GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Rant Paxum pulling a MtGox on their customers?

Mooby · 10-26-2016, 10:34 AM

We've been using Paxum for years without problems. Of course, that was right up until September, when they sent us a bad check.

Because we understood this was due to their issues with Chexx Inc (and that they were kind enough to re-credit the funds and fees) we gave them the benefit of the doubt. However, once the funds had been returned to our Paxum account, we started looking into alternative ways of withdrawing our funds, and that's when the real problems started...

First, we requested their Mastercard, which they stalled by gratuitously requesting additional documentation. Once the documentation had been accepted, the status of the card changed to "Printing" and then "Printed", but nothing more appears to have happened. While we were waiting for the card to ship, we decided that we simply couldn't wait any longer, so we requested a WIRE withdrawal of our funds (we figured that it would be worth swallowing the insane $50 fee if it meant being able to safely bank our funds). That was a BIG mistake!

Now 2 weeks have passed since the "completion" of our WIRE transfer request, and there's still no trace of our funds. Paxum provided us with details of the transfer, and even though all of our account details are correct, our bank has no record of any incoming WIRE matching those details. Now Paxum are essentially telling us that it's our problem as the WIRE was not returned to their bank and therefore it's up to us to find it!

To be fair, we're willing to accept the occasional problem/technical glitch, but there are simply too many co-incidences here. Namely, this is very similar to what the failed bitcoin exchange MtGox did to their customers while stalling for time in their final months. If this is a genuine mistake on Paxum's part, we'll apologize, but it's simply too suspicious.

Has anyone else encountered similar problems with Paxum recently?

10-26-2016, 10:34 AM
Mooby Registered User Industry Role: Join Date: Sep 2016 Posts: 22	Paxum pulling a MtGox on their customers? We've been using Paxum for years without problems. Of course, that was right up until September, when they sent us a bad check. Because we understood this was due to their issues with Chexx Inc (and that they were kind enough to re-credit the funds and fees) we gave them the benefit of the doubt. However, once the funds had been returned to our Paxum account, we started looking into alternative ways of withdrawing our funds, and that's when the real problems started... First, we requested their Mastercard, which they stalled by gratuitously requesting additional documentation. Once the documentation had been accepted, the status of the card changed to "Printing" and then "Printed", but nothing more appears to have happened. While we were waiting for the card to ship, we decided that we simply couldn't wait any longer, so we requested a WIRE withdrawal of our funds (we figured that it would be worth swallowing the insane $50 fee if it meant being able to safely bank our funds). That was a BIG mistake! Now 2 weeks have passed since the "completion" of our WIRE transfer request, and there's still no trace of our funds. Paxum provided us with details of the transfer, and even though all of our account details are correct, our bank has no record of any incoming WIRE matching those details. Now Paxum are essentially telling us that it's our problem as the WIRE was not returned to their bank and therefore it's up to us to find it! To be fair, we're willing to accept the occasional problem/technical glitch, but there are simply too many co-incidences here. Namely, this is very similar to what the failed bitcoin exchange MtGox did to their customers while stalling for time in their final months. If this is a genuine mistake on Paxum's part, we'll apologize, but it's simply too suspicious. Has anyone else encountered similar problems with Paxum recently?