If you are a fashion-savvy individual who often indulges in online clothes shopping, chances are that you have heard about Shein. Shein is an international fast-fashion brand, which was created back in 2008 by Chris Xu. It was originally called Sheinside.
The company primarily sells women's clothing, men's apparel, children's clothes, accessories, shoes, bags, and other fashion items. Within Shein, there is a wallet system set up to make it easy for customers to access their refunds. This article will explain what Shein Wallet is, how it works, and whether or not it can be trusted.
What Is Shein Wallet?
The Shein Wallet is a virtual wallet linked to a customer’s Shein account. The wallet gives customers the ability to make purchases, withdraw funds, and access their money once a refund is processed and completed.
The wallet can be used by viewing the Wallet Balance at checkout and applying it to your purchase on Shein. It should be noted that the currency used to pay for the order differs from that in the wallet.
To withdraw money from the Shein Wallet, the customer is instructed to click the Withdraw Deposit button, input the amount to be withdrawn and click submit to validate. The funds are then returned to the PayPal account or credit card from which the original payment was made. On average, it takes 1-5 business days for the funds to appear in the customer's PayPal account or 2-10 business days to a credit card.
When using an online wallet, the question about security will inevitably arise. Is the Shein Wallet safe and can it be hacked?
Can Shein Wallet Be Hacked and Should It Be Trusted?
Shein has its fair share of issues. The website suffered a data breach in 2018, affecting over 6 million customers. According to Shein, the malware had gained access to backdoors on corporate servers through which the attackers had stolen data associated with approximately 6.42 million customers.
Fortunately, Shein does not typically store payment card information on its systems. Questions were subsequently raised regarding why the data breach which began in June was not detected until late August. This could indicate that the levels of encryption used by Shein are not sufficient enough.
In 2019, information detailing Shein account email addresses and account balances appeared on popular data leak forum, Cracked. The account information was based on a previous data breach from 2018, which saw unique Shein email address posted online, leading to credential and data dealing forums to begin trading Shein user account information.
Aside from announcing the breach, Shein has yet to respond directly regarding websites illegally accessing customer data.
Despite the success of Shein and its integrated wallet, there is room for improvement. Shein has faced issues involving the Shein Wallet with customers saying that their money is stuck in their Wallet.
Concerns Over Shein Wallet
Due to the 2018 Shein Wallet security breach, there are many concerns as to the likelihood of Shein Wallet suffering the same fate in the future. Although Shein does not store payment card information on their websites, it does not stop funds within wallets from being accessed if a security breach occurs.
Shein generally has mixed reviews, but overall, more positive than negative. Despite this, they must upgrade their security to protect users.
