May 13, 2025 – This month, DeNet, a decentralized storage provider with 4 million users, warned its community of a serious disruption caused by Stripe, a centralized payment processor. According to DeNet, Stripe issued roughly $200,000 unsolicited refunds on DeNet customer accounts without any further profound explanation. Stripe is currently holding back around 25% of DeNet transaction proceeds from the past 3 months, jeopardizing users’ access to services they paid for. This incident highlights the vulnerabilities inherent in centralized systems and reinforces DeNet’s mission to make Web3 accessible, secure, and user-centric through innovative technology and education.
According to DeNet, the disruption began when a user, for some reason, skipped the platform process and requested a $13.72 refund directly from Stripe. Despite refunds initiated by a single
user, Stripe initiated a cascade of unsolicited refunds for purchases of storage space, Datakeeper licenses (nodes), and extended functionality within the DeNet app, without any further user requests or any elaborated reasoning communicated to DeNet. Furthermore, Stripe currently retains around 25% of the DeNet transaction volume received via Stripe. DeNet’s attempts to engage with Stripe regarding these unauthorized transactions were met with responses that appeared automated, as they were nearly identical and failed to provide any meaningful explanation or resolution. Critically, after DeNet reached out through various channels, the Stripe team intervened in an initial investigation. However, per DeNet, it had little effect, as Stripe followed with the widespread and random issuance of refunds.
DeNet has processed payments via Stripe for over a year, maintaining transparent user relationships. However, Stripe’s track record with other projects shows issues like frequent abuse, lack of impartiality, and poor communication. Its opaque decision-making and unexplained logic raise concerns. Is this a deliberate structure by Stripe’s leadership or a systemic failure?
“We’re deeply disappointed by Stripe’s actions, especially as we’ve worked tirelessly to make Web3 welcoming for all”, said Rafik Singatullin, co-founder at DeNet. “The fiat payment option was introduced to empower users, not expose them to centralized overreach. This strengthens our resolve to deliver decentralized solutions and educate our community”.
DeNet is forced to launch alternative payment methods to ensure its users receive the service they paid for, despite Stripe’s arbitrary actions. Users can check the DeNet app to see if they’re affected and restore their purchases.
About DeNet DeNet is a programmable decentralized storage protocol that unlocks the global potential of unused storage through tokenized RWA capacity. With 4M users, 250K daily active devices, and 15M+ files, it’s a leading operational solution for future storage needs.
Contact: For inquiries related to this incident or further information, please contact DeNet at le***@de***.pro .
