, was deceived $ 1.5 billion coins from hackers thought she was working for North Korea.

The firm used secure, free digital storage software popularly in individuals who want to keep cryptocurstility on their own devices, as part of their business.

After theft, the CEO of Bibita said they “were supposed to be upgraded and moved away from a safe” earlier.

One of the problems with cryptocurstical companies, says the PROF Mark button, which explores cyber crime, whether they can grow very quickly, which means that there are always in the accounting and security challenges of managing so much money.

“For me, it illustrates that if we will be serious about cryptocurries in the future … there must be some kind of regulation.”

In case of soybean, it may be easier to return his cryptocurca or compensation whether there are laws in the statement that companies have to do if a coin is sent.

Senior industry standards also could prevent it from making such a transaction in the first place.

Mikhailo Tiutin is a major technology officer in Amlbot, analyzing how risky cryptocurrency transactions are.

Their service lasts checks similar to those supported by banks, where the transfer details are confirmed, such as account holder, code sorting and account number, are verified.

He says cryptocurrency is sure enough that the average person uses, but that they should be careful about which products and services choose. He says he also lost cryptocurstity after assigning an administrative error.

“You have to do your research,” he told us. “Success and losses are at the end of your risk.”