PANews June 11th News: According to CryptoSlate, the Bitcoin Lightning network wallet Alby has recently been boycotted by users due to the issue of “inactivity fees”.
Many users have reported that the funds in their accounts were deducted without active authorization. For instance, Yu Xian, co-founder of blockchain security firm Slow Fog, said that his Alby wallet account was deducted about 192 US dollars. However, it was reported earlier that he had retrieved the assets that were transferred out.
The crux of the dispute lies in the updated terms of service by Alby on May 1st. This clause stipulates that for accounts that have not been active for 12 consecutive months, an inactive fee will be charged. That is, Alby has the right to deduct the entire remaining balance from old Alby accounts created in 2023 or earlier and using the shared wallet architecture after there has been no transaction activity for 12 consecutive months. Some users reported that they failed to notice the email notifications sent by Alby in time, resulting in the deduction of funds, with the highest single deduction reaching $5,400.
Luke Gao, the founder of Lnfi Network, clarified that this was a measure for Alby’s transition to the self-hosted model, and the funds could still be recovered through customer service. However, the community criticized this practice, arguing that it was suspected of misappropriating users’ assets in a disguised manner.
Related topic:
