So, I think I have a rather unique situation.

I started out playing full tilt with another player transferring money to me and have since built up a roll without using my deposit bonus.

Now I have decided to take advantage of that bonus. My question is though, would it be wrong, exploitable, etc. for me to deposit to get the money to get the bonus and then soon afterwards withdraw that same amount of money?

More importantly, would I get punished for doing so?

You can still get the first deposit bonus. Search around this forum; there have been many other threads about this exact situation and some of them should have some follow-up on how things worked out.

As for depositing the money, FTP will probably not let you withdraw until you play a certain amount (based on how many FTPs you've earned). This is standard.

Deposit $600 to gain the max bonus, or don't deposit at all. Save up until you can get $600. If you have $600+ on FTP right now, you might even think to cash out some and deposit $600 of what you just cashed out (obv not right away).

interesting, seems to make logical sense.

I did do a quick search to try and find some answers, guess I didn't look hard enough.