HODLHODL - never use paypal!!! SCAM Alert \ stacker news ~bitcoin

HODLHODL - never use paypal!!! SCAM Alert

493 sats \ 33 comments \ @Catcher 23 Jul bitcoin

So, as they say, idiot and bitcoin are soon parted or something like that.

It happened so that I had a personal black swan event, where the car, the teeth, the house, the parent's health - all falling apart within a week. Ended maxing up my overdraft and still was out of required money. So that's why we need savings, right? As all of my savings are in Bitcoin, I had to use some of it to cover the required amount and decided to sell it on hodlhodl. Not really familiar with the platform as was buying on it 1 time, I just sorted by best available offers and chose 1st one with a 100% rating and 8 successful trades, sounds good - right? Entered details, locked btc, received the money via PayPal - had a nice chat with the seller, left a 5 start review and closed the browser. Only to get an email couple of min later that the buyer opened an ticket:

I was devastated, I opened the link and replied on the case providing detailed explanation what happened and where. Only to find out that 10 min later Paypal decided to

Half an hour on the chat support with paypal - and no luck. I cannot give them confirmation of the purchase that they want - there is a hodlhodl chat, but no personal info so no proof. They told me to wait 72 hours, but I don't believe there is any outcome. Suggested me to file the police report, but I don't think it can go anywhere.

Bad luck guys, never use Paypal there, transaction can be reverted in like 10 min

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41 sats \ 1 reply \ @JesseJames 23 Jul

Sad story, but I hope you learned your lesson. Never use PayPal for anything, period. They are the worst scammers of the world and they have a license to steal and report you for non-compliance... Stay "da F#%%@" away from them. Harsh reality, I know. Now, you do too.

21 sats \ 0 replies \ @Catcher OP 23 Jul

I mean they literally provide you all the tools to scam sellers:/

32 sats \ 0 replies \ @IamSINGLE 23 Jul

I've never used it and will never used it knowing this. Thanks for informing!!

11 sats \ 1 reply \ @BitcoinAbhi 23 Jul

Paypal is such a big brand then how can this happen to you?

0 sats \ 0 replies \ @Catcher OP 23 Jul

Apparently you can reverse a transaction under buyer protection service and then it's a seller who needs to prove they actually sold something. Basically you can go to garage sale, buy all the stuff, get back home, reverse all transactions and say it never happened. Then all the sellers will need to prove you were actually there and received the goods. I heard about it, but I never knew you could reverse it in 10 min without even providing any info. The guy who scammed me left the reason / comment section blank and still got his money back in 10 min.

31 sats \ 3 replies \ @Signal312 23 Jul

Wow, that sucks.

How do they juice their reputation metrics on HodlHodl? Just trading with themselves, or associates, probably?

Would doing a friends/family (not-cancelable) transaction be preferable?

I don't touch Paypal ever since they had that thing about banning users that promote "misinformation".

21 sats \ 2 replies \ @Catcher OP 23 Jul

I have 2 theories - 1. They did 7 good deals and scammed only the 8th. 2. They created 7 fake accounts to do 7 fake deals on themselves. I know about friends and family stuff but I didn't know how to check it, I just gave my PayPal username and received the money. In any case hodlhodl needs to remove PayPal option.

21 sats \ 1 reply \ @Signal312 23 Jul

I know someone who was using paypal to receive payments for a commercial service. He would only accept payments via the Friends and Family setting, which was supposed to be non-cancelable.

If there's a HodlHodl user group or telegram group, maybe you could write up your experience there. Maybe they would have advice

21 sats \ 0 replies \ @Catcher OP 23 Jul

I didn't know you can limit incoming transactions to be friends and family. Hodlhodl already replied to me, there is nothing I can do now but to chase PayPal to prove somehow I'm the good guy and not the other way around.

21 sats \ 2 replies \ @Bell_curve 23 Jul

I am so sorry I am so angry that PayPal screwed you and the hodl hodl douchebag

21 sats \ 1 reply \ @Catcher OP 23 Jul

Thank you, I still can't believe they can make decisions on money clawbacks automatically, it's literally a golden mine for scammers.

