SoSure Refusing to Refund My Bitcoins As value $0.10. What Course of Action to Take?

Chchnu on 28/06/2021 - 14:55
Last edited 28/06/2021 - 15:08 by 1 other user

SoSure recently sent a notice to everyone to contact them to get your bitcoins paid out since they are closing down.

I then emailed them to get my bitcoins refunded and they replied saying that they can't complete the transaction because my balance is $0.10.

I think its a major scam since the balance doesn't dictate the process.

What should I do? They are closing down so I can't put them to the ACCC or lawyer up.

Even if they close can I go to ACCC or legal aid?

Seems like they are evil company and just stealing as much as they can before closing shop.

Anyone else having the same issue when trying to withdraw their balance?

Financial

Related Stores

SoSure
SoSure

Comments

  • djkelly69 on 28/06/2021 - 14:59
    +106

    Are you actually asking how you can take action against them to get $0.10 back??

      • SydStrand on 28/06/2021 - 15:08
        +26

        Lots of banks won't allow automated withdrawals if your balance is too low, forcing you to visit a cashier. There are other types of accounts that have minimum balances to account for processing fees. The fact you're flipping out and contemplating the ACCC for 10c is laughable.

        • cadwalader on 29/06/2021 - 21:53
          +3

          Some people, prepared to buy bitcoins but not prepared to lose 10c.

      • djkelly69 on 28/06/2021 - 15:16
        +15

        I don't really know how it works, but I assume there are fees involved in converting BTC to AUD. It seems likely those fees would be more than $0.10.

        It seems more akin to a big bank refusing to arrange a bank cheque to pay you $0.10.

        • cloudy on 29/06/2021 - 14:56
          -3

          Last time BTC was debated by the millionaire dude he said you can’t compare BTC to cheques, BTCis far superior, in every single way.

          So I always laugh whenever I hear someone defend BTC With the comparison with cheque.

          Love BTC, it’s whatever one wants it to be.

          • djkelly69 on 30/06/2021 - 10:51

            @cloudy: Not really sure what you are on about. I was not comparing BTC with a bank cheque at all.

            And for the record BTC is not superior to a bank cheque 'in every single way' - for example try paying BTC as opposed to a bank cheque for your property settlement.

            • rektrading on 30/06/2021 - 11:21

              @djkelly69:

              Cash or Bitcoin?

              That’s the option facing prospective buyers of a Reservoir house, with the vendor declaring he’s open to accepting the cryptocurrency.

              The renovated four-bedroom pad, featuring a four-car garage crowned by a man cave, has hit the market with a $880,000-$950,000 price guide.

              This equated to about 67-73 Bitcoin at the time of publishing, when one Bitcoin was worth a touch above $13,000.
              https://www.realestate.com.au/news/bitcoin-reservoir-seller-…

              Sold for $885,000 on 5 Dec 2020
              https://raywhitepreston.com.au/properties/sold-residential/v…

              67 Bitcoin was $1.282m ($19147 BTC/USD) on December 5 2020. The same 67 Bitcoin today June 30 2021 is $2.406m ($35911 BTC/USD).

              Yes, Bitcoin is better than bank cheques in every way.

              • djkelly69 on 30/06/2021 - 12:25
                +1

                @rektrading:

                Yes, Bitcoin is better than bank cheques in every way.

                One (or a few) vendors accepting BTC versus universal acceptance of bank cheques. You sure showed me.

                Not sure what the relevance of BTC going up since the sale was completed is.

      • Icecold5000 on 28/06/2021 - 16:10
        +46

        The real issue is that you are wasting valuable time and are not smart enough to realise it.

        • MontyMacaw on 29/06/2021 - 14:48
          +3

          I stopped reading comments here👆As this was my thinking and covers both the energy of the OP’s post and the energy of me reading and responding to it.

      • ln28909 on 30/06/2021 - 10:39

        the transaction fee to send $0.10 in bitcoin to you is more than $0.10, so you will end up with $0 either way

  • Quantumcat on 28/06/2021 - 15:00
    +23

    Are you really going to expend energy over 10c? I can't be bothered to go through my couch cushions and I would probably make a few dollars by doing so.

