Dark Web Escrow Service Explained
gAtO FoUnD – this dark marketplace hidden service website -Nucleus- and they they explains the escrow service policy. gAtO wanted to pass it along so we can all learn how one dark website plays-
Now remember that this is only one dark websites version. Each different marketplaces has different version and flavors os their Bitcoin escrow policy. Bottom line your trussing two unknown people and Bitcoin transactions are final – so think and learn. Another marketplace Evolution closed down with 12-million in Bitcoin in escrow and the admin disappeared – happily ever after. Beware Will Robinson – gAtO OuT
Okay, there seems to be an insane amount of bad finalizing practices on the market – lets lay this out.
Escrow – You give your money to a 3rd party (Nucleus) – This proves to the vendor you have the funds available, they ship product. You receive the item, and when you finalize, Nucleus gives your funds to the vendor. You prove you have money, vendor proves they have product, Nucleus proves the transaction was agreed to and turns the money over making a small profit per transaction and many people and vendors at the same time.
In the event of a dispute where escrow is involved, Nucleus agrees to mediate, acting as an unbiased 3rd party. If the vendor can prove they sent the product through tracking information or some other means, or offers a reshipment which you choose to accept, ect. Nucleus releases the funds to the Vendor. If the Vendor cannot prove they shipped the product, or no remedy is found to the customers dispute, the funds are returned to Customer.
Nucleus also offers a percentage based refund, where the customer can ask for a smaller portion of the price returned. This is useful for situations where for example a customer places an order for 50 units of an item and only 25 units are delivered, ect. – In the example here, the customer would ask for a 50% refund.
To prevent vendors waiting an excessively long time for funds if a customer should fail to log on or forget to finalize, Nucleus provides a timer on each order which releases the funds to the vendor when it runs out. The customer should note this timer, or auto-finalize feature, and take measures to file an appropriate dispute before it expires. Often, the mail runs slow, and vendors usually like to be optimistic in their advertising, so occasionally the timer will run out before a product has arrived, despite the vendor having actually sent the product. In these cases, the customer can send an order to reclamations by filing a dispute, which will stop the autofinalize timer until the product arrives. When the product arrives, the customer should select 0% in the refund request field, and the vendor will accept this offer releasing the funds.
FE or Finalize Early – You release the funds directly to the vendor, the vendor ships the product. Nucleus is not holding your money in escrow, therefor, in the case of a dispute, a refund is asked directly from the vendor. Vendors often have legitimate reasons for needing the money before delivery, including but not limited to ;
-Customer wants more of a product than is readily available on hand, but the vendor can easily and reliably obtain that amount of product if provided the funds.
-Vendor has an arranged middle-man product with another vendor. Typically, vendors are able to move product at a faster rate than normal customers, so vendors will work out a mutual agreement amongst each other to provide a discount for driving referral business.
-Order is deemed by vendor to be excessively risky due to international shipments, customs, ect. In this instance, vendors inform the customer of the risks involved and usually agree to keep and share tracking information with the customer.
Often, vendors will offer extra products or discounts for early finalization.
In the event of a dispute where escrow is NOT involved, Nucleus is not liable or required to provide mediation for the dispute, and the customer should address the issue with the vendor directly. HOWEVER. The customer SHOULD report any failure to deliver product to Nucleus staff, because if a pattern of failure to deliver, bad information, ect. begins to appear, Nucleus staff can take appropriate measures to remove the repeat offender from the market.
It is VERY important that customers fully understand their agreement with the vendor and Nucleus, and take appropriate measures to protect their money and not get ripped off. Due to the anonymous nature of the darknet, there is very little culpability or repercussions for scamming innocent people. Scammers are here to mislead and deceive, and will take your money without thinking twice, and if you have released the funds to the vendor, Nucleus will not be able to help you get them back.