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Some users received as many as 700 Bitcoin due to a mishandled promo payout

Some users received as many as 700 Bitcoin due to a mishandled promo payout

Crypto promotional schemes have become an old hat in the industry. Moreover, many businesses are trying to secure customer loyalty through a range of perks and mini handouts.


Mistakenly Credited


BlockFi mistakenly credited its users with too much Bitcoin in a promotional offer. However, just under a hundred BlockFi users are reported to be affected.


Original Giveaway

Moreover, one of the users allegedly received a staggering 701.4 BTC on May 14. According to the original giveaway, BlockFi had also offered Bitcoin rewards for the clients trading a set volume in US dollars between March 18 and 31.


Inaccurate Bonus

The Company credited rewards to the accounts by May 31, but BlockFi warned users already on May 14. As a result, some clients who participated in the March trading promotion may have seen an inaccurate bonus payment displayed in their transaction history.


Team Working

However, the Company’s team is working on a fix, and the proper amount will be reflected in accounts shortly. According to the company representative, just a hundred clients are thought to be affected.


Threatening Tone

The Company moreover uses an allegedly threatening tone to the clients who do not comply instantly with directives to return the funds. However, this news has already erupted on social media.


Social Media


One of the users has reportedly posted a photograph of an email from BlockFi allegedly notifying him/her on social media. Moreover, the Company also offered clients a $500 payout in Gemini dollars. This is given as compensation for the troubles this may have caused.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.