Bitcoin Forum

I have staked USDC on a centralized platform that has reinvested it into UST...
To be exact, a smart contract has converted the USDC to wrapped UST and staked it on Anchor.

Due the collapse of Terra Luna the funds were lost, the support of the platform said.

I think in order to make a claim on my insurance (yes, lucky I had one), I need to send the devalued tokens to the insurance as a proof.
Then the DAO has to vote whether the claim is valid or not.

I have kindly requested my worthless tokens back, but at the moment it seems like my support tickets are being ignored.

My questions:

Are the platform operators obliged to send me the worthless wrapped UST?
Does anybody know a lawyer in the blockchain field, just in case they will continue ignoring my tickets?
Let me know if you have any advise about the situation except "not your key not your cryptos"  ;)

Was the financial operation related to this financial instrument (USDC staking on this platform) described in TOS? Meaning, were you informed that this is how your USDC will be used and that you are taking the financial risk of it? if it was so-called "defi staking" and everything was described in the description, then I'm sorry to say but you should take responsibility. It was a risk/reward type of deal. You earn on luna not collapsing by taking a risk of luna collapsing.

If, on the other hand, you were not informed that you were exposed to UST and its possible collapse, then I think a lawyer will be useful here.

Probably they wont entertain the tickets especially if dozens of people are probably engage in the same scenario. They are gonna be tired of handling this when all the things already been fail. But I think they are obliged which should be on the platform TOS as mentioned by Tytanowy.

Im sorry to hear this kind of things. Hopefully you get your funds. They should compensate you with something at least since you also have an insurance for that.