PayPal terminates ties with domain registrar Epik over digital currency

Epik is known for hosting right-wing social media site Gab.

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Seattle-based domain registrar and web host Epik had his PayPal account terminated after the online payments company accused him of violating its “Risk Controls”

While Epik cited Conservative bias as the reason his PayPal account was shut down, Mashable outlet revealed that his digital “alternative currency” Masterbucks was actually to blame

Masterbucks can be purchased from Epik’s site and the digital currency can be used to pay for its products or can even be converted to US dollars.However, according to a source familiar with the situation who spoke to Mashable, the company has not taken the necessary legal measures to secure its digital currency

By not doing so, Epik has made it quite easy for its customers and others to use Masterbucks to launder money online, which has put PayPal at financial risk by continuing to allow the company to ” use your payment platform

The controversy is not new to Epik as the domain registrar is known to host the far-right Gab site and it also hosted the 8chan message board site

In a six-page letter to PayPal CEO Dan Schulman dated October 13th, Davis writes that Epik “has zero tolerance toward racism, believes itself to be a force for good in the fight against inequality,” before launching into a litany of bizarre and seemingly unrelated complaints about Hollywood, Hunter Biden, the Democratic Party, and the Southern Poverty Law Center. Davis also asserted that Epik “has been targeted and past labeled in horrifically unfair ways that did not reflect either its actions or its core beliefs.”

A PayPal spokesperson said in a statement that “PayPal has sophisticated risk controls in place to alert our teams to potentially violative activity occurring on our platforms. The company independently reviews each matter and bases its decisions on the management of risk and compliance with our long-standing User Agreement.”