BYDFi Stands Firm on Policy, Voids ExtraVOD's Trading Profits

BYDFi, a prominent global cryptocurrency exchange, has issued an official response to allegations made by content creator ExtraVOD. The dispute centers around ExtraVOD's trading activities and BYDFi's adherence to its user policies. The incident began on January 25 when BYDFi detected abnormal trading activity from ExtraVOD's account. ExtraVOD had opened a second account to bypass risk limits after the first account reached its perpetual risk limit. BYDFi promptly reminded ExtraVOD of the User Agreement and the risk limits for perpetual contracts.

On January 26, ExtraVOD admitted to creating a second account for high-frequency trading but claimed ignorance of the policy. BYDFi requested the removal of misleading content from ExtraVOD's social media platforms. Following negotiations on January 28-29, an agreement was reached. All funds in ExtraVOD’s main account remained fully accessible, while deposit funds from the sub-account were merged into the main account. ExtraVOD acknowledged the resolution and continued trading actively over the next month.

However, on March 1-5, 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. The situation escalated on March 11-15 when ExtraVOD threatened 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 emphasized its commitment to integrity and transparency, ensuring a fair trading environment for all users. 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 10 Global Crypto Exchanges, trusted by over 1,000,000 users worldwide. The exchange remains committed to delivering a world-class crypto trading experience for every user. This incident highlights BYDFi's unwavering stance on adhering to rules and policies, prioritizing fairness and transparency over follower sentiment.