    • vinnychase on 28/06/2021 - 15:07
      +15

      Not just 10 cents dude. If they do this to 1,962,000,000,000 people they’ll be richer than Jeff Bezos in no time

      • Fergy1987 on 28/06/2021 - 15:12
        +19

        Considering there are 7,670,000,000 people in the world - I think the chance of that is highly unlikely.

        • tsunamisurfer on 28/06/2021 - 15:21
          +19

          I think that was the joke.

        • SydStrand on 28/06/2021 - 15:26

          You forgot Sosure's Ferengi clientele

        • BuyOrNot on 29/06/2021 - 14:45

          You forgot to count all the Shiba Inu dogs who have entered the crypto market.

      • JimmyF on 28/06/2021 - 15:12
        -1

        If they do this to 1,962,000,000,000 people they’ll be richer than Jeff Bezos in no time

        Are there even that many people on earth!?

        • Rev0lt on 29/06/2021 - 10:55
          -2

          The joke

          You

      • Quantumcat on 28/06/2021 - 16:42

        Most people will have more money and it will be worth the man-hours to help them withdraw it

    • Kingfield on 29/06/2021 - 16:40
      +3

      Jesus Christ, 10c isn't even worth the effort of making this post (though I guess maybe it is for the entertainment value)

  • apsilon on 28/06/2021 - 15:13
    +4

    They're probably saying that because the transaction fee is greater than the balance.

  • bobbified on 28/06/2021 - 15:14
    +16

    What should I do?

    Yes, go to the ACCC and then get a lawyer. But be prepared to be laughed out the door when you tell them it's all over a whole $0.10.

    Some people are in lockdown, but are you really that bored?

  • arkie0 on 28/06/2021 - 15:14
    +36

    Cant you just deposit $1,000,000,000 then withdraw $1,000,000,000.10?

    • Baysew on 30/06/2021 - 12:03

      There is always a solution to every problem.

  • Daabido on 28/06/2021 - 15:15
    +55

    Is there somewhere I can vote for stupidest post of the year?

    I'll chuck in 10 cents to sooth your loss.

    • Icecold5000 on 28/06/2021 - 16:11
      +1

      The post is not stupid but rather the OP.

    • billy3000 on 28/06/2021 - 19:11

      Let's go 50/50! This is totally ridiculous!

      • orangetrain on 28/06/2021 - 19:57
        +1

        How about 33/33/33?

        • miwahni on 28/06/2021 - 22:43
          +2

          but then someone's shortchanged 1%

  • JimmyF on 28/06/2021 - 15:15

    I then emailed them to get my bitcoins refunded and they replied saying that they can't complete the transaction because my balance is $0.10.

    So 0.0000022 bitcoin?

    There are transaction fees to move money, why don't you offer to pay the transaction fee and then they will happily refund you 0.0000022 bitcoin.

    • Dontdoit on 29/06/2021 - 18:03

      That's 220 Satoshis which could go to a podcaster using podcasting 2.0.

  • netjock on 28/06/2021 - 15:15

    I am sure this is a joke, $0.10.

    Anyways I'm pretty sure like most start ups they probably have more liabilities than assets. It is a good time to close down right now. It was pretty stupid to tie their rewards to bitcoins. They should have done microstrategy which is have a real business and plough their money into bitcoin and hope it goes to the moon.

    Mocrostrategy was issuing bonds to buy bitcoin which could either be a good move if bitcoin rockets but if it goes down another 50% then they are well stuffed.

  • trustnoone on 28/06/2021 - 15:18

    Is there a minimum requirement for withdrawal? Many places I know of have minimum requirements such as $20 or something. There may also be a fee involved, which could be higher then the 10c you're asking? I imagine closure or not, they're holding you to a terms or service agreed when you started the service?

    Is there other people who are having the same problem, with higher amounts of money?

