@zebroiduser have you tried making a big money transfer via PayPal before?
Paystack is a legitimate fintech company, that does not allow its system to be used by scammers or fraudsters.
You were asked to state the nature of your business and other details, did you do that?
Top brands in Nigeria, Ghana, Kenya, and other African countries use paystack for transactions. Micro Finance Banks, Betting companies, Airlines, NGOs, Religious houses, Schools, Media organizations, Telecoms and so many others use this Paystack you are calling fraud.
@zebroiduser make sure you have a genuine and legitimate business before signing up for Paystack.