Fraud Seller with fake trading platform

[Newbie1001]

Hello All, Recently I have been scammed (big time) by a fake trading platform called VNSMART. All the transactions happened through PayPal. Unfortunately I was new to PayPal and for my very first transaction I used ‘f&f’ instead of purchasing goods. Seeing the service fee, I called PayPal right away and asked if they could cancel the transaction as I choose the wrong type. PayPal said I had to contact the seller and ask them to reverse, they can’t do anything. Well at that time, I didn’t know the whole platform was a scam, and so I didn’t reach out to the seller. For my next transactions, I used paying for goods/services. After using the platform for about a month I realized the massive scam, and fake crypto currencies (or just showing the fake cryptos’ on the screen), I reported the incident to the local police and reported disputes/ claims for all the transactions through PayPal, other than the very first one (Paypal wouldn’t help with that one as I chose F&F even though I called them right after the transaction stating that the wrong type of chosen by mistake). This seller has sent fake fedex details, delivery showing either pending and to wrong city! Paypal had refunded me for 2 transactions among four. Paypal keeps pushing the resolution dates back for the remaining two claims, not sure why, but hopefully those will end in my favour. Not sure what to do if don’t. Any advice will be helpful. Now, reg the very first transaction, I disputed through my bank as I used my debit card. Bank is not helping in a promising way, and suggesting as I chose ‘f & f’, and their vendor is PayPal, Paypal would reject the dispute right way! Shouldn’t the bank reach out to the seller? Another question: I have read that sellers need to have special approvals from PayPal to provide services on trading platforms, crypto platforms, pyramid schemes. The services the fraud seller was providing fall under these types. I was hoping to find out how a fraud platform can register with PayPal as a seller? My belief is the seller might be registered for proving different services, or selling products, (otherwise why would it generate false FedEx tracking details!). Another note, seller changed the PayPal deposit email address just after I reported the claims. Many thanks for your advice/ suggestions 🙏

[Xenocrates1]

First of all, Kudo to you! I am having a similar experience with Vnsmart! 🙁 Also "big time" like you, meaning with a substantial amount. Can you please assist me with regards to how to go about this with PayPal and be in touch with me? Plz Plz.... I am really desparate since this whole scam started! Thank you! Please reach out!

[Newbie1001]

Hello, Paypal has refunded me for all 4 transactions (other than the very first one), fighting that one with the bank. When did you make the transactions? And what type of transaction did you choose? If all transactions happened within past 180days, I would suggest you file disputes through PayPal, report to local police. Hope you get your money bank. Recently I have found few warnings issued by Belgium and Singapore against VNSmart.

[Xenocrates1]

Thank you for your kind reply. I made 5 deposits, the earliest 2 months ago. I openned a regular dispute yesterday (did I do as I should have?). I doubt that they will reply though, but who knows. Then i will escalate the dispute, right? Was the procedure of refund by PayPal dificult? It is quite a large amount ($22k)? Why do you think i should file a police report? Your contact is very helpful for me. I really appreciate it. Thank you

[Xenocrates1]

You asked what kind of transactions: Each time i issued a payment of a certain amount in dollars (my Payapal account is connected to my credit card, which in turn is connected to my bank account).

[Newbie1001]

Yes, first dispute, and then escalate to claims, I did all over phone (not sure if that makes any difference). However, don’t wait to hear back from PayPal/ seller. Call PayPal again and escalate to claims, then Paypal will do the investigation and decide. My refund process was not too difficult with Paypal, hence the fake tracking details provided by the seller were delivered to different cities than where I live. But I read that if the FedEx details show the same city as where you live, PayPal might decide in Seller’s favour. The police report is just to support your case that the seller is accepting money for a service that they are not even allowed to provide (fake platform). My understanding is to provide a service related to trading via PayPal you need special approval, which I bet this seller doesn’t have. By the type of transaction I meant did you chose ‘friends and family’ or ‘purchase for goods/ services’? Buyers protection comes only for the second type.

[Xenocrates1]

Purchase of goods/service. The messages that mentions Fedex just say "shipped" with a tracking number. I just checked and on Fedex site it shows a different address and it says someone who i don't know signed upon receiving it!! Do you think police report is important for my Payapal diapute?

[Newbie1001]

You don’t need a police complaint to dispute on PayPal, however, I did it. Finally if Paypal comes back with a negative answer you can always go to your financial institution to dispute.

[Xenocrates1]

I want to express my sincere appreciation. You have been a great help for me. Can you please tell me on what date did you issue your first dispute with PayPal regarding vnsmart?

[Newbie1001]

Feb 3