Dear crypto community.
I am not looking for sympathy or understanding or comfort. I am grown man. I just wish to point out on things that are slowing down our crypto world, that are pushing back people from it. And this specific thing is nothing short of theft by one of known crypto exchanges in crypto space, Huobi.
Imagine for a second, that I go out and talk to people who are thinking about investing in crypto, and I tell them this story:
” You go and you put your hard earned modest amount of money to a crypto exchange. Lets say, 100 US Dollar. While depositing, you deposit 99 USD instead of 100 US Dollar. There is a line that says :”Minimum deposit amount: 100 US Dollar. It wont be credited less than 100 US Dollar”. Ok, you think to yourself. I need to send some more money in order to make a minimum deposit ammount of 100 US Dollar. And you send 50 USD more. Ok, now you have sent 154 USD and everything should work fine. But it doesn’t. You don’t see your money anywhere. Than you contact exchange support, politely explaining them that you just deposited 154 USD to them, when can you expect the balance to update so you can trade with that money?
And than, in year 2018, when crypto is trying to become mainstream, you get this answer: ” Your money is gone, because you didn’t deposit 100USD in one transaction”. They basicly tell you “Your money is gone, because you deposited too small amount”.
Is this the crypto-invest world with this policies, we wish people to join?
With such stuff going on, with this kind of crap that institutions that fuel crypto world ( crypto exchanges ) have.
All of above happened to me. Only it was not FIAT of course, but USDT.
I have accounts on 15 crypto exchanges. NEVER did an exchange took my money, because I deposited “to little”. Kraken has a similar policy with Ethereum ( at least it had few month ago). They had minimum Eth deposit, in order to be credited. But they do not steal money. After I sent second transaction ( after more than a week ) making my deposit enough for a minimum deposit, the balance updated and I was able to see my Ethereum and trade.
Why ? Because it is logical and reasonable. Imagine Kraken informing me ” We just took your Ethereum, because you deposited too small amount, thank you and please deposit more”.
I am calling all customers of Huobi that went through this theft to contact me. And I am publicly asking Huobi to tell me. Where did that money went? I know where it went, but I want them to tell me. I am calling them to change their USDT deposit policy or at least WARN people that their money in USDT will be LOST forever if they deposit too small amount!
And of course, I am not the only one with this story. They are stealing money for months in this way.