[Ipg-smz] PayPal bans Hacker News

[Curtis Franklin]

This is why we have a parallel account at our bank (free, and they were happy to set it up) that we use only for PayPal transactions; money goes in and we transfer it out — or put money in just in time to use for a payment. This way, if PayPal gets pissy about trying to freeze an account, they only freeze an empty account (or one with minimal funds) rather than anything that could have an impact on day-to-day operations.

Curt

Curtis Franklin, Jr.
Journalist
Senior Editor, Dark Reading
Co-host, This Week in Enterprise Tech
email: curtis_franklin at cf2group.com
twitter: kg4gwa
voice: +1 352 331 1311
https://www.linkedin.com/in/curtisfranklin
https://authory.com/CurtisFranklin

> On Jan 1, 2019, at 20:54, Andy Patrizio <andy at andypatrizio.com> wrote:
> 
> Idiots.
>  
> https://www.cryptovibes.com/crypto-news/paypal-bans-the-hacker-news-bitcoin/ <https://www.cryptovibes.com/crypto-news/paypal-bans-the-hacker-news-bitcoin/>
>  
> he Hacker News (THN), a cybersecurity news resource, has become the latest notable PayPal user to have all its accounts frozen without notice. The company alleged that PayPal acted without mentioning any reason and went on to hold funds in these accounts illegally for 180 days.
> 
> In a series of December 28 tweets, officials announced that money from all its corporate accounts with the global money transmitter was no longer available. THN described that situation as ‘frustrating’ and accused PayPal <https://www.cryptovibes.com/knowledge/5-quick-ways-to-buy-bitcoin-with-paypal/> of acting without offering valid reasons for their drastic bans. The money transmitter has regularly initiated funds blocking against corporate clients in the past including those in the cryptocurrency industry without explanations.
> 
> Such blocks are a part of the service’s terms of use, that feature the caution that users can be frozen from their accounts without the company having to explain.
> 
>  
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