BTCs gone missing

[Patrick_Schueffel]

As TenX had announced to sunset their services and recommended to transfer all remaining funds from their wallets, I followed their advice and initiated the transfer of my remaining BTCs from the TenX Wallet to my Ledger more than five days ago (15. Jan).

I received a bogus transaction ID from TenX and the funds never arrived at destination.

TenX’ customer support tells me to be patient as there is some issue with a supplier.

Did anyone have similar experiences? How was it resolved? How long did it take?

[FuSchuh]

Five days ago I also transfered all my funds to my own wallets, Worked completely fine for me. The transactions took around 10 minutes for both BTC and ETH.

[Patrick_Schueffel]

Thanks for your reply!

Although I don’t know whether that’s more concerning now or less…

[Tenebrae]

Hey Patrick,

if that is not sorted out in 2 days please reach out to our support again. Normally there should be a follow up in those cases from us.

[Patrick_Schueffel]

I am in contact with your support - every day. But unfortunately the message is always the same: be patient. For more than five days now and no timeline for resolution.

[Patrick_Schueffel]

Yeah… my BTCs now gone for 6 days and I still have no timeline for the restitution of my assets. The only message I receive from TenX is ‘be patient’. As much as I dislike it, I’m now left with no other alternative than to involve the Singaporean police and MAS…

[3runexx]

I would be very happy to support you in this. I must not say it openly, otherwise I will be banned. I’ve been warned again. But you know what I mean.

[Patrick_Schueffel]

Thanks! Pls PM me on Telegram: @schueffel

[Tenebrae]

You have been warned because you were toxic against someone from the staff, not because you raised your opinion.

@Patrick_Schueffel I will send you a PM, I need your email to see what’s going on.

[3runexx]

I know Thomas and I understand that you are doing your job. I would be really happy if you would take the leadership at TenX.

[TobiaSchroeder]

This is a joke i hope … if you need to ban half of the active people on a community forum i think its not the best recommendation for that job!

[Failsafe]

I emptied the BTC from my TenX account a few days ago. The transaction took about 12h to process on the blockchain due to BTC transaction mempool being over full at the time. Bear in mind that TenX pay all the fees to send you your Bitcoin. It costs you absolutely nothing to transfer your balance back to you!

[santascoming]

to be fair, everyone who ordered a card had to pay in BTC, but most of us never got a card (therefore had no use) and now we got back the equivalent of 15$ in BTC, which is way less in BTC total amount.
so the gains that crypto had in the past are kept by tenx.

remember, there was never an option to pay in US dollar.
i wonder what would have happened if BTC would be worth less now than in 2017.

would we get more BTC back in total?

[Patrick_Schueffel]

I am very glad to hear that you received your BTCs back. Mine are still missing. TenX has neither been able nor willing to restitute my property. And in the meantime an entire week went by and you know what happened to the bitcoin price in the meantime…

[Failsafe]

@santascoming it was always stated by TenX that the card would cost USD 15 and therefore that is the amount you paid at the time, irrelevent what currency you actually paid with that conceptually was immediately converted to USD. The card price was pegged to USD; it wasn’t pegged to the price of BTC. At the time you ordered your card you paid $15 worth of BTC (at whatever the USD/BTC exchange rate was at the time). It is quite right that to refund the price you paid then that you should be returned USD 15, albeit in a different currency at the prevailing exchange rate at the time of the refund. All this is obvious to most people.

Now had TenX said that the card would cost you X amount of ETH or X amount of BTC then you would be due back the full amount of that currency instead. But let’s live in the real world, the card supplier would likely be paid in fiat (USD?) and TenX would have had to agree a cost per card with them in fiat. That’s why the price was pegged to USD for the cards.

All this seems completely obvious does it not? I don’t see why folk are so annoyed about it. If TenX did decide to keep your card payment BTC as BTC rather than immediately exchanging it to fiat USD 15, then that’s their risk (and as it happens gain). If you did not want to give them the (equivalent of) $15 to be on the card waiting list then you didn’t have to, it was your choice. At least they’ve always provided the option of full $15 (in prevailing BTC equivalent) refund at any time since you’ve joined the waiting list though.

[santascoming]

point is: it was always said that cards will come out for everyone, roadmap is clear, starting with asia-pacific and then EU.
now, 3 years later, everything is on hold, tokens are worthless and there are no cards anymore.
in the meantime more and more competing companies expand and deliver cards.

it was THE thing tenx wanted to deliver since the beginning, and the plan was adding features on this.

so, you’re right. but i think you are also wrong.
letting people buy in on a waiting list and keeping them there for 3 years by constantly telling them everything is fine and products will come in time is just wrong.

[Patrick_Schueffel]

Quick update on my case: After my bitcoins went missing for a week and eight messages to support and management, TenX booked them back into my account today. However, I aged in dog years in the meantime.

[3runexx]

did you threaten them with the police? I think that’s why they paid quickly.