Revolut Refuses To Reimburse Customer After Unclear Deposit Instructions Cause Loss of $1,500 in Crypto: Report

The financial technology firm Revolut has reportedly refused to reimburse a customer who lost crypto assets due to an administrative error. BBC reports that Tzoni Raykov, a Bulgarian national, lost the funds after attempting to transfer $1,500 worth of the stablecoin USDC from a separate crypto wallet to his Revolut account. Raykov says he first sent $10 worth of USDC as a test and selected the Polygon POS (proof of stake) network to facilitate the transfer. The $10 transfer was successful. However, when Raykov subsequently sent $1,500 worth of USDC, he selected the “Polygon (bridged)” network. He says the method of transfer converted the stablecoin into its bridged version, USDC.e . Revolut reportedly received the bridged USDC, but the fintech firm doesn’t accept the asset. The $1,500 worth of the stablecoin hasn’t appeared in Raykov’s account or been sent back to him. Revolut told the BBC it couldn’t do anything about the error. “As is standard industry practice due to the significant technical challenges involved in supporting every combination of token and chain, the recovery of these unsupported assets does not sit within Revolut’s scope.” Raykov, an oil engineer, says Revolut’s deposit instructions weren’t specific enough. “They are waiting for me to get bored and give up, to accept the money is gone. But I won’t. It is ridiculous that they can behave like this.” Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Revolut Refuses To Reimburse Customer After Unclear Deposit Instructions Cause Loss of $1,500 in Crypto: Report appeared first on The Daily Hodl .