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Author Topic: Someone bought BTC at $6K yesterday and the exchange wants them back  (Read 782 times)
dupee419
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February 28, 2021, 03:34:14 AM
 #81

Hey, it's not like it's the traders fault, he/she should make up for this, because it wasn't his fault in the first place, and not his fault for buying it at a low price, or let's say at a glitched price, it's probably a bug from the exchange, but again, the exchange should make a compensation for this, not only to bring the bought BTC back but to at least give something to the trader when it is not his fault in the first place.

Although, since PDAX has made changes to his/her account, he has probably no choice but to give it back, either give it back or demand something or give a condition to the exchange for having him return what he bought, again, it's not his fault in the first place.
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Obito
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February 28, 2021, 03:52:19 AM
 #82

Hey, it's not like it's the traders fault, he/she should make up for this, because it wasn't his fault in the first place, and not his fault for buying it at a low price, or let's say at a glitched price, it's probably a bug from the exchange, but again, the exchange should make a compensation for this, not only to bring the bought BTC back but to at least give something to the trader when it is not his fault in the first place.

Although, since PDAX has made changes to his/her account, he has probably no choice but to give it back, either give it back or demand something or give a condition to the exchange for having him return what he bought, again, it's not his fault in the first place.
If it is not his fault then that person shouldn't make up for it, making up for something that isn't your fault is a paradox of itself. The person shouldn't just get the bitcoin back but they also have to compensate the person because they try to blame the person for their mistake. If I were in that position, I would stand my ground because I know that I didn't do anything wrong.
Flor1982
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February 28, 2021, 04:28:10 AM
 #83

Let's say that Bitcoin is legal in the Philippines, but they can't call that those are stolen Bitcoin except if there is an agreement or policy in case of a system error like this. But I think there is none; therefore, if I were him, I would not return the purchased Bitcoin, especially if I have already converted it to fiat because they still need to prove that what I did is stealing or buying them illegally.
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February 28, 2021, 05:11:54 AM
 #84

Well what to say about the errors! Citi bank sent 900 million dollars mistakenly to wrong accounts and they got to keep it.

PDAX and crypto stuff is all decentralised and thus stands for low percentage of winning the dispute if any. This will never happen though. Pdax know this very well that it’s their own mistake or exchanger error. Even if the case is lodged then also user won’t get hampered since he can prove that he just followed the normal buy and sell process with whatever price was offered to him.  Cheesy
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February 28, 2021, 06:13:13 AM
 #85

I remember a post I've read in bitcointalk about a guy having bought Bitcoin at $0.10 in MtGox after hackers managed to access most of the exchange accounts and were dumping Bitcoin. This guy was forced to pay the Bitcoin back to MtGox. There should be rules that the user has accepted that state the obvious. Any kind of bug abuse that will result in buying very lower than the actual price will not look good and since there is KYC in this exchange they will take the Bitcoin back one way or another.
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