(Resolved) My Funds are Missing in Kucoin/ByBit Exchange: What should I do?

[EarnOnVictor]

When Kucoin has already confirmed that the funds have been released from thier side then you will need to contact ByBit exchange. If they are not helpful or are clueless then you should comeback and update this thread with their reply. This is the first time I have read of such a problem. If you have entered all the details correctly then they will be able to locate the funds credit your exchange wallet.

Bybit has sent me the refund TXID and it is the due of kucoin to the coins back to me. But kucoin is saying that I should pay 40$ which is abnormal.

Sorry about this my friend, this is so serious and I do not pray it to happen to anyone as it could be so frustrating if one is dealing with two companies in disputes especially if one is not so accessible or cooperating. I hope you get your money back eventually. I would have furnished you with the contacting means of Bybits through the community and discord channels that had been provided for you, but since you were already satisfied with their response of handing you the needed refund TXID, there may be no need for more again. But still, in case you need it, in addition, the email at support@bybit.com may still help because what they couldn't solve through chat communication was done through email contacts.

By the way, the $40 fee is crazy and I wonder how much you sent that would make it worth it to give them such a huge amount. Is it not their customer issue that is bound to be solved for free? I hope this is not an extortion to stylishly get money from people. This is a lesson for me and it is not the first time I read that transactions were stuck under Kucoin. It was in mass stuck about 2 months ago and even issued compensation then. Maybe they were testing how they will hold people's transactions by then, who knows? I've completed over 1000 crypto transactions and one has never stuck, thankfully, I only performed 3 transactions with them and I think that would be the last.

[Coin_trader]

When Kucoin has already confirmed that the funds have been released from thier side then you will need to contact ByBit exchange. If they are not helpful or are clueless then you should comeback and update this thread with their reply. This is the first time I have read of such a problem. If you have entered all the details correctly then they will be able to locate the funds credit your exchange wallet.

Bybit has sent me the refund TXID and it is the due of kucoin to the coins back to me. But kucoin is saying that I should pay 40$ which is abnormal.

The fee is madness to be honest since the funds return to the exchange hot wallet. You the TXID so the support only needs to do is to credit the amount back to your account.

But that 40$ is the only answer to solve your issue since the funds is already back on Kucoin while they have policy like that. Also there’s a mistake on your side here so you have no choice even the if amount of fee is high.

I believe even the cs on the forum can’t do anything with that fee since exchange charge it for inconvenience.

[philipma1957]

When Kucoin has already confirmed that the funds have been released from thier side then you will need to contact ByBit exchange. If they are not helpful or are clueless then you should comeback and update this thread with their reply. This is the first time I have read of such a problem. If you have entered all the details correctly then they will be able to locate the funds credit your exchange wallet.

Bybit has sent me the refund TXID and it is the due of kucoin to the coins back to me. But kucoin is saying that I should pay 40$ which is abnormal.

So lets talk there is a $40 dollar 'fuck you fee'

correct?

How much is your refund?  My suggestion is pay the fee grab the refund.  And you got to learn the kucoin sucks for only $40 .

Here watch this clip

https://www.youtube.com/watch?v=78-4RobJQ0Y


this is more than 20 years old so inflation means $40 is the same as the $20 in this scene.

[o48o]

When Kucoin has already confirmed that the funds have been released from thier side then you will need to contact ByBit exchange. If they are not helpful or are clueless then you should comeback and update this thread with their reply. This is the first time I have read of such a problem. If you have entered all the details correctly then they will be able to locate the funds credit your exchange wallet.

Bybit has sent me the refund TXID and it is the due of kucoin to the coins back to me. But kucoin is saying that I should pay 40$ which is abnormal.

Whom exactly are you talking with and from what source? Because asking money to do things before they do it, is excatly how scammers operate.

I never ever had to pay anything for forgetting to add some memo and asking help from an exchange i send it to. And it's not like kucoin has anything to do with this issue, your money is not in Kucoin after you send it to ByBit. They even said that themselves. You should deal with Bybit directly. Nothing about this sounds right.

If that Kucoin admin is indeed not a scammer, he / she is asking money from extra work you could do for yourself by contacting the team's discord and other ways that i provided. I don't think asking your money around from other exchanges is even on any help admin's or helpdesk's job description.

[Agbe]

Because asking money to do things before they do it, is excatly how scammers operate.

