Bitcoin Forum

Usually, I stay away from shady exchanges, but this time I wanted to buy into a promising project and YoBit seemed like the least questionable option. I tried a test ETH deposit, and then went ahead and deposited from multiple exchanges. Unfortunately, it turns out one of these exchanges made withdrawals through contract execution (I didn't know). YoBit has a warning not to deposit contract, so you can say it's my fault. In fact, that's basically what they replied (to their credit, the reply was quick), that they can't do contract deposits and I should have read the warning. Fair enough, but if they cannot offer a service, should they not refund the money?

The ETH in question has been moved to their YoBit account. They have the money, they can refund it manually or credit it manually. I've been in the crypto game and I know we win some, we lose some, so I'm not complaining. I have assumed I've lost a lot of money, but want to do my best to gain my money back. A Google search (and also here at BCT) tells me that others have faced this issue, and it's an easy mistake to make. So, I'm asking, what did you do about it? What recourse do we have?

When they had warnings that don't do deposit from contracts then they are not going to refund any money even if they can do,because that is their terms and you agreed that so you don't have to ask for any money since its your fault.I am not sure Yobit is still active or not because already lot of people faced many issues from that site.

They should refund, however it takes some time. I had a similar situation when using Changenow when I did not pay attention to the warning, and they returned the funds to me a few hours. I believe that Yobit must return your funds, so you should contact their support. If they do not do it, it will be a signal that in this way they are trying to appropriate your funds.

You are using an new exchange so their customer support will be high and they will assist you in all the forms to bring trust on you but Yobit is not really new and it already lost their reputation I think so they won't care about any accusations against them.But nothing here to accuse when their terms is clear here.

I can only think to contact support and ask refund if possible, but yobit support is bad. Sometime support don't answer for several days(based on what i read).
Anyway, how much did you deposit? I hope its not a lot because the chance to get it back is low.

I guess your only option for now is to contact Yobit and tell them the issue. I don't want to put your hopes down, but knowing Yobit's past history, might be difficult or at least it make take months if ever they're going to refund your money.

Just keep trying dude, we don't know maybe Yobit is trying to improved their customer satisfaction and you might be lucky, best of luck!!!

Ideally, they should refund it, but because you're also at fault here I doubt they will cooperate that much (it's Yobit we're talking about here). How much you've deposited here? If it's not that much, maybe letting it go is a better option. Use your time wisely, Yobit is famous for its lack of support for some users.

Perhaps you are right, but I don’t think they did it just to gain trust. I have seen a lot of good reviews about their support, and I think these are really professionals. I hope that next time, if I have a problem, they will solve it as quickly. As for YoBit, I believe that they must return funds in any case, although the OP fault is obvious. This is not so difficult to do, and OP could offer them rewards for the extra work.

I was making a large deposit in parts, the one that wasn't credited was 18 ETH, unfortunately. If it was a small amount, I would have moved on.

Thanks for the comments, everyone. It's been 2 weeks now, and I'm in contact with them on and off. I can say that at least they are communicating, but progress is very slow. There's some hope they'll refund, but not counting on anything. Lesson learned - I'll stick to the established, customer friendly crypto exchanges. I don't mind much, because this is the first time in 5 years of crypto trading I've lost any tokens, and I'm motivated to make it the last.

By the way, they absolutely should refund. Legally, you are obliged to refund payments if you are unable to tender services. It's not like the ETH is lost. It was clearly diverted to their ETH wallet, and they clearly have access to it. I'm more than happy to pay a fee / fine of course because I fully accept it was my fault. Sadly, with these overseas crypto exchanges, legal recourse is basically out of the question. If anyone has any suggestions otherwise, I'd greatly appreciate it.

I read all the messages here and I think you should not despair. YoBit can really return ETH, but you have to understand that it’s not so easy and they will do it as a sign of goodwill. You must remind them of this, and if they refuse, you can create an accusation in this section of the forum: https://bitcointalk.org/index.php?board=83.0 By the way, offering them a reward is a really good idea.

If that's the last resort that you can do, better to give them or allow them to take the fees from you, but they are obliged to bring your money back,
as what I understand you successfully send your ETH to their wallet and there's no issue about it, so refunding should not be an issue but delaying
tactics I guess, keep trying as it is yobit obligation to pay you back.

Thanks, I'll keep at it. It's not really much effort sending them a message every week or so. 99% it's delaying tactics and they have no intention in refunding, but so far they have showed some interest in helping.

Btw, there are so many such posts about Yobit in the Scam Accusations forum that I don't think they care about reputation at all. I knew about this but thought I could quickly get in, buy what I wanted and get out, and it'd be OK. (And for the other deposits that worked, I did exactly that and it was OK) Lesson learned.

Update: Coming in 2 months now, pretty much given up. Like I said before, lesson learned. Never again at a shady exchagne.