Why Women Are More Burned Out Than Men

Statistics show that stress and burnout are affecting more women than men en masse. Why – and what happens next?

When Jia, a Manhattan-based consultant, read Sheryl Sandberg’s bestselling book Lean In in 2014, she resolved to follow the advice espoused by the chief operating officer of Facebook.

“I’d just graduated from an Ivy League business school, was super pumped up and loved the idea of leaning in,” says Jia, whose last name is being withheld to protect her professional reputation. “Learning to self-promote felt so empowering, and I was 100% ready to prove that I was the woman who could have it all: be a high-powered career woman and a great mother.”

But today, the 38-year-old strikes a different tone. For years, she says, she feels like she’s been overlooked for promotions and pay rises at work on account of her gender, particularly after becoming a mother in 2018. Since then, she’s picked up the brunt of childcare responsibilities because her husband, who is a banker, has tended to travel more frequently for work. That, she adds, has given her a misguided reputation among her colleagues and managers – the majority of whom are male – for not being professionally driven.

Then when Covid-19 hit, it was as if all the factors already holding her back were supercharged. When her daughter’s day care closed in March 2020, Jia became the default caregiver while trying to stay afloat at work. “I was extremely unmotivated because I felt like I was spending all hours of the day trying not to fall off an accelerating treadmill,” she explains. “But at the same time, I felt like I was being trusted less and less to be able to do a good job. I could feel my career slipping through my fingers and there was absolutely nothing I could do about it.”

In early 2021, Jia’s therapist told her she was suffering from burnout. Jia says she’d never struggled with her mental health before. “But now I’m just trying to get through each week while staying sane,” she says.

Jia’s story is symptomatic of a deeply ingrained imbalance in society that the pandemic has both highlighted and exacerbated. For multiple reasons, women, particularly mothers, are still more likely than men to manage a more complex set of responsibilities on a daily basis – an often-unpredictable combination of unpaid domestic chores and paid professional work.

I could feel my career slipping through my fingers and there was absolutely nothing I could do about it – Jia

Though the mental strain of mastering this balancing act has been apparent for decades, Covid-19 has cast a particularly harsh light on the problem. Statistics show that stress and burnout are affecting more women than men, and particularly more working mothers than working fathers. This could have multiple impacts for the post-pandemic world of work, making it important that both companies and wider society find ways to reduce this imbalance.

Unequal demands

Recent data looking specifically at burnout in women is concerning. According to a survey by LinkedIn of almost 5,000 Americans, 74% of women said they were very or somewhat stressed for work-related reasons, compared with just 61% of employed male respondents.

A separate analysis from workplace-culture consultancy a Great Place to Work and health-care start-up Maven found that mothers in paid employment are 23% more likely to experience burnout than fathers in paid employment. An estimated 2.35 million working mothers in the US have suffered from burnout since the start of the pandemic, specifically “due to unequal demands of home and work”, the analysis showed.

Women tend to be dealing with a more complex set of work and personal responsibilities, leading to stress (Credit: Getty)

Experts generally agree that there’s no single reason women burn out, but they widely acknowledge that the way societal structures and gender norms intersect plays a significant role. Workplace inequalities, for example, are inextricably linked to traditional gender roles.

In the US, women still earn an average of about 82 cents for each dollar earned by a man, and the gap across many countries in Europe is similar. Jia’s firm does not publish its gender pay-gap data, but she suspects that it’s significant. Moreover, she thinks many of her male peers earn more than her, something that causes her a huge amount of stress.

“The idea that I might be underselling myself is extremely frustrating, but I also don’t want to make myself unpopular by asking for more money when I’m already pushing the boundaries by asking my company to make accommodations for me having to care for my daughter,” she says. “It’s a constant internal battle.”

Research links lower incomes to higher stress levels and worse mental health in general. But several studies have also shown more specifically that incidences of burnout among women are greater because of differences in job conditions and the impact of gender on progression.

In 2018, researchers from University of Montreal published a study tracking 2,026 workers over the course of four years. The academics concluded that women were more vulnerable to burnout than men because women were less likely to be promoted than men, and therefore more likely to be in positions with less authority which can lead to increased stress and frustration. The researchers also found that women were more likely to head single-parent families, experience child-related strains, invest time in domestic tasks and have lower self-esteem – all things that can exacerbate burnout.

