@cultured Apparently you only resolve issues with Whop Payments after they've been publicly raised, so it might be worthwhile looking into our account as well.
We've processed ~65K USD in payments through Whop across a timespan of 7 days.
Within 36 hours we flagged (nearly all) of the payments as fraudulent and raised it with your team via our Slack Connect channel, asking them to improve the anti-fraud system. I was reassured that Sardine (your anti-fraud system) would block the fraud attempts, and that @whop's team was on it.
They did not, and neither did you.
1) We paid all lost chargebacks out of pocket, while a Merchant of Record (which is what you sell yourself to be) is liable for anti-fraud, chargebacks and disputes
2) We paid all chargeback fees (15 USD per chargeback)
3) We paid all 'early dispute alert' fees (35 USD per incoming chargeback)
On top of that, our balance was put 100% in reserve, meaning we can withdraw none of the remaining balance in our @whop account.
Your team has ceased communication with us back in May. Your support team confirmed all of the funds will remain in reserve and that 'the decision is final'.
We have questions surrounding the legality, so we've now been forced to initiate formal proceedings against @whop. We are instructing external counsel in the United States. All rights are reserved.
@cultured from @whop reached out and covered the costs of fraud payments refund fees
thanks for this but i still can’t trust to switch back to whop bcs how do i make sure it will not happen again
bcs last time this situation was really fucked up
i mean that guy was doing $500 fraud transactions like test cards
i refunded him 4 times
still whop was allowing same dude to pay again and again
i mean there is something seriously wrong with how the fraud detection has been implemented in the backend systems at whop
i would really suggest @cultured to hire better engineers so this doesn’t happen more often
if i had not refunded those transactions and was sleeping
@whop would have been declared me as fraud and could have shut down my account and blacklisted me
thankfully i got to know this asap and refunded those payments asap bcs i am
in the game for too long and i see when a transaction is fraudulent or not
Fun fact: CS2 concurrent players are down -21.3% from February to July.
Same time period the count was was −8% last year and +11% in 2024.
So roughly 2.6x lower than a normal summer dip. Likely a big contributor to the stale market we're seeing right now.
Ever since our acquisition of @pricempire I've been wondering what interesting things we can do with the Pricempire API data, so I decided to dig in. This is what surprised me the most:
Valve banned 960,000 accounts on the 26th of March. The market moved only −0.12% that day.
I've been thinking about releasing a quarterly report with interesting facts like these and updates surrounding the state of the skins market.
If there's interest I'll publish it once Q3 closes.
Anything specific you'd want in it?
I pulled all of this data from the @pricempire API, which has a free tier for anyone looking to get a grasp of the CS2 markets.
For serious traders, a paid API is also available; https://t.co/05mZmJlveK.
Deals is now live on Pricempire.
Find the cheapest listings across all marketplaces through the live feed. Buying support directly through wallet balance soon.