re: "I am very confused."
I, too, am confused about this new "catalog project" thing. I have read many threads describing situations similar to yours.
re: "A client got a complete project from my side and release the funds of almost $420. He gave me positive feedback. After few days all funds were reversed to the client from my earnings without any notification to me about the clear issue. I am trying to understand the issue and I am watching all issues like a movie. How's Upwork is safe for freelancers?"
Based on what you said happened to you, it certainly doesn't seem that Upwork is safe for freelancers when they do catalog projects.
re: "What is doing Upwork for freelancers?"
From what I read in your post, and other threads, I don't know if Upwork is doing aything for freelancers when a client doesn't pay for catalog project work. It seems like a risky prospect for the freelancer.
re: "I lost my hard work payment of $420 and waiting for help couple of weeks. How possible for that client to reverse all funds after the complete project?"
My best guess is that the client used a fraudulently-obtained credit card, and the payment the client made had to be clawed back when the bank didn't honor that payment. In theory, a client could have issued a chargeback. What I HOPE is that Upwork didn't let the client simply click a button to get all his money back. That woud mean that project catalogs don't even try to protect freelancers a little bit. But whatever the case, you clearly got a bad deal out of this.
Sorry.
It would not surprise me if some freelancers reading this thread (and similar recent threads) decided that using catalog projects is too risky, and decided to stick with hourly contracts, which offer Upwork Payment Protection.
