PTC News – Astrobux is shutting down
Although I am not a member of this site, I have heard that this site is closing down at the end of the year, so for anyone who hasn’t heard or was thinking of perhaps joining, then don’t bother. Apparently they have ran out of funds because of chargebacks against them at Paypal.
Here is a copy of what they have to say :
Hi All,
Since we’ve gone back online last Dec 8, 2009, we started a month long promotion of a very-cheap-special-upgrade of $49 (including $35 promo for 2days) as well as Advertising promo. But before Dec7, I thought of letting go of Astrobux because of the cash flow problem but, since money, effort and time (precious ones) were already spent into the program, I decided not to. Some had availed the special upgrade but MANY had filed a dispute against Alertpay/Paypal and chargeback transactions even after the 30 days grace period. I shouldn’t have accepted credit card in the first place.
In relation to that, AP had a negative balance and was forced to close. And regarding Paypal, after my account got limited due to 3rd party access, I just got a reply from them saying that my account will be forced to close down because of possible fraud (refer to email excerpt below) and whatever left on the account will be held for 180 days. Paypal fund was supposed to make Astrobux running maybe for the next 3 or 4 months but for the given 180 days, I don’t think there will still be enough fund for payouts due to potential disputes and chargebacks.
I did try to save Astrobux but I just can’t get back the trust you had initially for the program and even maxed out one of my credit cards. I know for sure, all because of the number of downtimes and bugs which until now need fixing (or even after the site is closed). It’s really our fault but only a few have reported regarding having excess referrals after recycling, it was also one of the factors.
So, having said all the above, it is very sad to say but effective immediately, Astrobux ceases its operation and come to an end. The site will still remain functional until December 31st.
I’m really sorry, I really am.
Below is what I’ve got from Paypal.
Dear Astrobux,
We appreciate your interest in PayPal. Unfortunately our decision to close your account is final. We have observed activity in this account that is unusual or potentially high risk. (not sure how this could have happened, but pretty sure it was because of the recent chargebacks against astrobux)
PayPal reserves the right to close any account reported to be involved in possible fraudulent or high risk behavior. Due to the potential risk of chargebacks or other action filed by buyers, your balance will be held 180 days from the date of your limitation. At that time, any remaining funds will be available for withdrawal.
We appreciate your patience and understanding regarding this matter. Thanks again for contacting us. It is my pleasure to assist you. Thank you for choosing PayPal.
Sincerely,
PayPal Account Review Department
PayPal, an eBay Company
As I said, I am not a member of this one but thought I should pass it on.
