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PayPal blocked Flipper Zero account with $1.3M

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Re: PayPal blocked Flipper Zero account with $1.3M

#41

Post by rchaud »

kweks wrote: post #31
rchaud wrote: post #22

Earlier quoted context omitted.

Unlikely. The tweet thread says they asked for compliance information related to the business (address etc), which to me indicates it was sanctions-related. I don't understand how they left $1.3m sitting in a single account however. Surely they're not paying for bulk h/w component orders through PP.

It's not as cut-and-dry as it seems. Noone leaves 1.3M in an account. When your account starts generating income, they place a 'light hold' on the account - requesting 'reasonable' information. During this time, you can still receive funds, and you're promised quick resolution. You provide the documentation. They drag their feet. They request more information. They drag their feet. All the while, your account has acc…

Good to know, thanks

Re: PayPal blocked Flipper Zero account with $1.3M

#43

Post by suction »

kweks wrote: post #30

PayPal performed a "freeze and seize" on our account ~12 months ago, netting just over 50k EUR. They then went on a war of attrition, enumerating across distinct companies, shareholders seizing funds across all accounts (including accounts of unrelated companies and personal accounts in Hong Kong and Australia) No information was given. After the 180 days "freeze" period, they announced that the funds would not be re…

No post body was provided.

Re: PayPal blocked Flipper Zero account with $1.3M

#44

Post by anm89 »

I'm not justifying this on any level but I'm also starting to lose sympathy for businesses who get screwed by Paypal. Screwing people by freezing accounts is Paypal's MO. It's their signature move. It's their default behavior. This isn't even remotely secret.

If, after knowing that, you choose to keep your money with that business, that's to some degree on you.

Re: PayPal blocked Flipper Zero account with $1.3M

#45

Post by anm89 »

tester756 wrote: post #6

What's the safest way to transfer money relatively anonymously nowadays? by relatively I mean that I don't care if gov/police knows, but the person who sends/receives money doesn't know me, I just don't want people from games to know me I've used paypal account with random name like Snarky Snark and managed to transfer like 300usd, but I'm worried that the next time they may block me somehow

Zelle / venmo are better in cases where you are withing their account limits AFAIK. I'm not aware of either of them having the history of seizing user funds that Paypal has.

Re: PayPal blocked Flipper Zero account with $1.3M

#46

Post by filoleg »

justsomehnguy wrote: post #9
James_Kirk wrote: post #7

Earlier quoted context omitted.

They are not Russian taxpayers. Also half of the team is Ukrainian. And the main issue is the silence from PayPal and complete lack of communication.

I would say what the main issue here is what PayPal allowed them to establish a business account (June 7th) and happily took money from their customers. Now both the company AND it's customers are fuc^W scammed out of their money. Seems like Stripe doesn't have a problem with them (because they are incorporated in Delaware, not in Russia?)

The team is ethnically split between russian and ukrainian, but that's about it. The company was set up as a non-russian entity way before the war, which is why sanctions didn't cause them much problem when they started shipping the product. Shipping was done through Hong Kong, the manufacturing process (which they went into crazy details about in their blog posts) is done in China.

I don't think the whole "they are a russian company" makes much sense as an argument here. For one, it would he helpful if Paypal actually tried explaining their reasoning, instead of staying silent.

Re: PayPal blocked Flipper Zero account with $1.3M

#47

Post by more_corn »

I had a PayPal support person flag my account for fraud because I asked to speak to her manager regarding a minor annoyance with the way she was handling my case. (She refused and my account was immediately flagged for fraud, my project was paused and they ultimately unblocked it because obviously no fraud was happening, but by this point we’d lost all momentum. I’m 100% certain she did it because she was annoyed with me, I also know there’s not a thing I can do about it)

I’d never trust PayPal with a nickel let alone over a million bucks.

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