  • Baysew on 28/06/2021 - 15:22
    +3

    OP posted this deal Fee-Free Cryptocurrency Payouts / Wallet Withdrawals until 4 July @ Sosure App Closure

    Normally when you use your crypto to bpay there is a admin fee %. Now there is no fee to transfer to your account.

  • Payne on 28/06/2021 - 15:27
    +11

    Does anyone else remember when troll posts were either funny or at least hard to identify if they were legit?

  • spackbace on 28/06/2021 - 15:34
    +14

    OP tell me you PayPal address and I'll fkn send you $0.10, but charge you $2 for making me read this post

  • hm on 28/06/2021 - 15:41
    +5

    Troll level = sh!t

  • holdenmg on 28/06/2021 - 15:44
    +1

    What can you buy for 10 cents?

  • Mechz on 28/06/2021 - 15:46
    +1

    Can you donate it to an address? Just send it to TPB or OnlyFans or something.

  • Ocker on 28/06/2021 - 15:51

    Are you for real?

  • Hithere on 28/06/2021 - 16:10
    +2

    I recommend you contact Lionel Hutz, he'll take on the case for you.

    https://ibb.co/ScHJFVF

  • wheretobuychocettes on 28/06/2021 - 16:11
    +1

    Is it school holidays already?

  • brendanm on 28/06/2021 - 16:19

    Le ebin troll XD

  • pharkurnell on 28/06/2021 - 16:25

    Troll level 520934802394802394832094

    The fishing in here is off the scale!!

  • GoldenDragon888 on 28/06/2021 - 16:25
    +4

    Can't believe someone is out Paming HelloPam

  • life is suffering on 28/06/2021 - 16:36

    I will pay you 10c to end this suffering my friend

  • Mokr on 28/06/2021 - 16:45

    seven eleven sent me a .7 cent gift card

  • mantra on 28/06/2021 - 17:01

    whenever i make bitcoin transactions, fees added on top, if transaction fees currently $0.50, you'll owe 50 cents before they can send you 10 cents 🙂 so your net profit -$0.40 🙃 prehaps they'll comply if you let them know your willing to pay transaction fees

    i'd imagine everyone elses refunds minus transaction fee

  • pegaxs on 28/06/2021 - 17:35

    Lawyer up! ACCC, ACA, Today/Tonight, Fair Trading, local MP, Twitter, Fartbook, start a mommy blog, local newspaper, sternly worded email… Don't let the bastards get away with it. This is highway robbery… Haqve you considered a GoFundMe or a Patreon?? (Onlyfans perhaps??)

    Oh, and obvious troll is obvious.

    • djones145 on 28/06/2021 - 18:03
      +1

      bikies?
      batman?

  • burningrage on 28/06/2021 - 17:38
    +1

    Don't feed the troll please!!

  • StinksGoDown on 28/06/2021 - 17:43
    +5

    Sorry to break the bad news, but you got rug pulled.

    Firstly, the way the bitcoin is held with these types of institutions is usually in a pooled address rather than in various mini-wallets. If it was not held in such a manner, you should be able to get your 0.0000022 BTC wallet back. It's pretty pointless, but it should exist.

    Most importantly, it would be a pain in the neck to manage those many small wallets of different customers. Therefore, that is even more evidence that you got rug pulled and that the coins are in a larger wallet that could be sold in one transaction and distributed fairly through multiple fiat transactions.

    Should one honour it? Yeah, they should if they want to stay directors of any future company as their names will be broadcasted over the internet and any PR damage to them will most likely sour any business loans they can get in the future.

    It's like the Xinja's failure, they refunded everyone even if they only had $0.01 in the account. That's an honest company. If you setup your company to follow your terms and conditions and you don't, well that's going to be a bummer for future business relationships. If you can't be held for $0.10, how do I know you will pay up on your loans?

    Ultimately, it's going to damage their business relationships, but hey, that's a commercial decision they have made.

    I've not got the time to read through all of it, but it seems like they should comply with whatever terms and conditions they set. Either way, you don't setup a company to reward others when you have no intention to payout those smaller customers. It doesn't really matter what the actual T&Cs are, it's in the principle usually and social media is what will ultimately judge a company.

