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Coinbase User Loses Over 2 Million Naira in Error Deposit.

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Last updated on September 22nd, 2020 at 10:07 am

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Coinbase user loses $4,500 USDTether in error deposit.

A Nigerian Cryptopreneur took to Twitter to explain an incident between his beneficiary and Coinbase cryptocurrency exchange.

Jio, narrates how he mistakenly sent $4500 USDT instead of USDC to a Coinbase ERC20 wallet on the 4th of September.

Realising his mistake, he resent the value again in USDC. The beneficiary has been writing to Coinbase Support since then to retrieve my USDT but it was futile.

Coinbase claims that the deposit which went through into the exchange though it was an error deposit, is not a refund possible for the company to execute.

The US based trading platform claims that it’s within the powers of Tether, the issuing company, to process a refund and not Coinbase, consequently closing the case.

Many Influencers are already on Twitter clamouring for a refund since it’s something other exchanges do refund considering that the deposit went through it’s centralized exchange platform. 

We will keep you updated once a successful refund happens. We are looking forward to it.

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