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[Ryankr]

Hello, for my first post, I will tell you how I lost $17,000, I hope to have constructive feedback, and advice to avoid this in the future / maybe get my money back.

I have several online businesses (not only very legal businesses), I accept as a means of payment Paypal, skrill, bank transfers (for legal businesses of course) but next to that I also accept cryptocurrencies (for darker business), I had recently started selling credit cards. 3 weeks ago, I had an order for 15 credit cards by skype. Everything is going well, I prepared the cards, I sent my etherum address on skype to get paid, the client sent me the money to my coinbase account (which is common to most of my business), and I delivered the order.
4 hours later, I reconnect on coinbase and I have this message:

I contacted support and they told me that my wallet had been blocked due to illegal transactions, and that I could not recover it.
I had just lost my wallet and the $17,000 I had on it...

I would like to know if other people had already experienced this and how it is possible? (I use a VPN all the time, and I live in India)

 

[RichterJack]

You use cryptos in India when this is prohibited.
You sent your ethereum address without encrypting it to sell illegal goods.
It's normal that your account has been blocked mate.

 

[Ryankr]

You use cryptos in India when this is prohibited.
You sent your ethereum address without encrypting it to sell illegal goods.
It's normal that your account has been blocked mate.

Indeed i was stupid... Noted

 

[Carterjons]

Clean your house, maybe you will have visitors, always use encryption services to send a crypto address.

 

[BMF]

contacted support and they told me that my wallet had been blocked due to illegal transactions, and that I could not recover it.
I had just lost my wallet and the $17,000 I had on it...

Dang, wonder what they do with all that money now. Do they take it?

And why you use Coinbase in the first place? Aren't there more suitable wallets considering the fact that you said you have not 100% legal business?
I hope you recover your funds or at least make bigger profits and recover the lost and forget about it.

 

[btcminer]

Dang, wonder what they do with all that money now. Do they take it?

And why you use Coinbase in the first place? Aren't there more suitable wallets considering the fact that you said you have not 100% legal business?
I hope you recover your funds or at least make bigger profits and recover the lost and forget about it.

hello admin ,i think some people no matter how much money they lose ,they still have their wealth hidden somewhere,they just like to be dramatic about it
these filthy rich slimes with their castles and cars who look down the poor and normal people , this guy had it coming

 

[BMF]

hello admin ,i think some people no matter how much money they lose ,they still have their wealth hidden somewhere,they just like to be dramatic about it
these filthy rich slimes with their castles and cars who look down the poor and normal people , this guy had it coming

I like to keep a positive vibe on the forum, let's not wish someone bad luck. We don't know the real truth. See you around.

 

[akawossito]

I hope you get well, that's a lot of money anywhere in the world greetings

 

[KarthikP]

That's a very big amount and it shouldn't involve cryptocurrency that too in a crypto restricted country like India. I am also holding some crypto , but not so big amount , hope you recover it bro.

 

[Brain]

You always have to be on your toes when doing a not so let business. Well that quite a huge one there. Just count your losses and learn from it while starting all over again.

 

[Balint098]

OP, do you mean you're selling stolen credit card info (black hat carding) or Virtual Credit Card? And maybe in the future you should use BTC ATM for high-risk transactions like this.

 

[Licheus]

That's unfortunate. Thanks for sharing. Might discourage other people from getting burnt. Wouldn't surprise me if this happens to people doing legal stuff at the margins as well.

I guess the takeaway is to own one's own private key.

Dang, wonder what they do with all that money now. Do they take it?

I'm a bit curous to that as well. If they just take the crypto themselves, wouldn't that make them sort of involved in illegal activity.

 

[accsellez]

high risk high return

 

[notdarkyet]

There are many red flags with your process. Should have avoided that.

 

[papothwizard]

I love the honesty of this guy. We all should be careful next time especially dealing with not so legal agendas.

 

[SCAMEXPOSER]

It is very important that we look into the terms and agreement of every wallet before using it. @Ryankr , since you know your business is not 100% in the light you shouldn't have used a wallet regulated by the government.

 

[LunaCoco]

Hello, for my first post, I will tell you how I lost $17,000, I hope to have constructive feedback, and advice to avoid this in the future / maybe get my money back.

I have several online businesses (not only very legal businesses), I accept as a means of payment Paypal, skrill, bank transfers (for legal businesses of course) but next to that I also accept cryptocurrencies (for darker business), I had recently started selling credit cards. 3 weeks ago, I had an order for 15 credit cards by skype. Everything is going well, I prepared the cards, I sent my etherum address on skype to get paid, the client sent me the money to my coinbase account (which is common to most of my business), and I delivered the order.
4 hours later, I reconnect on coinbase and I have this message:

I contacted support and they told me that my wallet had been blocked due to illegal transactions, and that I could not recover it.
I had just lost my wallet and the $17,000 I had on it...

I would like to know if other people had already experienced this and how it is possible? (I use a VPN all the time, and I live in India)

I can't even imagine how that would feel. I'd be devastated and embarrased. I couldn't post it here, that's for sure.

It goes to show how serious Coinbase is in enforcing their TAC.

Wow I hope you're okay after this. If you could stay away from illegal activities, please do so. Let this be a big lesson for you.

 

[SCAMEXPOSER]

This is also an indication that anonymous nature of bitcoin has limitations cos it can be tracked, probably coinbase had their tactics of decoding sources of illegal bitcoin or crytpo currencies exchange or services.

 

[KarthikP]

If there is any illegal activities ongoing in cryptocurrency, it's tough to recognize them which coinbase can able to do , that's why I trust coinbase

 

[Mbwolf]

wow, 17000$ is a big amount of money sorry for your lose
I think next time you shouldn't use coinbase
work with deepweb bitcoin wallets they are encrypted and they are made for illegal businesses anyway