Announcement: Wednesday November 17th, 2021 – Double ETH Withdrawals

We wanted to notify our users of a minor issue we identified on November 12th 2021 relating to Ethereum withdrawals processed between October 13th and November 11th 2021.  

What happened: 

  • Between October 13th to November 11th, we experienced several delays in processing ETH withdrawals due to the volatility of ETH gas prices.  
  • Unfortunately, some ETH withdrawals were processed with gas prices that were too low to be picked up by the blockchain at the time. This resulted in withdrawals being delayed for some customers and cancelled for others. 
  • To reduce the overall wait times for our clients, we processed transactions via an alternative wallet.  The transactions were processed, but the original (delayed) transactions were never cancelled. 
  • As a result, 279 of our users received ETH twice, from 2 different wallets. 

Actions taken by Coinberry: 

  • Notified all affected users.
  • Found and fixed the error.   

What we have done: 

As soon as we became aware of the issue, we reached out to all affected users to share what we knew at the time.  

  • Thoroughly investigated the matter, identified the root cause and contained the overall impact.  
  • Ensured that the user activity feed is aligned to what happened on the blockchain.  
  • Established a compensation strategy for this incident and will cover any gas fees related to returning the ETH back to us.  

What happens next:  

  • We ask that all affected users return the duplicate ETH to their Coinberry accounts. As a thank you, we will:  
  • Cover any reasonable gas or transaction fees related to you sending the ETH back to us.  
  • Apply a Goodwill credit of $100.00 CAD to your Coinberry account for working with us and being awesome. 
  • These credits will be applied to the user account within 2 business days of the duplicate ETH having been returned to us.  

We understand that this error may be frustrating, and we apologize for any inconvenience this may have caused. 

Thank you for your support