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@mercury @immad Mercury just pulled the rug on our business overnight… and it should TERRIFY every founder banking with them.
We are a real, established e-commerce brand. $10M+ in processed revenue. With Mercury for 4 YEARS. Fully compliant. Fully operational.
And then out of nowhere we get an email saying our account will be CLOSED in 2 weeks. No real explanation. No answers from support. Nothing.
Do you understand what that means??
We now have to scramble to move EVERYTHING - payroll, vendors, incoming payments - RIGHT before Q4, the single most important quarter of the year.
This is a NIGHTMARE scenario.
And it’s not just us. At least 5 other founders we know got hit at the exact same time.
A platform this size should PROTECT real businesses, not leave them stranded with a vague “compliance” excuse.
Cutting off trusted brands while offering ZERO transparency is negligence at best, complicity at worst.
What are we supposed to do now??? Mercury won’t tell us WHY. They won’t explain ANYTHING.
We’re employing people who rely on paychecks to feed their families. We’re serving customers who expect us to operate smoothly.
Instead we’re forced into chaos, stress, and potentially MASSIVE losses because Mercury decided to rug pull us.
Think about it for a second…
If this can happen to a $10M+ brand with 4 years of history, it can happen to ANY founder, ANY startup, ANY business.
@mercury @immad - are you going to fix this??? Or should every founder out there start questioning if they’re next?
pov: you signed up to pay taxes and get penalized for trying to stay compliant.
should have kept convincing myself taxes are optional
Hoover retweeted
🚨 @Shopify just shut down my entire business overnight.
4 stores disabled. Funds frozen.
Reason? “Elevated chargeback risk.”
Reality: 0.1% chargeback rate, well below the 1% limit.
Even stores with NO active sales were shut down.
No warning.
No real explanation.
Just livelihoods put on pause by an algorithm.
If you run a Shopify store, understand this:
You don’t own your business if a platform can erase it overnight without due process.
Shopify, merchants deserve transparency and fairness.
This needs attention. 🔁
@ShopifySupport @harleyf
Hoover retweeted
If you're using @mercury as your bank... get your money out of there ASAP...
Imagine running an 8-figure brand, then out of the blue, your bank emails you, "Your account is closed."
That's what Mercury did to us.
We are a real, established e-commerce brand, processing close to $10M in the last 12 months. Using Mercury for the last year. Fully compliant. Fully operational. Never had an issue.
Now we get an email saying our account is closed. No real explanation. No answers from support. Nothing...
Do you understand what that means? We now have to rebuild EVERYTHING overnight — payroll, vendors, incoming payments — right before Q4, the single most important quarter of the year.
(And most importantly, hoping incoming payments are able to be rescheduled & don't get stuck with a closed bank that can't even respond to you.)
They’re rug-pulling us. Employees who depend on paychecks to be able to live & feed themselves and their families. Customers who count on us to deliver. All thrown into chaos because Mercury decided to flip a switch.
And it’s not just us. At least 10 other close Founders I know got hit the exact same way — overnight shutdowns, zero transparency, zero accountability.
A bank this size should PROTECT legitimate businesses, not destroy them. This isn’t compliance. This is negligence. Maybe worse.
If this can happen to us, it can happen to ANY founder, ANY startup, ANY business.
So ask yourself:
Are you next?
Will your money be frozen out of the blue?
Will you EVEN be able to get them back?
@mercury @immad — Are you going to fix this? Or should every Founder out there be pulling their money out before it’s too late?
Hoover retweeted
@harleyf @shopify @tobi @shopifysupport Shopify just killed our business overnight and it’s killing other brands too…
What just happened to us should terrify every real Shopify brand.
We are an established brand in the space, fully protected and generating almost $1M every month.
Yet ALL our products just got suspended because of a DMCA filed by a fake account created YESTERDAY, not many days ago, YESTERDAY, using OUR images with OUR logo still on them.
A platform of this scale should protect real merchants, not enable this kind of fraud to happen so easily.
Suspending an established brand while protecting scammers is negligence at best, complicity at worst.
What are you going to do for that now??? We already provided counter notice immediately and now you’re going to let us wait 10-15 business days to receive an answer?? This is going to cost us HUNDREDS of thousands...
On top of all that, we've employed over 10 people, who rely on their paychecks to feed their kids.
And Shopify pulled the plug overnight… over a DMCA filed by a 1-day-old obviously fake store. Think about it for a second…
We’re living proof Shopify protects scammers more than real merchants.
@harleyf @tobi @ShopifySupport @Shopify @ShopifyPartners @ShopifyDevs
Took them a little over 2 weeks, but we might have just sorted it out. @Shopify @ShopifySupport
What is the best way to reach
@Shopify
Payments team? We have over $100k in failed payouts and support is nowhere to be found.
@ShopifySupport
#shopifypayments
Officially planning a transition from #Shopify over to #woocommerce. Anyone in touch with good devs ready to help us migrate our stores?
Shopify is getting out of hand. This is ridiculous.
You guys need to invest more in your legal team and stop playing russian roullete with people's stores.
#Shopify #shopifylegal
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