Nancy Beauregard, a professor at University of Montreal and one of the authors of that study, said that reflecting on her work back in 2018, it’s clear that Covid-19 has amplified the existing inequalities and imbalances that her team demonstrated through their research. “In terms of [the] sustainable development of the human capital of the workforce,” she says, “we’re not heading in a good direction.”

A pandemic catalyst

Brian Kropp, chief of human resources research at Gartner, a global research and advisory firm headquartered in Connecticut, US, agrees that while many of the factors fueling women’s burnout were in play before the pandemic, Covid-19 notably exacerbated some as it forced us to dramatically overhaul our living and working routines.

When the pandemic hit, many women found that their domestic responsibilities surged – making juggling work even harder (Credit: Getty)

Structures supporting parents’ and carers’ lives closed down, and in most cases, this excess burden fell on women. One study, conducted by academics from Harvard University, Harvard Business School and London Business School, evaluated survey responses from 30,000 individuals around the world and found that women – especially mothers – had spent significantly more time on childcare and chores during Covid-19 than they did pre-pandemic, and that this was directly linked to lower wellbeing. Many women had already set themselves up as the default caregiver within their households, and the pandemic obliterated the support systems that had previously allowed them to balance paid employment and domestic work.

That’s exactly what Sarah experienced in March 2020, when schools across New York first closed. “Initially the message was that schools would stay closed until the end of April, so that was my target: ‘Get to that point and you’ll be fine’,” recalls the Brooklyn-based 40-year-old. Now, more than 18 months into the pandemic, her two sons, aged 6 and 9, are only just reacquainting themselves with in-person learning, and Sarah’s life has changed dramatically.

In April 2020, for the first time ever, she started suffering from anxiety. The pressures of home-schooling her children while working as marketing executive for a large technology company overwhelmed her. She couldn’t sleep, worried constantly and felt depressed. Worst of all, she felt like whatever she did was inadequate because she didn’t have enough time to do anything well.

Six months into the pandemic, it was clear something had to change. Sarah’s husband, a lawyer, was earning much more than her, and had done so since they got married in 2008. So, in August 2020 the couple jointly decided that Sarah would leave her job to become a stay-at-home mother. “Before this, I never really knew what being burned out meant,” she says. “Now I know beyond a shadow of a doubt.”

Sarah’s experience is emblematic of a much broader trend. In September last year, just as the pandemic was gaining pace, more than 860,000 women dropped out of the US workforce, compared with just over 200,000 men. One estimate put the number of mothers who had quit the US workforce between February and September last year at 900,000, and the number of fathers at 300,000.

As women lost crucial social lifelines during lockdown which may have been emotional and physical outlets for stress, it’s clear that the abrupt avalanche of extra domestic responsibilities pushed many who were already busily juggling home and work life further than they could go.

‘What’s the cost?’

One of the greatest concerns workplace experts harbour is that poor mental health among women in the workplace could discourage future generations from setting ambitious professional goals, particularly if they want to start a family. That could exacerbate the gender inequalities that already exist in terms of pay and seniority in the labour market.

Data indicate that this is indeed a legitimate concern; statistics collected by CNBC and polling company SurveyMonkey earlier this year showed that the number of women describing themselves as “very ambitious” in terms of their careers declined significantly during the pandemic. Data from the US Census Bureau shows that over the first 12 weeks of the pandemic, the percentage of mothers between the ages of 25 and 44 not working due to Covid-19-related childcare issues grew by 4.8 percentage points, compared to no increase for men in the same age group.

In terms of [the] sustainable development of the human capital of the workforce, we’re not heading in a good direction – Nancy Beauregard

Equally, there are concerns about how new ways of working such as hybrid could impact on workplace gender equality. Research shows that women are more likely than men to work from home in a post-pandemic world, but there’s evidence that people who work from home are less likely to get promoted than those who have more face-time with managers. “Women are saying, I’m working just as hard and doing just as much, but because I’m working from home, I’m less likely to get promoted,” says Kropp. “That’s extremely demotivating.”

Dean Nicholson, head of adult therapy at London-based behavioural health clinic The Soke, suggests that perceptions of fairness – or otherwise – could impact on women’s workplace participation. “When the balance of justice is skewed against us in the workplace, then it’s invariably going to lead to negative feelings, not just towards the organisation, but in the way that we feel about ourselves and the value of our contribution, as well as where we’re positioned on a hierarchy of worth.”

