UPD: Coingate payed out the all money that they were holding.
Explanation that they gave to us is that the ban was due to the changes in the EU regulations that Coingate has to obey. They did not provide any specific regulation or any information on it, though.
In any case, we feel like a heads up and a detailed explanation is required in such cases.
We are currently experiencing temporary issues with accepting crypto-payments.
We are working hard on restoring this popular payment option and hope everything will be up and running till Saturday. We are temporarily unable to accept new bitcoin payments, while this issue is being investigated. All paid orders will be fulfilled as scheduled.
Meanwhile, if you are unable to pay with BTC or any other cryptocurrency via our payment gateway, please contact us and we will trу to offer you other options.
Here is why it happened
We have been working with Coingate processing service for over two years now and had stellar history with them. We always followed all their rules and always were eager to provide any needed info about our business. We even promoted them as a reliable service and always offered them to our customers. And Coingate never had any problems with our business or products we are selling. They even featured our store on their website.
But nonetheless, we got this email today
No prior notice, no explanation, no discussion. Just instant ban and no access to the account at all.
There are several points that make it even worse:
- They had quite substantial amount of our money that we cannot withdraw or even see, since we cannot log it to the account now. UPD: Our funds were fully transferred to our permanent wallet.
- They have accepted money form one of our clients after they banned us. Basically taking money to themselves. UPD: This payment was refunded within several days.
- We have provided all information about our company to them right before the ban, even some that otherwise will be confidential.
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Thank you for your support,