If you receive an Error 122, that means that your code was disabled. Most likely this means that you received a fraudulent code from a third-party seller. If that is the case, you will need to contact the seller and get a refund so that you can purchase the game directly from buy.guildwars2.com or from a legitimate reseller.
The Error 122 is very specific and does point to a disabled code. If you purchased your code directly from us using a legitimate credit card, and you feel that you received the message in error, please submit a Support Ticket.
Thank you.