    Either way, if they can't logically explain to you why the outcome is the way it is. Then you should kick a fuss, no offence to all the others that disagree. This whole system is supposed to be us working together to solve problems. It falls apart when no one can be trusted anymore.

    It would appear prima facie that the notice to redeem your coins is to do so, and the OP has done so. That's why that's satisfied in my opinion even though it does sound absurd, but there shouldn't be any extra fees, and it doesn't cost any more to process this one customer than it does to process any other customer. How can you put a value on each customer? How do you pick them out and say to one is less important than another?

    • Chchnu on 29/06/2021 - 01:23
      -2

      If thats the case they can refund me cos the money held in 1 consolidated account

  • djones145 on 28/06/2021 - 18:01
    +4

    abouste disgusting behaviour
    of they did this to billions of customers they would make millions

    take them to the high Court, spreme court, international criminal Court

    this is worst than war crimes

    unbelievable, go fight for the little men please
    travel to all courts around the world and get justice

    that's all we want

    JUSTICE
    I don't use the word 'hero' lightly, but you are the greatest hero in australian, American , world history

    • spackbace on 28/06/2021 - 18:29
      +1

      It's the vibe

  • rektrading on 28/06/2021 - 18:46

    The median BTC tx fee at this moment is $3.30.

    The DEX should allow their users to withdraw the BTC and make it clear to them that the users are responsible for the tx fee.

    https://txstreet.com/

  • th123 on 28/06/2021 - 19:29
    +2

    What should I do?

    Hit yourself over the head and move on.

    • mazuko on 28/06/2021 - 23:07

      please make sure, hit it right (in the middle of your forehead) with your palm widely open

  • Pelicannn on 28/06/2021 - 22:51

    Everyone hating on OP but nobody realise the lengths OP going to for 10c.

    The real OzB MVP.

    • popsiee on 29/06/2021 - 09:29

      Really !
      Great thinking on the time involved on most likely getting nothing .
      I give up on some people here .
      Yeap that was me .

    • pinkybrain on 29/06/2021 - 16:40

      yeah people are plus voting on $1 to $2 cashback

      so nothing wrong with this..

    • jace88 on 29/06/2021 - 20:06
      +1

      In all seriousness, OzB MVP would be someone who posts great deals… unless you meant the other definition of MVP.

  • RecklessMonkeys on 29/06/2021 - 09:26

    Your post really made me feel for you.
    Surely, we here at OzB can start a fundraiser or something?
    I'll kick things off by pledging 1 cent.

    • Chchnu on 29/06/2021 - 11:44
      -4

      Nah no charity needed. Its the principle. The actual 10c doesnt mean anything to me. Just the fact i followed their instructions and made contact with them and also the right thing to do is for them to refund.

      Also as many mentioned, if they scam like this on 1mil ppl them make 100k

      • pinkybrain on 29/06/2021 - 16:41

        that's the ozbargain spirit…

      • RecklessMonkeys on 29/06/2021 - 22:09

        OK. Sorry. Now I understand.
        Well, if you contact the other 999,999 people with ten cents in their account, you may be able to organise a class action.
        I'm sure the lawyers will do it pro bono.

        They can post a cheque for ten cents out to you.
        How much do stamps cost these days?

  • OzHunterNSW on 29/06/2021 - 10:04
    +6

    Possibly see a psychologist - no seriously.
    Are you ok, do you need mental health care?

  • Bob Svargis on 29/06/2021 - 10:18
    +2

    Are you serious? I'll give you the 10 cents. Heck, I'll give you a dollar.

    • gerrys on 29/06/2021 - 20:14
      +1

      Heck. Ill give him$1.10. Howzat

  • Choc0 on 29/06/2021 - 11:34
    +5

    Hey OP, post your PayID and I'll send you 10 cents and a 280 character message of my choice.

  • rektrading on 29/06/2021 - 12:17

    100k in digital assets is a tiny amount. People on TikTok were making that overnight from March to May.

    Nobody is going to put this much effort to scam a few sats. Ask the DEX to open withdrawals. You can then pay the tx fee and get the sats.

