I accidentally downloaded a program that I thought was from PayPal customer support. Turns out, they bought $4008 worth of bitcoins on my PayPal account. I’m freaking out a bit because I want to know if I’m going to be responsible for any income if they sell those bitcoins. Am I on the hook for taxes or anything, or is this a mistake I can fix?
Ugh, that sounds like such a nightmare. Definitely contact PayPal ASAP. They should be able to help you sort it out, especially if it’s fraud. But I think you’re good—no income should be counted if it was unauthorized.
@Gael
Yeah, I had something similar happen with a different company. PayPal is usually pretty good with that stuff. Just be sure to get everything documented.
@Gael
Exactly, documentation is key. Also, don’t forget to check your bank accounts and change your passwords everywhere. Better safe than sorry .
I don’t think you’ll be responsible for any taxes if the bitcoin sale wasn’t your decision, even though your name is on it. As long as PayPal recognizes it as fraud, they should help you out. Hope that helps .
@Taylor
Yeah, same here. I would definitely keep an eye on your accounts just in case though. Even if it’s cleared up, it’s better to be cautious.
So, just to confirm… you’re saying that even though you downloaded the program, the sale of the bitcoin isn’t considered your income? That’s a relief. I’d be freaking out about taxes too .
Zion said:
So, just to confirm… you’re saying that even though you downloaded the program, the sale of the bitcoin isn’t considered your income? That’s a relief. I’d be freaking out about taxes too!
Yep, you’re right. If it’s fraudulent, you won’t be responsible for the income. Just make sure to keep everything reported as fraud.
Zion said:
So, just to confirm… you’re saying that even though you downloaded the program, the sale of the bitcoin isn’t considered your income? That’s a relief. I’d be freaking out about taxes too!
That’s what I needed to hear! Thank you! Just trying to make sure everything’s cleared up.
I’d suggest you report the fraud to your local law enforcement and even file with the FTC. It might be more work, but it’s a good idea to have all bases covered.
Wren said:
I’d suggest you report the fraud to your local law enforcement and even file with the FTC. It might be more work, but it’s a good idea to have all bases covered.
Good point. Always better to be thorough with reporting stuff like this. The more documentation you have, the smoother the process will be.
I think you’re fine regarding the income part. PayPal should refund you the money since they recognize it as fraud, and they’ll fix things on their end.
Peyton said:
I think you’re fine regarding the income part. PayPal should refund you the money since they recognize it as fraud, and they’ll fix things on their end.
Yeah, I’ve reported it to them and changed my passwords everywhere. Just waiting to hear back. Thanks for the reassurance .