New e-Gold/PayPal scheme through e-Gold Eldorado
Scheme likely using stolen PayPal accounts. This new program, which first made an appearance in this arena sometime after September 11, is using e-Gold and PayPal to set up an exchange scheme.
This is not the first time a program of this variety has made an attempt to fleece players using PayPal. The whole process involves the use of stolen or hacked PayPal accounts.
The program is located at refin.cc and is claiming to pay out 150% to your PayPal account within thirty minutes after making a deposit to the program's e-gold account.
The player wanting the exchange makes a deposit to this program's e-Gold account. Remember there are no reversal of payments made through e-Gold. Once the payment is made, you are at the mercy of the Admin.
At this time at least one person claims to have been paid by this scheme. It is common for some people at the beginning to get paid, after all how can a scam work if some people are not paid and exploited that fact in forums?
You will likely get paid the 150% to your PayPal account, but what will happen over the next 24 - 48 hours will start you on a nightmare that could take many months maybe even years to resolve.
PayPal will be informed by the "real" accountholder where the exchange was made from and claim they never authorized the payment. A trouble ticket will be created and the funds WILL be REVERSED back to the original accountholder.
There will be nothing you can do to stop this from happening. PayPal can legally take the funds from your bank account, since you gave PayPal that authorization when you created a PayPal account!
What does this mean to you the player? It means you will be out of funds at both ends. Yes you will be screwed from both ends as well. Let's say you wanted to exchange $100 through this service. You spend the $100 to e-Gold and then get $150 in your PayPal
You are already out the $100 as e-Gold does not reverse any deposits. Once PayPal reverses the payment, you will be out an additional $150, making your attempt at making too good to be true money, will cost you $250.00!
You can expect those who used this service and received payments to post that the payments were revered in the days to come. This process of PayPal reversing the funds all depends on how often the real owner of the PayPal account logs in to check balances and or bank account information.
Don't let this happen to you like it did to me and others.
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