  • cashless on 29/06/2021 - 14:40

    Troll post, move on

  • digitalbargain on 29/06/2021 - 14:44
    +1

    GoFundMe

  • ManaSpade on 29/06/2021 - 15:39

    Wait till he works out it was 0.10 of a bitcoin and they owe him 5k

  • knasty on 29/06/2021 - 15:39

    I had to re-read this post to understand if it truly was about $.10. Now that I've re-read it I've doubled the amount of time I wasted on a post about $.10.

  • striker5950 on 29/06/2021 - 16:18

    this post is pathetic and not worth the time you spent to write it, thanks for the laugh

  • xlimit on 29/06/2021 - 16:31
    +2

    YES! Please lawyer up! Do not let them do this to you! Do not let the other posters here deter you from your life's purpose.

    Complain to the ACCC. The police. You need to go on A Current Affair.

    Fight the cause. Do not let us be subjugated by these corrupt corporations.

    DO NOT LET THEM GET AWAY WITH YOUR $0.10. If they took $0.10 from everyone = $$$MILLIONS

    If they get away it means you did nothing and for that we the people will have lost again. Only YOU can stop them.

  • darkmoss on 29/06/2021 - 16:37

    LOLOLOLOL

  • Lenin on 29/06/2021 - 16:45

    OP, I am in the same situation, a crypto exchange doesn't want to refund my Bitcoin currently valued at $0.01.

    Can please guide through the process of taking a legal action against them?

    Any advice would be appreciated.

  • idonotknowwhy on 29/06/2021 - 18:31

    Hey this 220SAT could be worth $220,000 when bitcoin goes to the moon!

  • HeWhoKnows on 29/06/2021 - 18:37

    Another ridiculous time-wasting post

  • lltravel on 29/06/2021 - 19:16

    they are holding 0.001 cents

    lets band together and take them to court!

    LOL

  • SuperMid on 29/06/2021 - 19:55
    +1

    i always thought some people on these forums were cheap morons, this thread absolutely proves it.

  • Mr Random on 29/06/2021 - 20:29

    I’ll give you the benefit of the doubt and assume this is a legitimate post in which you are more concerned about this happening to tens of thousands of individuals which can equate to large sums of money.

    I’ll also assume, based on my quick search on SoSure that this is a rewards based app, which assigns a small btc value to its users for various actions.

    I’ll also assume (a lot of assuming going on…) one last time that you have not got a lot of experience in dealing with cryptocurrencies.

    In order to transfer bitcoin, you must pay a fee. This fee will be substantially higher than 10 cents, which is why you will be unable to withdraw it.
    On top of this, if each user has their own btc account created for them, one would hope SoSure does not hold onto private keys. If this is true, they would not have access to your funds anyways.

    So to summarise, IF they have access to the wallet where funds are kept for you, they would need to transfer enough of their own money into this account in order to accommodate transfer fees for a measly 10 cents. And this would have to be done for ALL accounts with minor balances, as it’s unlikely (or not even possible) to run something like this via a single wallet.

    Hope this helps.

  • Pandabargain on 29/06/2021 - 21:59
    -1

    Tell me where you live and I'll send some ozbargain bikes around with 10,000 10 cent coins.

  • Lexus101 on 29/06/2021 - 23:08

    Dude…. You must have too much time on your hands WFH.

  • bobolo on 30/06/2021 - 00:24

    This post makes me sad…one day when you are on your death bed, I hope you will have fond memories of chasing a company for 10c

  • NotBritishorUK on 17/07/2021 - 16:01

    They shut down completely without refunding my $180, all mails and numbers not working, anything I can do?

    • rektrading on 17/07/2021 - 17:05

      Try here.

      https://www.sosure.com.au/contact.html

    • Chchnu on 17/07/2021 - 18:15

      Did you message them before july 4?

      • NotBritishorUK on 17/07/2021 - 19:03

        Yep, but I also queried whether they are still continuing with reduced features

        They came back to me to say because of the reduced features they recommend just closing the account

        Then they shut the whole thing down, not just reduced features, without giving me anything

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