BitPay Under Fire Yet Again For Suspending Crypto Donations to Hong Kong Free Press
- HKFB accusing BitPay for not passing funds form donations for the past three weeks
- BitPay says it is working on fixing the data validation requirement issue & pursuing a manual settlement workaround
BitPay, a cryptocurrency payment processor is backlash from Hong Kong Free Press for allegedly blocking donations to Hong Kong for several weeks.
The complaint is made by Tom Grundy, the founder of crowdfunded media outlet Hong Kong Free Press (HKFP) on social media, accusing the crypto payments company of suddenly failing to pass on funds from donors.
“Never use BitPay”
HKFP started accepting Bitcoin (BTC) in 2015 and since then, BitPay has processed about 14,817 HKD (nearly $1,900).
However, for the past three weeks, the company has blocked access to the crypto donations
“without good reason.”
“Funds held for weeks simply b/c HK banks use SWIFT not IBANs,”
wrote Grundy on Twitter while vehemently advising customers to never use BitPay.
“Never use BitPay, folks. Truly the worst experience you can imagine – poor reputation, abysmal communication, horrible customer service, *very* high fees. Almost any alternative will be better,”
he said adding that he is ready to “go to war with publicity and legal action” if BitPay doesn’t sort it out.
BitPay Pursuing a Manual Settlement Workaround
In response, BitPay said it is working on fixing the data validation requirement issue (SWIFT vs. IBAN) for GBP in the complainant's area while “pursuing a manual settlement workaround,” so that HKFP can receive the funds.
The company also clarified that “settling in GBP to a Hong Kong-based bank has different requirements for settlement info and validation,” ensuring the team is working to address the issue so this doesn't happen again.
However, this isn’t the first time that something like this has happened. BitPay has been involved in various scandals including failure to support major wallets, freeing payments and apparently even attempting to make customers use BTC less often.
Just last month, a large donation of $100,000 to a non-profit working to protect the Amazon rainforest was blocked by compliance rules at BitPay.
BIG THANKS to HKFP's supporters who donated HK$14,817 in Bitcoin since 2015.
— Tom Grundy (@tomgrundy) September 11, 2019