This is my story of dealing with blenbit.com when a funds transfer went bad!
I sent XRP from my Kraken account over to my XRP account over at blenbit.com exchange. I used my cell phone do scan the QR code for the exchange XRP account so I know that it arrived in there exchange account. Problem is there is also a tag when sending so that when it arrives at the other side the exchange knows what account the coin should go into. This is normally the account number of your coin account at the other end. if the funds went into the wrong cypto account, it would be lost. But it didn’t, it arrived in the exchanges master account. I contacted support right away when the coin did not show up in the blenbit.com account and gave them the XRP explorer address so they can track the transaction (it is an on chain record to show where the coin went). It appears that I missed one digit in the account. I have included the conversation I had with support to try and get this resolved before going the route of setting up this website. See below:
“They are credited to a different external account”, this is a lie. The tag is an internal account number and not an external account number as suggested by support.
The exchange wallet address is : r3qMymo2bpydgxg3YgzSuJ5SGeJFU3mHRX
The one nice thing about crypto is that all transactions are on the block chain that can be seen by everyone. Here is the explorer link to my transaction on the block chain:
https://xrpscan.com/tx/F618BF25F29F57D04EC21A235CA734F40277FF31BFC8FD494C5D813E233DE511
when it comes to crypto transfers they happen into the wallet address and then the exchange uses the Tag ID (1000217111) to put that coin into an account that is on the exchange so if it arrived in the wallet and the above xrpscan says that it did, then its not an external account as the support message above suggests, and they very much have control over it and it is more than likely just sitting in their wallet and they are using this excuse to keep it.
Lets play devils advocate for a moment and says that it did land in an account on the exchange. That person must know it was not theirs to keep and doing anything with that coin would be illegal. If someone put a million dollars into my account, I know that I could not just keep it. And if I did you can bet that the exchange would come after me to recover it.
Looking at the above situation, in order to prevent this very occurrence, one would expect that account numbers on the exchange would use a check digit to make sure the account number is correct If even one digit was was changed the check digit would not match and and the coin would not be moved into the account and it would just sit into the main exchange XRP account and wait for support to resolve the issue. If they are telling me that the money is gone this would suggest to me that this exchange has very poor security and the next question that comes to mind to me is “do you really want to put your money in an exchange that has security that is this poor?”. It looks like its too late for me (since they have banned me from their platform) since it does not look like I am going to get a resolution. But at least I can warm others. If you look at the current price of XRP the transfer represents approx. 1300.00 USD that the exchange is keeping.
If you did not look at the explorer link above I have include some screen shots of the transaction below …. including a screen shot that says the coin was transferred into the exchanges wallet.
Based on some links on X.com it is looking like others are also having issues with blenbit.com.
https://x.com/hashtag/Blenbit
