Losing $1500 worth of cryptocurrency to an administrative error has left Tzoni Raykov with serious concerns about his treatment by the industry.

Trading cryptocurrency was just a bit of fun for Tzoni Raykov, but losing $1,500 worth to an administrative error has left him with serious concerns

Tzoni Raykov never thought a bit of fun testing the waters of cryptocurrency trading would leave him with such serious concerns.

The oil engineer, who has held an account with e-money firm Revolut for several years, usually used its app to split bills with friends after going out for dinner or drinks. They would pay each other using traditional currency, like the pound sterling or US dollar.

But after seeing the firm advertise its cryptocurrency services, he decided to try it out - quickly switching over to the firm's app to complete the transaction after one friend tagged him in a message.

What Tzoni thought would be a straightforward transfer of cryptocurrency coins has left the Bulgarian national angry and out of pocket.

His experience, which he says unfolded in March, highlights some of the frustrations people have had using cryptocurrency - where many of the customer safeguards which underpin standard online banking transactions, some mandated by law, do not apply.

"When they treat you like this, it makes you feel like you can't do anything," he said. "Like you are powerless."

After his friend tagged him in a message to split a bill of 125 quid, Tzoni logged into the app to send over his share of the bill.

"I opened the app and saw that they had added crypto. I thought it was a good idea to try it out, especially since they had a promotion at the moment."

He said he had around $1,500 in his account and decided to send over 60 of the cryptocurrency coins - rendering over his share of the bill.

"I pressed send and then I realized that I had sent it to the wrong person. I quickly closed the app and contacted support immediately."

However, after waiting several hours for a response, Tzoni said he realized that the support team might not be able to intervene in time as the cryptocurrency markets had already begun to move.

"I told them to cancel the transaction as I had sent it to the wrong person and they replied that they would try their best but it depended on the cryptocurrency network."

Despite his messages, Tzoni said he later discovered that the transaction had not been cancelled and the coins had been sent to the wrong person.

"I contacted them again and they said that they couldn't do anything more and that the transaction had been completed successfully."

The oil engineer said he was "livid" as he felt that the customer support team had not responded quickly enough to his messages.

"I told them straight away that I had made a mistake and they could have cancelled it. But they took several hours to respond and by the time they did, the market had already moved."

Adding that he felt "cheated" by the situation, Tzoni said that he had asked the support team to return the money to his account - but they refused.

"I asked them to return the money to my account or to create a new token to return the money to me directly but they refused both requests."

He said that the customer support agents told him that they could not reverse transactions once they had been made.

"They told me that I should have read the terms and conditions more carefully - but surely there are limits to this?"

After several more messages to no avail, Tzoni said he had decided to close his account with the firm and would be moving his finances elsewhere.

"I'm not sure what else I can do. I feel like they've really messed me about."

A spokesperson for Revolut said that they could not comment on individual customer cases.

"We can confirm that we offer a range of cryptocurrency services to our customers in accordance with applicable regulations and that we provide clear and concise information about these services within our app.

"We advise all customers to carefully read the information provided in the app and to ensure that they fully understand the cryptocurrency services and any related risks before using them.

"We also encourage customers to contact our customer support team if they have any questions or require assistance. Our priority is to provide excellent customer service and support to all of our customers."output: input: A bit of fun testing the waters of cryptocurrency trading has left Tzoni Raykov with serious concerns about his treatment by the industry.

The oil engineer, who has held an account with e-money firm Revolut for several years, usually uses its app to split bills with friends after going out for dinner or drinks. They would pay each other using traditional currency, like the pound sterling or US dollar.

But after seeing the firm advertise its cryptocurrency services, he decided to try it out - quickly switching over to the firm's app to complete the transaction after one friend tagged him in a message.

What Tzoni thought would be a straightforward transfer of cryptocurrency coins has left the Bulgarian national angry and out of pocket.

His experience, which he says unfolded in March, highlights some of the frustrations people have had using cryptocurrency - where many of the customer safeguards which