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Short-seller Andrew Left of Citron Research is alleging Etsy is promoting the sale of counterfeit goods, "operating illegally." Analysts say it's an issue that plagues most online marketplaces.
It was displayed as the fifth Etsy search result for “crochet patterns.” The store in question has almost 7,000 sales to date. The store didn’t respond to a request for comment.
Over 9 million people have leveraged Etsy to sell handmade and vintage goods to people all across the globe. And if you’re considering joining them, you’ll need to figure out how to start an ...
Rocio Concha, director of policy and advocacy said, "Our research shows some Etsy sellers are brazenly ripping off customers by making misleading claims about their products". Etsy treatment of sellers. In 2022, Etsy faced protests from sellers after raising transaction fees from 5% to 6.5%.
Counterfeiters will conduct these scams through emails or chat rooms. If a person is trying to sell or give away an item of theirs, counterfeiters will make them believe that they are related to auction sites such as eBay.
Ripoff Report is a not-for-profit website founded by Ed Magedson. The Ripoff Report has been online since December 1998 and is operated by Xcentric Ventures, LLC which is based in Tempe, Arizona. In 2023 an Australian judge found the company purports to be a consumer review site but profits from extortive business practices.
Etsy is an online marketplace where people can buy and sell handmade items or vintage wares, but since the company hit sellers with a 30% transaction fee, the vendors are pushing back.
There are various ways in which this crime is committed. For example, the offender may return stolen merchandise to secure cash, steal receipts or receipt tape to enable a falsified return, or use somebody else's receipt to try to return an item picked up from a store shelf.
Etsy is warning sellers that the collapse of Silicon Valley Bank is causing delays in processing payments, according to an email from the company shared with NBC News.
In eWhoring, a scammer uses a collection of stolen nude or explicit photos to impersonate a specific person to sell more photos and video to a victim, entice them into sending money for promised dates, cam sessions, or in-person meet-ups, or to distribute phishing links.