South Korean investors wired 5MM dollars to Paypal in Mar, 2000 without even signing the deal and refused to take the money back.
When Thiel got on the phone with them and protested, the South Koreans refused to tell him where he could wire the money back.
“Their opening negotiation was, ‘We’re not telling you where you can send it back. You have to take it,’” says Thiel. “We ended up with them as investors.”