title: Revolut Refuses to Reimburse Customer Who Lost Crypto Assets Due to an Administrative Error

The financial technology firm Revolut has reportedly refused to reimburse a customer who lost crypto assets due to an administrative error.

A customer of the financial technology firm Revolut has lost crypto assets due to an administrative error and the fintech firm reportedly refuses to reimburse the funds.

According to BBC, Tzoni Raykov, a Bulgarian national, attempted 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 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.

suggest that the error occurred due to a lack of clarity in the instructions provided by Revolut for receiving the cryptocurrency.

An interviewee, who lost 1,500 USD in stablecoins after an administrative error, expressed frustration at the lack of response from the fintech firm.

The interviewee said that he had attempted to transfer a small amount of USDC to test the process before sending a larger sum. The smaller transfer, involving 10 USD in USDC, was completed successfully. However, when he tried to send 1,500 USD in USDC, it seems that the bank received a different asset, which they do not support.

The interviewee stated that the error was not his fault and that he followed the bank’s instructions. He added that he will not stop contacting the bank until they resolve the issue.

The interviewee is an oil engineer and a father of two, juggling a busy schedule. He explained that he had been trying to contact the bank for the past two months but had yet to receive a response.

The interviewee’s story highlights the challenges that can arise when dealing with different crypto assets and chains. It also raises questions about the responsibility of fintech firms in handling such errors.