Hello fellow bisq users,
Yesterday I noticed an offer from a BTC seller for 0.125 BTC and I deposited 0.0126 BTC in the multisig wallet to take it.
When my deposit reached one confirmation I received the banking information of my counterparty to send the money. This time there was a company on the other side with “liteforex” in their name.
This seemed very shady to me. Why would a registered investments company trade BTC on a platform built for privacy and evading KYC/AML regulations? After some thinking I decided it would be better not to get my bank account info messed up in this (in case they get investigated or something).
So I opened a dispute and explained my reasons for wanting to stop the trade. I also told the arbitrator in advance that I agreed to lose my transaction and trade fee and that I wanted to cover the trade/transaction fees of my counterparty.
An hour later the arbitrator tells me it’s possible to cancel the trade but that there will be a fee.
Today the ticket is closed with the message: “I will cancel the trade now but know that you will lose the deposit.”
I understand losing my trade and transaction fees and paying for those of my counterparty, but losing my complete deposit? That seems a bit unfair… My deposit was 0.0126 BTC while my counterparty perhaps lost 1/10th of that in costs.
Can somebody explain the arbitrator’s behaviour to me?