An Etsy currency conversion bug appears to have impacted the marketplace over the weekend, which for some sellers has spiraled out of control.
“We were receiving the incorrect conversion rate, which caused these discrepancies in the conversion pricing for your shop/orders. If you haven’t already, you can reach out to your buyer(s) about cancelling and initiating a new order with the correct pricing.
The issue appears to have been exacerbated when Etsy simply cancelled a ton of order which promptly disappeared from sellers Etsy accounts. Some of the orders had already been paid for and shipped and for others sellers had started manufacturing bespoke items for their buyers for orders which now don’t exist.
The worst situation we’ve heard of is a seller who sold and shipped some $20,000 worth of merchandise and transferred the funds to their bank account. They say that their Etsy account now suggests they owe Etsy the full $20,000.
“I am at a loss for what to do – you already paid me $20K for the shipped orders (32 pieces), and the money is in my bank account – but 12+ hours after I have shipped, you canceled them all – and now my dashboard tells me that I owe $20K … and all my best pieces are gone … NOT COOL at all!”
– Etsy Seller
If you are an Etsy seller make sure you check any orders you’ve printed out to manufacture or have shipped and reconcile them with your Etsy account to ensure that they still exist.
Etsy advise sellers to contact them saing: “We are very sorry that you had to encounter this error in the first place and if anyone has further questions or concerns, please do not hesitate to reach out to us here and include “Attn: Bugs” in the subject line”.
Etsy will also be contacting all affected sellers.
“The core issue is resolved, and we are following through to resolve all associated issues with this bug. We have been working on ways to resolve this efficiently and will be reaching out via email to all affected with more information. If you do not receive an email, but you feel you were affected, please do write in and we’ll assess the situation. We apologize for the trouble and continue to work the problem.”