0 sats \ 0 replies \ @Bell_curve 23 Jul

I've been screwed by PayPal as a seller and buyer

My friends have nightmare stories about PayPal as well

PayPal has become a mafia

21 sats \ 1 reply \ @TheBTCManual 23 Jul

Horrible, but nothing you can really do,

Some P2P platforms like peach only allow you to do paypal if you've reached a certain volume on other payment methods first and others only do friends and family transfer so there's no charge back option

P2P platforms have a bunch of scammers on there willing to juice their own metrics to look good, I've already been flagged by these groups on my nyms and they quick to cancel trades with me

So far robosats has been the best experience P2P although liquidity is pretty small

21 sats \ 0 replies \ @Catcher OP 23 Jul

Right, I went to Robosats but couldn't find the deal I need, would be great if they just ban paypal altogether, otherwise you can just sit on hodlhodl all day scamming people and reversing transactions.

0 sats \ 1 reply \ @The_Daniel 5 Aug

PayPal is a hotbed of fraud. I’ve never used HodlHodl but I once had a client claw back funds on a freelance job after paying me with PayPal and I’ll never use it again.

0 sats \ 0 replies \ @Catcher OP 6 Aug

Wow, that is crazy. But with freelance you can actually prove you did the job for a person / company, how were they able to claw back the payment?

0 sats \ 0 replies \ @flat24 4 Aug

Oh brother, what a bad experience you have had to share with us, I'm very sorry! I hope you recover what you lost soon. PS: It is well known that PayPal should NOT be used for that method of canceling transfers. Try to use USDT. or directly to your bank account in whatever shitty Fiat they use in your country.

0 sats \ 3 replies \ @OT 4 Aug

Sorry to hear that. I've had only good experiences using hodlhodl. I've also had a few issues using PayPal so I just stopped using it for many years now.

I think you can go back and revoke the review on hodlhodl so this will at least not let them get away with it again.

101 sats \ 2 replies \ @Catcher OP 4 Aug

Well, it's not hodlhodl fault, the only thing they do wrong is let users choose PayPal as a payment option. PayPal are the bad guys here.

0 sats \ 1 reply \ @OT 4 Aug

Yeah, maybe they should take down the paypal option. IDK, it could probably happen with a bank too.

0 sats \ 0 replies \ @Catcher OP 4 Aug

That's a good question, I think it's much more complicated, as if you send from one bank to another then I think it's quite difficult to revert the transaction as you will have 2 banks involved and you will need to file the case, etc. Based on the PayPal speed of transaction reversal I suppose they use ai or some sort of automation to make it happen. At it's inside their system so it's just moving numbers for them. I was even thinking about doing the same and document everything just to show how stupid the system is and how easy it is to scam people. Then post it somewhere and then maybe it will get some attention:) I would send the scammed person money back of course after I can prove it works;)

0 sats \ 1 reply \ @mo 23 Jul

Ups! Sometimes happen, especially on first time use... you'd use hodl hodl + paypal again?

0 sats \ 0 replies \ @Catcher OP 23 Jul

Will Never touch PayPal again for sure. hodlhodl- just very cautiously now.

10 sats \ 8 replies \ @DarthCoin 23 Jul

where the car, the teeth, the house, the parent's health - all falling apart within a week.

buah that's nothing. You could just ignore all of them. weak hands... LOL using paypal.... you get what you fucking deserve.

22 sats \ 5 replies \ @Catcher OP 23 Jul

Sometimes it's better say nothing, you know, paypal is a valid payment option on hodlhodl and people should know it's dangerous, you don't have to be mean all the time

0 sats \ 4 replies \ @DarthCoin 23 Jul

paypal is a valid payment option

I hope you joke...

you don't have to be mean all the time

Get used to that, I am that guy that will always say what other do not dare to say...

21 sats \ 3 replies \ @Catcher OP 23 Jul

".... on hodlhodl"

It's there, means people will use it sometimes and get into trouble, that's the message

10 sats \ 2 replies \ @DarthCoin 23 Jul

Let me say it more clear:

22 sats \ 1 reply \ @Catcher OP 23 Jul

That's completely out of touch, but no point to talk, I get it, you have to be mean.

21 sats \ 0 replies \ @Bell_curve 23 Jul

I would mute Darth for being a serial CUNT

0 sats \ 0 replies \ @Bell_curve 23 Jul

go back to your citadel of solitude

0 sats \ 0 replies \ @Bell_curve 23 Jul

Darth, go fellate yourself

0 sats \ 0 replies \ @Octopus 23 Jul outlawed

stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.