Pokemon card seller, 18, allegedly loses $16K to pre-order scam: 'It's not just about the $16K'
It was the first time he had fallen victim to a scam of such scale, an 18-year-old Pokemon card seller said.
The polytechnic student, who wished to remain anonymous, was among hundreds of buyers allegedly cheated by a Pokemon card supplier. His alleged losses amounted to $16,800.
Despite the significant loss, he told Stomp that he was more concerned about the affected customers who had placed their trust in him.
Over 160 victims allegedly lose $870K in recent Pokemon scam
According to figures on Pokevictimboard, a website that allows victims to record their losses, more than 160 people, including students, allegedly lost more than $870,000 to the Pokemon card supplier.
The supplier operates under the handle PawsTCG and his proxy, Fulfillment TCG Store SG, on a channel with over 2,000 subscribers. Both came under scrutiny after multiple alleged victims spoke out about their losses earlier this week.
Fulfillment TCG Store SG had posted a listing of the Ascended Heroes Pokemon cards on Feb 2, a highly anticipated trading card game set released on Jan 30.
A delivery window of Feb 23 to 25 was promised. However, on Feb 25, Fulfillment TCG Store SG announced a shipment delay of one to two weeks.
Sources told Stomp that many of the victims were secondary school students, adding that the largest single loss reported amounted to about $365,000.
Fulfillment TCG was 'quite sincere' in previous transaction
What began as a hobby evolved into a business of buying and selling Pokemon cards, which the student has been running with friends for the last eight months.
He said he had previously done business with Fulfillment TCG Store SG and described him as being "quite sincere".
As he had communicated with him directly and received his earlier orders without issue, the student said he assumed the seller was trustworthy.
He placed a bulk order for Ascended Heroes boxes on Feb 14 after securing orders from customers whom he intended to resell the items at a profit.
However, after Fulfillment TCG Store SG announced the shipment delay, he and other buyers grew suspicious.
The student said he contacted the seller to request a refund, but ended up getting "ghosted throughout" the process. He eventually lodged a police report.
'It's not just about the $16K'
Even though $16,000 is "not a small amount", the student said that Pokemon card sellers can earn substantial profits through reselling highly sought-after products.
He shared that his largest single earning was about $2,000, which required an initial outlay of around $20,000.
If there was one word to describe the whole situation, he said it would be "regret".
"Personally, it's not about the $16K. It's also about my affected customers who trusted me in purchasing all these items, and yet, I couldn't deliver," he said.
As he is unable to recover the full amount, he is still in the process of refunding his customers.
Emphasising the importance of his customers' trust and understanding, he has set a "reasonable deadline" to process the refund. He also plans on throwing in additional products in a bid to maintain his regular customers.
"I'm giving them whatever I can and apologising to them so we can keep our relationship and slowly build my business back," he said.
Moving forward, he said he will no longer accept deposits from customers, effectively ending pre-orders.
"Whatever I bring in, I will sell what's on my hand and not just pre-order and risking it," he said, adding that he does not want his customers to be affected by scams in the future.
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