To prevent an exodus of female talent, says Kropp, organisations must appreciate that old workplaces practices are no longer fit for purpose. Managers need to fundamentally rethink how companies must be structured in order to promote fairness and equality of opportunity, he says. That means pay equality and equal opportunities for promotion, as well as creating a culture of transparency where everyone – mothers, fathers and employees who are not parents – feels valued and can reach their professional potential while also accommodating what’s going on at home.

Steve Hatfield, global future of work leader for Deloitte, notes that mothers, especially those in senior leadership roles, are extremely important role models. “The ripple effect of what they’re seen to be experiencing right now has the potential to be truly profound on newer employees, and so it’s up to organisations to prove that they can accommodate and cater to the needs of all employees,” he says.

As such, Hephzi Pemberton, founder of the Equality Group, a London-based consultancy that focuses on inclusion and diversity in the finance and technology industry, emphasises the need for managers to be trained formally and to understand that the initiative to create a workplace that’s fit for purpose must come from the employer rather than the employee. “That’s absolutely critical to avoid the risk of burnout,” she says.

But Jia, who says she’s now on the brink of quitting her job, insists that notable changes need to happen in the home as well as the workplace. “What’s become abundantly clear to me through the pandemic is that we all have a role to play in understanding the imbalances that are created when stereotypical gender roles are blindly adhered to,” she says. “Yes, of course it sometimes makes sense for a woman to be the default caregiver or to take a step back from paid work, but we need to appreciate at what cost. This is 2021. Sometimes I wonder if we’re in the 1950s.”

By Josie Cox

Source: Why women are more burned out than men – BBC Worklife

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Krispy Kreme Just Sweetened Its Free Doughnut Promo For Vaccinated People

Krispy Kreme is ramping up its efforts to encourage customers to get the COVID-19 vaccine. This week, the company unveiled its second free doughnut promotion for vaccinated people, and it’s even sweeter than the first one.

Two days after the U.S. Food and Drug Administration gave full approval to the Pfizer vaccine, Krispy Kreme announced that customers who show proof of vaccination will be able to get two free doughnuts every day at their local store between Aug. 30 and Sept. 5, and and one free doughnut daily for rest of year.

Customers who have received at least one vaccination shot are eligible for the weeklong “Show Your Heart” offer and can choose from the chain’s Original Glazed Doughnut or a limited-edition Original Glazed Heart Doughnut. The special heart-shaped treat will also be available for sale throughout the week.

In March, Krispy Kreme launched its first free doughnut promo and announced that customers who had received at least one jab and show a valid vaccine card could score a free glazed doughnut every day at participating locations through the end of 2021.

The campaign has been quite popular (Krispy Kreme has given away 2.5 million+ Original Glazed doughnuts so far), and it’ll continue through the end of the year. But the company was inspired to step things up a bit once the FDA officially approved the Pfizer vaccine.

“We all hoped we’d be near the end of this pandemic by now. We’re not,” Krispy Kreme’s chief marketing officer Dave Skena said in a press release. “So, please consider getting vaccinated if you’ve not done so already. And then enjoy and share two amazing doughnuts with our heart-felt thanks.”

Krispy Kreme started the trend of incentivizing customers to get the vaccine by offering edible freebies. In April, many other companies followed suit, including Shake Shack, Budweiser and Nathan’s Famous.

But not everyone was eager to cash in on the sugary doughnut deal. Shortly after Krispy Kreme launched the promo, the company faced backlash from some critics who argued that the offer discriminated against those who don’t want the vaccine.

At the time, Krispy Kreme addressed vaccine hesitancy, calling it “a highly personal decision.” The chain also offered a free coffee and doughnut to all customers on Mondays through May 24, whether or not they were vaccinated.

Other critics expressed concern about the health effects of a free daily doughnut. In response to this sentiment, writer Kate Bernyk penned an NBC News op-ed arguing that it was a form of fat-shaming and food-shaming.

“I think for me, it wasn’t about the doughnut,” she wrote. I think that it’s just another opportunity to pass judgment on someone’s choices or the way someone looks.”

TODAY Food asked Krispy Kreme CMO Dave Skena what inspired the company to release this second doughnut promo, despite the backlash it had received in previous months, and he explained that the chain is passionate about “Acts of Joy.” He also referenced the other free doughnut promotions the company has rolled out for health care workers, students, teachers and other groups throughout the pandemic.

“We are a warm and generous brand. Providing free Original Glazed doughnuts to those who get vaccinated is another gesture that we hope sweetens people’s lives as the country tries to put this virus behind us,” said Skena.

