Lost 17k on CEX.IO *solved, CEX.IO paid

[Beparanf]

OP, VERY unacceptable. I can understand if they won’t accomodate a customer with such a problem for $100, but $17,000? They should have the resources to run a node for the upgraded network, and return the coins.

It’s a hard lesson, always do a “test transaction” before sending the whole amount.

Looking at the case you are experiencing, there should be a preview of the status of the address you are going to. Or is there no official notification in the wallet you are going to? If it's like this then I think CEX.io is at fault. If there is already an announcement and you insist on sending it then it is purely your fault. Several times I moved my assets to do a trial with a small nominal, so everything was not straightforward. Until now it's safe.

Guys thx for the input but i already explained why i didnt made a test transaction. Also there was no warning or something similiar as i said in my initial post.

The exchange should put a warning message since they must be aware on the changes of all the coin they list. Its there responsibility to warn every user in all possible way. Base on the statement that they send to you. They are not yet upgrading there KCN wallet that will support the new version. I believe KCN devs can help you to figure out how to solve this then relay it on CEX.io support. It seems that the exchange devs is not that knowledgeable on Kyber code that's why they are making this kind of excuse to make your issue close shortly.

[pawanjain]

I would have had a mini heart attack if that would have happened to me. But yeah it's completely unacceptable for such a lame response from them.
You should keep trying until your money is refunded to your wallet whether it be the new version or the old one.
I think even binance should have mentioned it on their withdrawal page about the network change.
Both Binance and CEX are at fault on this one.

[Wind_FURY]

OP, VERY unacceptable. I can understand if they won’t accomodate a customer with such a problem for $100, but $17,000? They should have the resources to run a node for the upgraded network, and return the coins.

It’s a hard lesson, always do a “test transaction” before sending the whole amount.

Looking at the case you are experiencing, there should be a preview of the status of the address you are going to. Or is there no official notification in the wallet you are going to? If it's like this then I think CEX.io is at fault. If there is already an announcement and you insist on sending it then it is purely your fault. Several times I moved my assets to do a trial with a small nominal, so everything was not straightforward. Until now it's safe.

Guys thx for the input but i already explained why i didnt made a test transaction. Also there was no warning or something similiar as i said in my initial post.

You can’t always be “too sure”. I’m sorry, but I will say this again, you learned a hard and expensive lesson. Everyone and everything dealing with cryptocurrencies should always go by, “Don’t trust, ALWAYS verify”.

[DenzelDon]

OP, VERY unacceptable. I can understand if they won’t accomodate a customer with such a problem for $100, but $17,000? They should have the resources to run a node for the upgraded network, and return the coins.

It’s a hard lesson, always do a “test transaction” before sending the whole amount.

Looking at the case you are experiencing, there should be a preview of the status of the address you are going to. Or is there no official notification in the wallet you are going to? If it's like this then I think CEX.io is at fault. If there is already an announcement and you insist on sending it then it is purely your fault. Several times I moved my assets to do a trial with a small nominal, so everything was not straightforward. Until now it's safe.

Guys thx for the input but i already explained why i didnt made a test transaction. Also there was no warning or something similiar as i said in my initial post.

You can’t always be “too sure”. I’m sorry, but I will say this again, you learned a hard and expensive lesson. Everyone and everything dealing with cryptocurrencies should always go by, “Don’t trust, ALWAYS verify”.

Basically what you are saying is that me and thousand other day traders should quit day trading because there is a one out of hundred thousand chance that something like this could happen. I am not going to send for every transaction a test transaction when it worked few days/weeks before several times without any problems, this would just be insane, there is absolute no reason to assume that it wont work suddenly, also i am aware that there is usually some sort of warning when there is a upgrade! I think this is just a wrong mentality to search the mistake at the consumer end in this very clear case. What standards are we setting when we do that?!

[CEX]

Hello

@cex

I made a big transfer of KNC Token from Binance to CEX.IO. Unfortanely i did not know that Kyber
network made a upgrade and that they have now two different protocols. CEX.IO still supports the older protocol and Binance the newer one and also the older one. But they didnt inform on their deposit/withdraw page about that. KNC recommended that exchanges name the older one KNCL and the newer network keeps the name KNC. So i couldnt know that there was a upgrade in the first place! I am not going to check every time the site of the coin, especially not when it worked before that  just fine.

Recommendation + explanation of KNC:
https://blog.kyber.network/knc-token-migration-guide-fda08bfe62c2

So i contacted support on CEX.IO and they only did write me 5 days after my initial response. They did write this:

Hello D----

We have checked the information about your KNC deposit.

Please, be informed that CEX.IO does not support Kyber Network Crystal v2.

We would be more than happy to credit the mentioned deposit to your CEX.IO account or to send the amount of 9,435.551 KNC via Kyber Network Crystal v2 back to the sending wallet. However, as you may know, in order to perform both these actions, one will need necessary instruments. And, sadly, however, we have none of the instruments for cryptoprocessing of Kyber Network Crystal v2 token protocol.

Yes, we fully understand your situation, however, we are not able to recover the funds. Thus, we kindly ask you to refrain from unsupported tokens to your CEX.IO wallets.

Thank you for understanding!

So is this all? I will just loose my funds? Why can i retrive my coins when the same happens on Coinbase but not on CEX.IO?

Keep in mind i did several transactions from Binance to CEX.IO with KNC Token before this month and it worked without any problems. Also there was no warning on Binance Site or on CEX.IO site, nothing regarding that the network has changed or upgradet or whatever! Is this how you treat a loyal customer that does transfer coins worth of several millions dollar each month to and from your exchange? This response and thats it?

Now you let me wait again days before you respond me? No forwarding to a supervisor or anything similiar?

I contacted KNC and they said maybee if CEX.IO upgrades the token then i will get my funds, but this is just a big maybee IMO.

@cex please contact KNC and ask if there is anything you can do? I love to trade on your platform, but just this response after this 5 days is unnacteptable. Lets find a solution.

up136245374

We are glad to know that our team has been able to resolve your case to your benefit.
And once again, we are sorry for the situation.

The lesson learned and we will definitely do our best to provide our customers with the best services possible only.

Many thanks for your patience, understanding, and cooperation!

[btc78]

We are glad to know that our team has been able to resolve your case to your benefit.
And once again, we are sorry for the situation.

This is how the the company must act in every situation they will face and not to throw stone to the complainant , with this I respect your company Mate.

The lesson learned and we will definitely do our best to provide our customers with the best services possible only.

Another Salute for your company and Team , Please continue that way and you will earn support and respect to the whole community .

Many thanks for your patience, understanding, and cooperation!

you deserve the patience and Understanding.. Be good always.

[CEX]

We are glad to know that our team has been able to resolve your case to your benefit.
And once again, we are sorry for the situation.

This is how the the company must act in every situation they will face and not to throw stone to the complainant , with this I respect your company Mate.

The lesson learned and we will definitely do our best to provide our customers with the best services possible only.

Another Salute for your company and Team , Please continue that way and you will earn support and respect to the whole community .

Many thanks for your patience, understanding, and cooperation!

you deserve the patience and Understanding.. Be good always.

Many thanks for your kind words!

CEX.IO indeed values its customers and we are committed to ensuring that every user receives great service.

If you should ever find that you are in need of our assistance, please don’t hesitate to reach out.