The best airdrop ever !

[Baofeng]

South Korean exchange CoinZest mistakenly gives away $5.3 million worth of crypto
https://news.bitcoin.com/airdrop-korean-exchange-send-btc/

i wonder if coinzest can handle this loss. after all, it is a lot of money and that must first be earned. such a loss is almost as tragic as a hack.

Yeah, however, I believed that the exchange has deep pocket for all we know. Putting up a exchange needs a lot of capital although this is a big blow for them and specially for their investors behind, I'm sure they're already thinking of mitigating the loss.

It's a big money of course, but they need to move forward and don't let this hinder their goals to make more money in this business.

[BitTraderCute]

I found many airdrop last years and could raised more than 10 ETH at airdrop project, maybe many people still remember about ebtc airdrop and get much money there, then I joined at exrn airdrop and got lucky with higher price of this airdrop.

ebtc was the most legit airdrop at that moment.much people happy with this program ,they could earn more 10eth for each people while ebtc price rise alot.unfortunately difficult to find the same kind airdrop at this moment.

[Abosede]

WO! that is a costly mistake that will not only cost them fortune but may cost them their customers as well because many of their customers will begin to doubt their credibility when it comes to security, nobody want to lose his or her asset,so this may lead to many trying to do away with the exchange.I really feel for the exchange, I just hope the exchange will find a way around it.

[3core]

That's a big airdrop and costly mistake too, but according to article most users are willing to return the assets "Coinzest immediately contacted the customers and asked them to return their assets. The majority of the members promised to return [them]." That's a good news as they won't have to bare all the loss.

[reza7777]

That's a big airdrop and costly mistake too, but according to article most users are willing to return the assets "Coinzest immediately contacted the customers and asked them to return their assets. The majority of the members promised to return [them]." That's a good news as they won't have to bare all the loss.

it was a mistake and maybe if one of them would not return it because it was pretty large amount and I could buy everything I wanted but we see if 80% of people will return the funds

[djuragan]

South Korean exchange CoinZest mistakenly gives away $5.3 million worth of crypto
https://news.bitcoin.com/airdrop-korean-exchange-send-btc/

"In what was supposed to be a routine airdrop, South Korean cryptocurrency exchange CoinZest is now forced to conduct a massive roll-back after mistakenly giving away around $5.3 million worth of cryptocurrencies, CryptoNews reports.

Last week, the exchange planned on airdropping hundreds of We Game Tokens (WGT) as part of a promotional event. However, users were instead credited with other cryptocurrencies like Bitcoin and Ethereum.

Citing a “computer error” as the cause of the blunder, the exchange’s servers went offline as the team scrambled to restore the databases to their original state, and attempting to reach customers, many of whom had already made fiat withdrawals on the funds. Most of the funds have since been reclaimed, but the exchange states that around $2.6 million hasn’t been returned.

Many believe that consumers withdrew the funds as soon as they received the incorrect crypto. One industry expert believes that there is “no way CoinZest can get the funds back from customers who have already made withdrawals.”


https://ethereumworldnews.com/s-korean-exchange-sends-bitcoin-btc-in-error-during-airdrop/

"Initially, 400 members were meant to receive the WGT tokens but the computer error resulted in the aforementioned deposit of $5 Million worth of BTC, other cryptocurrencies and fiat into their wallets. About 10 members tried to sell about $530,000 worth of cryptocurrencies or to withdraw money denominated in the Korean Won."

That is a terrible error that has happen. And because of the anonymity of cryptocurrency, something that has been withdraw will surely gone and can't be take back again, except the customers willing to return the fund they get.

[whatthesith]

It is click bait?  . So it seems that it was not the biggest airdrop if they are not able to withdraw that funds, or?

[kenzawak]

It is click bait?  . So it seems that it was not the biggest airdrop if they are not able to withdraw that funds, or?

lol kind of yes.
It seems like some of them were able to withdraw their funds. There's $2,6 M missing.

[Ociwiw]

An error that cost them a very large amount, they are unlikely to get all the money back!

[Adunni6758]

This is a serious loss on the side of the exchange. I am just trying to imagine its present state and that might make the team to be hard on their customers.
Come to think of it, did the customers who absconded with the money after converting to fiat, know about it prior the distribution? Just for them to have quickly think of withdrawing the fund,before the exchange becomes aware.
Yet some people were faithful enough to return the fund.