“Like many sweet treats, our doughnuts are an occasional indulgence best enjoyed in moderation and we know that’s how most of our guests enjoy them,” he added. “We’re certainly not asking people to get a free Original Glazed doughnut every day; we’re just making it available through the end of the year to show support to those doing their part to make the country safe by getting vaccinated.”

By:

Source: Krispy Kreme just sweetened its free doughnut promo for vaccinated people

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How To Get Your Team To Stop Asking You Every Little Question

You’re finally in the flow, typing away and making progress on that strategy document. And then a team member IMs you a question. And then another one pops up. Before you know it, your afternoon is gone and you’ve made no progress. Sound familiar?

In order to make time for reflective thinking, managers need to facilitate their team members’ independence. This is especially important if your team is not physically together, because “quick questions” sent through team chat channels can otherwise be endless.

Start by analyzing the problem. What are the reasons your team members feel they need your input? Is it because they don’t have the confidence to make decisions on their own? Because they fear reprisals if they make the “wrong” decision? Because they are unqualified or inexperienced? Categorizing the types of issues can be helpful to recognizing patterns and taking corrective action.

Once you understand what they’re coming to you about, then you need to determine why, and what role you play in that. Does your behavior enable, or even encourage, your staff to bring you every little “speed bump” in their day? Does it lead them to believe that you are the only one who is authorized to solve problems or make decisions? Does the way you interact with them cause them to lack confidence in their own judgment or make the limits of their authority unclear to them? Do they have good reason to fear making a mistake?

Below are ideas you can implement in four specific categories that will empower your employees while promoting your own productivity.

1. Put an emphasis on attention management.

Start by identifying whether an “open-door policy” is something that is stated or promoted in your organization. If so, make it explicit with a clear definition. Of course it’s important for leaders to be available to their teams. But “being available” shouldn’t come at the cost of everyone’s work being interrupted unpredictably, all throughout the day. An open-door policy was never intended to mean that anyone is available to be interrupted at any time for any reason.

A better implementation is to be clear that everyone in your organization should be considered accessible, but not necessarily constantly available. Individual team members need to provide signals about when they are available to be interrupted, and when they aren’t. And the culture needs to support this undistracted work time.

In a virtual situation, encourage the team to practice attention management by periodically closing their email client, putting their phone on silent and out of sight, and setting their chat tools to “do not disturb.” You should model this behavior, because if you never do it, your team won’t either, no matter what you say.

In the office, indicate your do-not-disturb times with some sort of signal, and empower your team to do the same: You could use a do-not-disturb sign, a cubicle flag, or headphones, for example. Everyone should know what the signals are and what they mean. Then be judicious about putting them up to create undistracted work time, and taking them down when you’re willing to allow interruptions.

These scenarios might seem impossible at your organization. In that case, you need to look at the way communication flows. Put a focus on creating a culture that supports asynchronous communication, where the conversation isn’t always “live” but people can chime in when it’s best for their work flow. My favorite team collaboration tool, Twist, offers a great guide for how to do that.

2. Promote self-confidence in your staff.

Set boundaries for your employees, making sure they understand the responsibilities of their role, the types of decisions they can and should make on their own, and the general limits of their authority. Then, encourage them to find their own solutions to day-to-day problems. Instead of answering questions, try using the phrase, “I trust your judgment.” The more successful your direct reports are in solving their problems on their own, the more their confidence will grow. This is a great way to develop your team members while also increasing your own opportunities for undistracted work time.

One thing that can interfere with your team’s autonomy is if you’re the kind of manager who likes having a lot of control, and being involved in every decision. This kind of micromanaging is a burden on you and stifles your team’s growth. You can’t do everyone’s job for them, nor should you. Empower your team members to make their own decisions. If you are unsure whether you are micromanaging, ask a trusted peer or former employee to give you honest feedback.

3. Embrace the tough decisions.

If there are employees whose judgment you don’t trust, try to understand why, so you can find remedies. Do the employees have a gap in their skill sets? Would additional training help? Is the person new to the organization? Perhaps more time is needed to “learn the ropes.” Maybe finding a mentor or “buddy” on the team would be helpful. But set a time limit on this.

Occasionally, you may find you’ve made a hiring mistake. The hardest questions to face are whether you have the right person in the wrong role, or whether the person isn’t a good fit for the organization. Don’t drag your feet here. Make it a win for you and the employee by helping the person find another role at your organization, or a new job somewhere else. This will enable you to cut your losses, as well as help develop your company’s reputation as a good place to work.

