Business

Ed Drake

Bitpay under fire for allegedly freezing Hong Kong crypto donations

Crypto payment processor BitPay has been slammed by press reports in Hong Kong amid claims the firm blocked crypto donations to Hong Kong for a number of weeks.

In the latest publicity crisis for the stricken payments firm, users took to social media to complain about BitPay suddenly refusing to pass on money received in donations through the platform.

Tom Grundy, founder of the Hong Kong Free Press, a crowdfunded media outlet in the territory, tweeted about his sub-par experience with BitPay, urging users to “never use” the service.

In a withering assessment of the platform, he suggested “almost any alternative” would be preferable to BitPay’s platform, claiming, “Funds held for weeks simply b/c HK banks use SWIFT not IBANs…”

Hong Kong Free Press relies on donations, and has been using the BitPay platform without issue since 2015. However, over the past three weeks, BitPay has been blocking donations from getting through, allegedly a result of delays in the fiat system in Hong Kong.

Particularly against the backdrop of the current political climate in Hong Kong, BitPay’s failure has been problematic for Hong Kong Free Press, as well as many other users.

To make matters worse, Grundy says he has been met with silence and a lack of cooperation from BitPay in the face of these problems.

The problems are the latest in a series of damaging revelations about the firm, which has seen scandal after scandal befall its service in recent months. These include freezing payments without explanation, a lack of support for major wallet services, and even attempts to reduce the frequency with which users make crypto transactions.

The firm was also in the firing line after a donation to the Amazon rainforest fires in the amount of $100,000 was frozen and blocked.

To receive the latest CoinGeek.com news, special discounts on CoinGeek Conferences and other inside information direct to your inbox, please sign up for our mailing list.

COMMENT

[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]
[data-clipboard-demo]