BlockFi costly mistake

Being a user of blockfi i ‘ m little worried when i see news like that

It seems Blockfi screwed up and sent hundreds of Bitcoins to some users. 

Some users only notice it after blockFi took them back from their account and some others were nice enough to contact blockFi for them to take them back…. Nevertheless it raises some concerns.

I’m using their service and I’m worried about the impact of this mistake on their financial stability. I’m also worried it could lead them to use some of their customers’ funds to cover the impact of this mistake.

Some people are also concerned about the fact that blockFi took back the Bitcoin from their account without notifying them. In other words they realized that they are not fully in control of their coins. I’m not worried about that since the deal is you lend your coins to BlockFi so no surprise you are no longer in control…

Unlike Bank transfer you can not easily cancel a Crypto transfer and unlike banks your funds are not insured on BlockFi by FDIC. For now I will just limit my holding on BlockFi to 25k GUSD and 20kUSDC to reduce my risk.

	BlockFi	Gemini
GUSD	25k
USDC	20k
DAI		25k