4. Create a safe environment to make mistakes.

If there are serious, unpleasant consequences to honest mistakes, your organization has a “CYA culture,” where people aren’t coming to you because they want your input, they’re just looking for a way to shift any future blame. This will stifle growth and prevent your organization from being adaptable. Remember the old adage, “Praise in public, correct in private.” Speak to team members privately when one of their solutions does not provide the best outcome. Emphasize the idea that mistakes are opportunities to learn.

Hold team members accountable to their decisions by using mistakes as teaching opportunities. Call attention to the lesson learned, and make sure it sticks, but if the decision was ethical and made in good faith, be supportive and empathetic.

By implementing these four strategies, you’ll be able to minimize interruptions from your direct reports, and you’ll create more opportunities to focus on the thoughtful work your leadership position demands. In the process, you’ll inspire confidence, innovation, and creativity in your team members. When you empower your team to work more independently, you improve as a leader and ultimately, you contribute more to the success of the organization.

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Critics:
Team management is the ability of an individual or an organization to administer and coordinate a group of individuals to perform a task. Team management involves teamwork, communication, objective setting and performance appraisals. Moreover, team management is the capability to identify problems and resolve conflicts within a team. There are various methods and leadership styles a team manager can take to increase personnel productivity and build an effective team. In the workplace teams can come in many shapes and sizes who all work together and depend on one another.
They communicate and all strive to accomplish a specific goal. Management teams are a type of team that performs duties such as managing and advising other employees and teams that work with them. Whereas work, parallel, and project teams hold the responsibility of direct accomplishment of a goal, management teams are responsible for providing general direction and assistance to those teams.

Team building activities

Team-building activities are a series of simple exercises involving teamwork and communication. The main objectives of team building activities are to increase trust amongst team members and allow team members to better understand one another. When choosing or designing team-building activities it is best to determine if your team needs an event or an experience. Generally an event is fun, quick and easily done by non-professionals. Team building experiences provide richer, more meaningful results. Experiences should be facilitated by a professional on an annual basis for teams that are growing, or changing.

What makes teams effective

Team effectiveness occurs when the team has appropriate goals to complete and the confidence to accomplish those goals. Communication is also a large part of effectiveness in a team because in order to accomplish tasks, the members must negotiate ideas and information. Another aspect of effectiveness is reliability and trust. When overcoming the “storming” phase of Bruce Tuckman’s stages of group development, trust is established, and it leads to higher levels of team cohesion and effectiveness.

If there is a conflict, effectiveness allows cohesion and the ability to overcome conflict. Specifically in management teams, more weight falls on their shoulders because they have to direct and lead other teams. Being effective is a main priority for the team or teams involved. Unlike non-managerial teams, in which the focus is on a set of team tasks, management teams are effective only insofar as they are accomplishing a high level of performance by a significant business unit or an entire firm.Having support from higher-up position leaders can give teams insight on how to act and make decisions, which improves their effectiveness as well.

See also

 

Google Advertising Policy Opens Doors To Wider Bitcoin Community

The Google logo seen at the entrance to Google Cloud campus...

Google GOOG +1.5% is revising its advertising policy to let cryptocurrency wallets advertise with them, along with exchanges, starting August 3rd provided that they are either registered with the Financial Crimes Enforcement Network (FinCEN) or a federal or state chartered bank entity. The new policy will apply globally to Google search and its third-party sites, including YouTube, Gmail, or Blogger..

The expanded policy comes three years after Google banned all crypto-related advertising in March 2018. However, Google walked-back the policy five months later, allowing regulated cryptocurrency exchanges such as Coinbase to advertise in the United States and Japan in September 2018. While expanded to allow cryptocurrency exchanges and wallets to advertise, ads for initial coin offerings (ICOs), decentralized finance (DeFi) trading protocols, or promotions of specific cryptocurrencies are not permitted under the new policy.

It remains to be seen how this reversal in the policy will lead to a further loosening on other major advertising platforms that have placed restrictions on crypto firms. In 2018, Facebook banned all ads promoting cryptocurrencies, including bitcoin and initial coin offerings.

A few months later, Facebook edited the policy to introduce an eligibility review process for those looking to advertise certain cryptocurrency products or services; applicants should submit any licenses, listings on public stock exchanges, or other relevant public background.

