Revolut Under Fire After User Loses $1,500 in Crypto Transfers

Bulgarian crypto user Tzoni Raykov experienced a significant financial loss after a failed transfer attempt on Revolut. While initially able to successfully move $10 worth of cryptocurrency through the Polygon network, he encountered complications with a subsequent attempt to transfer $1,500. The error stemmed from mistakenly selecting the ‘Polygon (bridged)’ option, which led to an incompatibility issue and prevented the funds from reaching Raykov’s account. Revolut acknowledged that their platform has limitations on supporting all token and network combinations due to technical constraints. They emphasized that recovering such unsupported assets falls outside of their operational capabilities. Despite these technical limitations, Raykov voiced dissatisfaction with the lack of clarity regarding his situation. This incident has sparked a broader discussion on the challenges associated with transferring crypto across different networks, prompting users to carefully align the network and asset versions with their recipient’s platform.