BYDFi Rebuts Content Creator's False Allegations, Upholds Policy Integrity

BYDFi, a prominent global cryptocurrency exchange, has issued an official response to address false allegations made by content creator ExtraVOD on social media. The dispute began in late January when ExtraVOD was found to have violated BYDFi's User Agreement by opening a second account to bypass risk limits for perpetual contracts.

On January 25, BYDFi detected abnormal trading activities from ExtraVOD's second account and reminded him of the platform's policies. ExtraVOD initially claimed ignorance but later admitted to creating the second account for high-frequency trading. BYDFi requested the removal of misleading content from ExtraVOD's social media platforms.

Following negotiations on January 28 and 29, an agreement was reached. All funds in ExtraVOD’s main account remained accessible, while deposit funds from the sub-account were merged into the main account. ExtraVOD acknowledged the resolution and continued trading actively for the next month.

However, on March 1, ExtraVOD re-engaged, demanding profit funds from the sub-account. BYDFi support reiterated that, per the January agreement, all deposited funds had already been returned to the main account. Despite this, ExtraVOD escalated the situation by threatening to expose the issue on social media unless his demands were met. He altered his stance, now claiming the second account belonged to his family and released a video urging his followers to pressure BYDFi into returning the funds.

BYDFi has maintained its commitment to integrity and transparency, ensuring a fair trading environment for all users. The platform has clarified that all legitimate funds were returned to ExtraVOD’s verified account, but trading profits were voided due to rule violations. BYDFi will not tolerate defamatory actions and reserves the right to take legal action against any damages caused by misleading claims. The misuse of multiple accounts to bypass risk limits is a violation of policies across all trading platforms.

Founded in 2020, BYDFi is recognized as one of the top global crypto exchanges, trusted by over 1,000,000 users worldwide. The platform remains committed to delivering a world-class crypto trading experience for every user.