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reassess_blind 1 days ago [-]
Can you explain exactly what they did to put you $4.5k in the red?
They created both selling and buying accounts on your platform, bought from themselves, withdrew from their selling accounts, and charged back the original payments?
breue 1 days ago [-]
yup! - exactly - except a lot of the cards they used were stollen and belonged to random people.
reassess_blind 1 days ago [-]
Yeah, that’s nasty. Stripe isn’t the problem here though, it’s not their responsibility to reimburse you for being a victim of a scam.
It’s worth fighting those chargebacks. If the chargebacks from stolen cards were initiated by the real card owners, it’s very unlikely you’ll win the disputes. However if the chargebacks were initiated by the fraudsters themselves, that’s a different story and you might have a good chance of winning some disputes.
Did your platform have payout delays for new accounts? 14 days? Did you use 3D Secure payments?
They created both selling and buying accounts on your platform, bought from themselves, withdrew from their selling accounts, and charged back the original payments?
It’s worth fighting those chargebacks. If the chargebacks from stolen cards were initiated by the real card owners, it’s very unlikely you’ll win the disputes. However if the chargebacks were initiated by the fraudsters themselves, that’s a different story and you might have a good chance of winning some disputes.
Did your platform have payout delays for new accounts? 14 days? Did you use 3D Secure payments?