Crypto management platform BlockFi sent users large sums in Bitcoin by mistake. The payments were thought to be done in terms of a promotion that rewarded users with bonuses in USD stablecoins. The promotional period lasted from March 18 to 31 and the rewards were to be transferred to people's accounts by the end of this month.
Something went wrong apparently and the company sent large amounts of Bitcoin as a reward. There were clients that got more than 700 units (valued at about $28 M at the present rate).Some clients who participated in the March trading promotion may see an inaccurate bonus payment displayed in their transaction history. Our team is working on a fix and the proper amounts will be reflected shortly.
— BlockFi (@BlockFi) May 15, 2021
The company tries to get back the funds. However, some users seem not to get the message or withdrew the sum before clarifying the situation. BlockFi may start legal actions against them as reported by the clients.
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In those circumstances, other users faced issues while trading. The company's representative said that less than 100 customers received funds by mistake and that withdrawals and trading operations are resumed. BlockFi has taken measures to be certain the situation won't repeat itself in the future.