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fraud report

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  • fraud report

    idk if people have charge back issues but I have had several xcoins accounts set up for lending and I have gone through so many issues and charge backs that paypal has permanently banned me. now these are the issues that I have found when u lend u get the persons id the scan of their id and the pic of them holding their id. so here are the issues I have forund that the people in some of my transactions generally the ones associated with charge backs don't even match the people on the id. in one instance the id was a male and the person holding the id next to them was a female. wtf? I thought xcoins was supposed to do all of the backround. then through doing backround checks I have found the names and associated id numbers are not in any system so basically people can use a fake id for verification. also the ip addresses that are listed come back on blacklist check as flagged. like r u serious? the site doesn't even check if the ip is blacklisted before lending. and if somebody does a chargeback on you, you're shit of of luck xcoins doesn't give two shits.

  • #2
    I am sorry to hear that your PayPal account has been permanently banned. We have a comprehensive verification system to prevent potential scammers from defrauding our customers. Every new customer has to pass our verification which requires them to send identification and a picture of themselves to prove their identity. We do vet users for using false identification or having their IP blacklisted. As a lender you must also keep in mind our 50% profit margin guarantee where if your profit margin falls below 50% from charge backs we will reimburse you the difference to get your profit margin back over 50%.


    • #3
      I'm excited to start lending, however when I hear of scams like this, I'm having second thoughts. This is a beautiful system, the only cog being PayPal. I'm afraid they'd limit my account when I have money in it and then take me forever to get it back. It happened to me a few years back in ebay. PayPal limited my account even after I've resolved issues with the buyer. I never got my money back. I guess the safest way is to deal only with borrowers with many previous deals.