Yesterday I made a transaction at localbitcoins exchanging Bitcoin for Paypal money. A few hours later the sender requested chargeback and Paypal put my money on hold leaving me with a negative balance. I started doing research and realized that this is a very wide-spread type of scam and looks like PayPal haven't protected any seller so far. This is very suspicious, because this is obviously a scam and Paypal already knows about it.
Any hope that Paypal will help me solve this problem and punish the scammers?
In that case I would assume they are deeply involved in this scheme otherwise they wouldn't make it so much easy for scammers to steal people's money. Correct me if I'm wrong.
There are lots of categories that Paypal seller protection does not cover.
You need to read up on it before you start selling so you can risk assess your transactions.
eg I wanted to sell my car recently and 'could' have accepted Paypal and been scammed with a chargeback........but I didn't as I knew I would have had no seller protection for a motor vehicle.
Advice is voluntary. Kudos / Solution appreciated.
