Scammed via Bitcoin

Wangeye08

OK people - I knew the risks when I undertook this transaction, and have been burned. I did go in with my eyes wide open..what I'd like is some advice as to whether I can claim any money back from my CC company.

2-3 months ago I ordered some electronics from a seller in the eastern bloc and paid by bitcoin. About £1500 worth. Surprise surprise it's a no show on the goods, and my messages are now being ignored.

I paid for the bitcoin via credit card, is there any likelyhood of being able to make some sort of claim through the credit card company (HSBC). The only stumbling block is that I topped up my bitcoin wallet through a legitimate agent using my credit card, so the actual CC transaction wasn't fraudulent.

Any tips or suggestions on reclaiming my money?

Cheers

stevenhp1987

No chance of reclaiming off credit card, the seller who sold you the BitCoin would then be out of pocket!

Why did you pay using BitCoin instead of regular cash? If you paid for the goods on your credit card you would have had Section 75 protection, paying by BitCoin leaves you with little recourse.

You'll have to put this down to a lesson learnt, and pay using real money next time!

Also, I'm surprised you were able to buy BitCoin on a credit card... that would incur a cash fee as you bought a cash-like product.

Wangeye08

Yeah, that's what I thought. I went in knowing there was a possibility of not seeing my goods or getting the money back as it was through btc.

It was one of those opportunities that was too good to miss yadda yadda yadda

Will have to chalk it up to experience.

bris

You bought Bitcoins with the CC, you got the Bitcoins so no breach of contract has taken place.

Wangeye08

yeah my bad

[Deleted User]

Nathan_Marley wrote: »

I have personally got a spam account,

Reported as Bitspam.

eddddy

Nathan_Marley wrote: »

I have personally got a spectrocoin account, where I withdraw my bitcoin onto a prepaid debit card. This way there is something you can do if the items were not sent/recieved etc.

Are you sure? Do you know Lithuanian law well?

PREPAID CARD AGREEMENT

24.1. The interpretation, validity and enforcement of this Agreement, and all legal actions brought under or in connection with the subject matter of this Agreement, shall be governed by the law of the Republic of Lithuania.

Link: https://spectrocoin.com/en/terms/card.html

And the Lithuanian legal and court system?

24.2. Any disagreements or disputes of the User and Spectrocoin, arising from this Agreement, shall be settled by negotiations between you and Spectrocoin. In case of failure to reach an agreement in 14 (fourteen) days, any disputes, disagreements or claims, arising from this Agreement or related to it, its breach, dissolution or validity, that have not been solved by you and Spectrocoin, shall be settled in the competent court of the Republic of Lithuania, according to the registration address of Spectrocoin.

(Once the spam post is removed, I will delete this post...)