Chargeback Won Against a Rogue Crypto Merchant

The situation

A first-time investor bought what was advertised as a “crypto savings plan” from an online merchant, paying $9,800 by credit card. The merchant promised a fixed return and a 30-day money-back guarantee. When the investor asked to cancel within the guarantee window, the merchant ignored the request and later disabled the account.

What ALTHEON did

This was a textbook card-dispute scenario, but rogue merchants often submit fabricated “evidence” to defend a chargeback, so the claim had to be airtight.

• Documented the advertised 30-day guarantee and the time-stamped cancellation request that the merchant ignored.
• Filed the dispute under the “services not as described / not provided” reason code with a clear written narrative.
• Anticipated the merchant’s rebuttal and pre-empted it with screenshots, terms-of-service excerpts and the payment receipt.
• Coached the client on responding promptly if the bank requested additional information.

The outcome

The issuing bank ruled in the client’s favour and the full $9,800 was refunded. The merchant’s representment attempt failed because our evidence pack directly contradicted its claim that the service had been delivered.

Why documentation wins chargebacks

Card disputes are decided on evidence, not emotion. A well-structured claim — with dates, the original offer, and proof you tried to resolve it with the merchant first — is dramatically more likely to succeed than a vague complaint. This is the discipline ALTHEON brings to every chargeback we manage.