Temporary cessation. PLEASE READ.
Posted by Adam Noakes on
OVERVIEW.
In the first few days of August a PayPal account used by THE CARD VIP was compromised (hacked), emptied of monies and closed overnight.
Since then, I have been filling the financial gaps, plugging holes and operating day-to-day - with the expectation of full reimbursement from PayPal.
PayPal has refused to reimburse the funds due to what appears to be a caveat in its terms of service, and whilst the matter is now escalated legally - I have no choice but to cease business operations as of the 11/09/2022.
I do not know if and when there will be a positive outcome of further action against PayPal, I am told it will most likely be a long and arduous process.
WHAT HAPPENS NEXT?
I am in contact with all third party grading companies and they are aware of what has happened to us, meaning that these are the following scenarios moving forward:
1. Resolution and return of funds.
We will be successful in the recovery of the stolen funds by way of PayPal reimbursement, all grading will be completed and returned following an indefinite delay.
2. No return of funds following legal escalation.
We are unsuccessful in recovering monies from PayPal. All submitted cards will be returned ungraded and customer reimbursement discussions will commence on an order-by-order basis.
NOTES FROM ME.
In the first few days of August a PayPal account used by THE CARD VIP was compromised (hacked), emptied of monies and closed overnight.
Since then, I have been filling the financial gaps, plugging holes and operating day-to-day - with the expectation of full reimbursement from PayPal.
PayPal has refused to reimburse the funds due to what appears to be a caveat in its terms of service, and whilst the matter is now escalated legally - I have no choice but to cease business operations as of the 11/09/2022.
I do not know if and when there will be a positive outcome of further action against PayPal, I am told it will most likely be a long and arduous process.
WHAT HAPPENS NEXT?
I am in contact with all third party grading companies and they are aware of what has happened to us, meaning that these are the following scenarios moving forward:
1. Resolution and return of funds.
We will be successful in the recovery of the stolen funds by way of PayPal reimbursement, all grading will be completed and returned following an indefinite delay.
2. No return of funds following legal escalation.
We are unsuccessful in recovering monies from PayPal. All submitted cards will be returned ungraded and customer reimbursement discussions will commence on an order-by-order basis.
NOTES FROM ME.
I am at fault for assuming this would be a temporary inconvenience, delaying submission returns before PayPal resolved and returned the stolen monies. In hindsight, the large scale (monies involved) should have prompted escalation faster.
I am devastated this affects people who have become good friends, loyal customers as well as the new customers who placed orders in recent weeks and months. I'm also devastated this could be the end of a business I love and have worked tirelessly on.
Whatever the outcome with PayPal, despite the sheer scale of the problem, I will do everything in my power to make things good with each of you - however long that takes.
COMMUNICATION MOVING FORWARD.
There will be an influx of messages, calls and emails with questions and requests off the back of this announcement - a level of patience will be needed as there will be a structured way of responding. Communication on an individual case-by-case basis will take longer than it would in an ideal world because of this.
ALL COMMUNICATION regarding this will have to be made by email (thecardvip@gmail.com) and not via platforms such as Facebook Messenger - as I have been advised for the sake of all parties we need to have more traditional communications around each customer order/orders moving forward. Messages via personal platforms will therefore be directed to email as a stock response. I apologise for this in advance.
I won't tolerate abuse, harassment etc and this will only serve to slow down any resolution for your individual case.
There will be weekly updates (or urgent updates as needed) via email and on the Facebook group regarding the status with PayPal and recovery of monies.
Adam Noakes
THE CARD VIP