Twitter, similarly to Facebook and Google, prohibits the advertisement of initial coin offerings or crypto token sales but allows exchanges or wallet services provided by a publicly traded crypto company to advertise with them provided as long as they comply with local laws.

BY: Emily Mason

Source: Google Advertising Policy Opens Doors To Wider Bitcoin Community

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Alphabet Inc.’s Google, the world’s largest digital advertising seller, will let companies offering cryptocurrency wallets run ads beginning in August.

In 2018, Google barred ads for cryptocurrencies and related products, following a similar move from Facebook Inc. But Google soon peeled back that restriction for digital currency exchanges. Starting in August, Google will let wallets run ads on search, YouTube and other properties as long as they go through the company’s certification process.

Google is making the change “in order to better match existing FinCEN regulations and requirements,” a spokesperson said Wednesday in a statement.

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BlockFi Mistakenly Deposits Outsized Bitcoin Payments

In this photo illustration the cryptocurrency exchange...

BlockFi, the crypto lending and trading business, mistakenly deposited large amounts of crypto to user accounts. The payments were associated with a promotion they were running, in which users would receive bonuses in USD stablecoins.

The promotion was intended to be “paid out in one lump sum in GUSD” according to their website. Instead, some accounts were paid the amount denominated in Bitcoin, with some receiving over 700 BTC (worth >$28,000,000 at current prices).

A screenshot from one affected user who withdrew the funds shows threat of possible legal action should they not be returned, and a pay-out of $500 should they return them by a set time.

BlockFi clearly has their hands full dealing with the mistakenly deposited bonus payments, and users have reported experiencing additional issues with the company’s services. The BlockFi subreddit is full of posts with individuals receiving the mistaken funds, having difficulty withdrawing, and being unable to trade. One user claims to have been falsely accused of withdrawing mistaken funds after withdrawing USDC which he or she had been deposited a month earlier.

A statement by BlockFi, noted that “fewer than 100 clients were incorrectly credited,” and “BlockFi has contacted these clients and is working with them to rectify the issue.”

There are risks with using centralized services like lending platforms and exchanges—these are especially well known by early Bitcoiner’s who have witnesses a great number of hacks, exit-scams, and insolvencies wipe out customer funds held by large custodians.

BlockFi claims that “client funds are not impacted and are safeguarded.” After raising a recent $350 million funding round, the company likely has large pools of capital to pull from should they be unable to recoup any of the mis-credited funds from users who withdrew to personal wallets.

BlockFi’s previous promotion was, indeed, a friend referral promotion which offered (albeit small) BTC rewards.

I am the Director of Research and Development at Inca Digital, a data and intelligence provider in the digital asset space. I use Inca’s proprietary data system, NTerminal, to aggregate and analyze structured and unstructured data.

Before Inca, I helped start up a pharmacogenetics laboratory and worked in neurodegenerative research. My scientific background influences the way that I think about complex systems such as blockchain networks, and the models used to understand them.

Source: BlockFi Mistakenly Deposits Outsized Bitcoin Payments

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Reversing the excess bitcoin rewards

One user who reached out to CoinDesk said they received a large sum of BTC in their account which they thought was a reward for referring their friends – so they sent it to their cold storage wallet. BlockFi’s previous promotion was, indeed, a friend referral promotion which offered (albeit small) BTC rewards.

The user said after looking at the transaction in more detail, they realized it was an error, so they requested a cancellation of the withdrawal. The cancelation request was confirmed via email and their account shows the BTC transaction was reversed, with a note specifying they had reversed the bonus transaction. Nevertheless, the user said the bitcoin reward ended up in their cold storage wallet. They shared these documents with CoinDesk, and the blockchain shows that the funds were indeed transferred to their wallet address.

The next day, they received a phone call and an email (which CoinDesk has reviewed) from BlockFi threatening legal action if they didn’t return the funds, but also offering $1,000 worth of the stablecoin GUSD for any trouble this may have caused.

Other users on Reddit posted images of BlockFi’s “generous” giveaway, with one deposit amounting to over 700 BTC. That transaction, according to the user, was reversed. Another said their friend received 5 BTC and was, in fact, able to move it off the platform.

Yet another user said they received both BTC and GUSD, only to have the BTC reversed. The GUSD remained, but a couple of days later when they tried to withdraw some USDC (+0.09%), a different stablecoin they had deposited a month earlier, BlockFi sent an email accusing them of withdrawing funds that weren’t theirs.