Exactly and that is my fear and nothing more. Frankly speaking to pay the money nis not an issue, if I pay the money then they frame another story that they can't refund the money because they don't know where the funds are or other cooked up stories then I became a loser with double transactions. So the payment before refund is not nice one. I really doubt if it is real.

[X-ray]

honestly you should make sure that they really charge or not, maybe chat them again $40 just to retrieve your own money is honestly ridiculous but there is also always chance that some business enforce such a thing to make sure they aren't losing on other people's mistake.
you just need to make sure that the email you received is genuine from kucoin and if it is, then start to think whether it's worth it to retrieve your money by paying that fee.

honestly if i were you if the money retrieved outweigh the fee imposed i'd just retrieve and dipped and never using kucoin service again.

to be frank though,i personally find sending coin to a chain that requires memo to be a really bad experience and really vulnerable to mistake, our muscle memory always thinks an address is enough identifier.

Because asking money to do things before they do it, is excatly how scammers operate.

Exactly and that is my fear and nothing more. Frankly speaking to pay the money nis not an issue, if I pay the money then they frame another story that they can't refund the money because they don't know where the funds are or other cooked up stories then I became a loser with double transactions. So the payment before refund is not nice one. I really doubt if it is real.

yeah requires paying before knowing whether the problem could be solved is really an shady move in my opinion.

[arwin100]

When Kucoin has already confirmed that the funds have been released from thier side then you will need to contact ByBit exchange. If they are not helpful or are clueless then you should comeback and update this thread with their reply. This is the first time I have read of such a problem. If you have entered all the details correctly then they will be able to locate the funds credit your exchange wallet.

Bybit has sent me the refund TXID and it is the due of kucoin to the coins back to me. But kucoin is saying that I should pay 40$ which is abnormal.

Actually there's a written information about paying for recovering your funds in kucoin https://www.kucoin.com/support/8366839950361. I also experience same like case which I deposit my BNB to other chain then the transaction succeed but it never get credited to my wallet since the chain I accidentally used is not yet supported on my personal wallet. When I ask the support for recovery then there's some fees asked maybe for their efforts made. If the amount you lost is huge then I guess paying $40 may have sense at least you can get something from your floating funds. But if the amount is so small then maybe better to move on from this issue then next time be careful on next transaction and make sure that you include the memo or other important requirements so that your transaction will be credited to your wallet. Best to do now is to comeback on their support since they are the one who can help you with this issue.

[Text]

Exactly and that is my fear and nothing more. Frankly speaking to pay the money nis not an issue, if I pay the money then they frame another story that they can't refund the money because they don't know where the funds are or other cooked up stories then I became a loser with double transactions. So the payment before refund is not nice one. I really doubt if it is real.

Never pay any fees upfront without a clear understanding of what service you're receiving and the terms involved. While the processing fee might seem unusual, it's not entirely unheard of. However, you should only proceed once you're confident about the legitimacy of the request. If everything checks out and you decide to proceed with the payment, ensure that you’re sending the processing fee to an official Kucoin address and not to any third-party or suspicious address.

[wxa7115]

Because asking money to do things before they do it, is excatly how scammers operate.

Exactly and that is my fear and nothing more. Frankly speaking to pay the money nis not an issue, if I pay the money then they frame another story that they can't refund the money because they don't know where the funds are or other cooked up stories then I became a loser with double transactions. So the payment before refund is not nice one. I really doubt if it is real.

This is odd, exchanges charging money to recover coins when a user makes a mistake is not unheard of, however if the money you sent on that mistaken transaction is above that amount, Kucoin should be able to subtract that amount directly without the need for you to send an additional transaction.

So you are either dealing with a scammer impersonating Kucoin staff, or your transaction is lower than 40 dollars, in which case you might as well just forget about that money.

[Agbe]

I want to thanks everyone who made comments and advise me one way or the other. I want to officially inform you that I have gotten the refund from kucoin and it was not an easy battle. I finally paid the 40 USDT to kucoin foe them to refund the coins to my kucoin address. And my concern here is that, the same service they (kucoin) render, also render by Bybit in the process of the refund. And Bybit didn't collect any service fee from me while kucoin collect such big amount of money. Well my interest here is that I have finally gotten my coins. All we have to do is we have to be careful when doing any transaction and don't do any mistake. Thanks everyone.