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Author Topic: [TRADING] Has anyone experience this on some DEX such as Forkdelta?  (Read 144 times)
cryptoaddictchie (OP)
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December 23, 2019, 03:47:42 AM
Last edit: December 23, 2019, 03:57:45 AM by cryptoaddictchie
 #1

My friend try to buy this token BBOD on forkdelta possibly will do arbitrary trading prior to launch of BBOD on their own non custodial type exchange last December 20, 2019, but somehow his bid got a mistake and instead putting the price of the BBOD/eth on his desire target price, he put the amount or volume on this section.



Once the bid is set the eth on his balance on DEX was gone due to succesfully sold with an amount of 0 quantity. This should return back right?

He asked me for help, but I said that I dont know any case yet about this so I posted it here. Im a bit shocked that if we made a mistake like this (human error) then our precious asset would suddenly vaporize like that.

I think the process should not be accepted since the quantity is 0 of course if someone saw this, he will probably sell it and that's what happened.

Here is the transaction hash:
0xf81a30e5b04f921e04c788a54e33709de0468d8c48af79782f6e08d9a632b110

I dont quite understand how the process goes as I reviewed his transactions and internal transactions. Can someone explain or help me to know what happened on his eth cause as he said the eth was deducted for the 0 BBOD tokens transactions sold. If this can be processed I'm scared to use dex as I will be buying expensive 0 quantity tokens. Hope someone can explain or help me to identify facts on this issue.

Please no spam posts. Once I get an appropriate explanation will locked the thread as soon as possible and those who will spam and off topic will be reported. Thanks.

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LbtalkL
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December 23, 2019, 05:34:24 AM
Last edit: December 23, 2019, 07:11:51 AM by LbtalkL
 #2

Sorry to say but I guess this transaction is irreversible, forkdelta is a DEX, maybe someone see this bid and got excited and grab this opportunity but sorry for your friend.
I have seen similar mistake last 2017 so many people are unfamiliar with forkdelta (etherdelta) so be careful when trying to trade in that DeX, their exchange UI might confuse some traders.
cryptoaddictchie (OP)
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December 23, 2019, 05:42:00 AM
 #3

Sorry to say but I guess this transaction is irreversable, forkdelta is a DEX, maybe someone see this bid and got excited and grab this opportunity but sorry for your friend.
I have seen similar mistake last 2017 so many people are unfamiliar with forkdelta (etherdelta) so be careful when trying to trade in that DeX, their exchange UI might confuse some traders.

If that's the case then I feel down for him. I love to trade with dex and cause it is indeed very easy to use with. I just dont know why DEX allow this kind of transactions, the person indeed not intentionally do this on purpose and I believe him so. Imagine a 0 quantity volume was paid with an overprice value then the eth was deducted. If one thing I wanted DEX to improved was this. Though I cannot blame the process but still some people who are careless could loss a lot of money with a very typical mistake such as this.

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Bttzed03
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December 23, 2019, 05:49:18 AM
 #4

Move your topic to the Exchanges board https://bitcointalk.org/index.php?board=223.0


I also think that your friend's eth is gone and that the transaction on DEXs like FD is irreversible. This has happened many times before even on other DEXs like ED where FD was forked from.

The best way to know what really happened is to contact their support team:

shinratensei_
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December 23, 2019, 08:11:42 AM
 #5

Sorry to say but I guess this transaction is irreversable, forkdelta is a DEX, maybe someone see this bid and got excited and grab this opportunity but sorry for your friend.
I have seen similar mistake last 2017 so many people are unfamiliar with forkdelta (etherdelta) so be careful when trying to trade in that DeX, their exchange UI might confuse some traders.

If that's the case then I feel down for him. I love to trade with dex and cause it is indeed very easy to use with. I just dont know why DEX allow this kind of transactions, the person indeed not intentionally do this on purpose and I believe him so. Imagine a 0 quantity volume was paid with an overprice value then the eth was deducted. If one thing I wanted DEX to improved was this. Though I cannot blame the process but still some people who are careless could loss a lot of money with a very typical mistake such as this.
It looks like if your friend is a new user of dex, right? he needs more education about that. It's very sad to see that but anything that already done on the forkdelta can't be reverted. it looks like your friend is wanna putting the amount of BBD token as the price but he was placing it in the wrong place.
You can even buy less than 0.00001 token on forkdelta with 1000 ether. there is no minimum value in forkdelta. That's why idex is a modern form of forkdelta.

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December 23, 2019, 08:18:25 AM
 #6

transactions are done automatically and it's called DEX they use smart contracts to process buying and selling so that every purchase and sale that has been processed cannot be canceled or requested again, I've seen a number of cases of people who mistakenly saw the token price should be used as the number of tokens , as traders we should look carefully at the order book button where the token amount is and where the token price is, it seems your friend made a mistake, I can't help and guarantee the money can be returned, unless you contact etherdelta or forkdelta

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December 23, 2019, 09:38:25 AM
 #7

I don't think this can be returned. Because the order has been executed there is no way to change the TX ID. Maybe if chatting to forkdelta support will not solve this human error problem. Unless forkdelta wants to give a gift back to your friends. Just make it a lesson to be careful in the future.



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