A news report revealed that recently PayPal had suspended the membership of one of its customers. The details indicated that the alleged customer was found holding cryptocurrencies for more than 180 days.
However, the perspective came from the suspended customer indicated to the contrary. The customer alleged that his membership was suspended by PayPal because he was using the platform quite frequently.
The details of the incident suggested that a user from Reddit named TheCoolDoc got registered at PayPal’s platform. It was told that the user got registered for obtaining the crypto services recently launched by PayPal. The user told that a message was received which suggested that the account with PayPal had been permanently suspended. The reason being told to the user for account suspension was of “potential risk”.
Meanwhile, the user informed that since account registration with PayPal, at least 10 crypto transactions were carried out from his account. All these transactions took place within a week, the user told. The user further added that cryptocurrencies were bought when prices went down and sold when they went high. But at the end of every transaction, an enquiry was sent by PayPal to explain the transaction.
It was further told by user that the account was flagged as if he was selling crypto worth US$ 10,000 in a week. He told however that he hadn’t sold cryptos in one week for US$ 10,000 even then his account was suspended. He further told that he contacted PayPal by submitting his explanation and attaching few proofs but to no avail.
Later on the user received another message in which he was informed that he could not conduct any further transactions. Thereafter, the account went completely off and the customer could not log into his account.
A few more Reddit users indicated the same issues being faced by them at PayPal platform. One of the users informed that he was conducting a transaction from PayPal for transferring some funds to his account at Coinbase. But PayPal took at least a whole week in verifying and then transferring the money into the designated account. The user told that he would never use PayPal again if this is what they are offering to their customers.
However, still no comment came out from PayPal regarding the incident.