Topic: SCAM: MinexPay crypto debit card by minexpay.com / Minexcoin - page 9. (Read 30719 times)

Today MNX hit new All Time Low at $0,168985 or 334.5x lower from all time high price.

It is going toward $0.15,but if BTC breaks down again, we can see $0.10 very quickly.

Mining difficulty is on very low level,so 51% attack needs low hashing power and it can occurs any time.

This post has been copied here because it will be deleted from the official censored Minex thread

Boris did some Q&A sesion and used the opportunity to lie again. I think that community deserves to get truthful answers on few the most important questions,so lets see what is real truth behind some questions:


3- The monthly operating expense is it 270K USD?

Boris answer: Sources of funding: we have exhausted the resource ICO long ago (about a year ago). The monthly project expenses were more than 260 k. Since November 2018, we have halved the costs and at the moment the project is financed only by my own funds and investors in the card project (chain2pay ou)


Real:

ICO fund was exhausted till summer 2018,but real monthly project expenses are far less than $260.000. Boris had 20-25 employees with monthly salaries between $1200-2500,so real project monthly expenses were at max.$50-60000.Boris didnt make any significant investment than one time buy of 90 ATMs for about $300.000. So,difference between $60000 and $260000 per month is not made by some real expenses,but it was classic money drain,covered as salaries for Boris and his friends/family.

Boris didnt cut any costs from November 2018,but only sum of money he regulary drains from project, from $200000 per month to about $60-70000. Market conditions became very bad due to his relentless selling of premined coins on exchanges till September 2018 and later then due to selling on Instabuy,so he was forced to slow down milking Minexsystems cash cow.

Now,after Instabuy closure Boris was forced to return some money he drained before,but it is insignificant sum,because a lot of employees have already left Minexsystems one way or another.There are no investors in card program - Chain2pay is his company with no reported revenues to Estonian state register,so talking that Chain2pay is financing Minexsystems today is just very bad joke.




14 - Was there an issue with UPAY that caused them to disable withdrawal or was just a random audit type scenario?

Boris answer: - UPAY card is a Payroll provider and due to the haters complains to MasterCard about discrepancy between M-Pay card program and Payroll payments.


Real:

Here we go again - for any problem Minexsystems has it is always somebody else fault,hate or something else.Boris is always right and truthful, but dark forces do not let him work.Bullshit of course. If you do something right and according to law ,there are no haters or dark forces that can stop you.

Real truth is that Upaycard has never issued payment cards to Minexpay, but to Lithuanian company UAB KRISTOLINIS DUGNAS. That company Minexpay illegally used as a cover,shell company for theirs illegal activities. Minexpay used UAB KRISTOLINIS DUGNAS account illegally,without Upaycard knowledge, plus Minexpay were sending cards to countries out of EEA zone ,despite Upaycard license covers only EEA. Minexpay did massive violations of Upaycard and Mastercard rules and regulations and it was caught in it. UAB KRISTOLINIS DUGNAS account is suspended indefinetely and Minexpay illegal non-branded payment card program is over.

Do anybody(community) prevent Boris to do things right and according to law? No! His notorius behaviour to do workarounds against the law when confronted with complicated procedures is main reason why UPAY blocked UAB KRISTOLINIS DUGNAS cards.It is Boris fault and Boris alone.

Almost until yesterday Boris representatives were talking that problem with UPAY is just minor,temporary problem,because UPAY has to do some little extra due dilligence.They lied blatantly ,because Boris has already knew that cards were permanantly blocked:


https://bitcointalksearch.org/topic/m.50061632









3 – WHAT HAS HAPPENED TO THE ALGO, AS THE MNX PRICE DOES NOT SEEM TO BE FOLLOWING THE BTC PRICE AT ALL OF LATE?

Boris answer: MinexBank Algo is devoted to correct supply/demand. It cannot manage this couple if there is no couple - no real demand, in such situation the algo is useless. To make this real demand that will be regulated by MinexBank we are working on the services that will use MNX (using MNX  as a marker of a loyalty program (more MNX - fewer fees) for cards, loans, merchant and future products).  


Real:

Truth is that he promised in Whitelist that algo will automatically react in case of EXCESSIVE demand or supply and make supply/demand equilibrium,KEEPING PRICE IN PREDETERMINED RANGE.It was main reason for many investors to invest in Minexcoin.

Let see what he was talking about it in Whitelist:


























In reality we see MASSIVE LOWERING of parking rates during high supply and Minexbank DIDNT BUY 1 MNX ever to subdue pressure from sellers !!!



6 – HOW CAN WE BE ASSURED THAT THIS NEW CARD WILL NOT BE STOPPED OR SUSPENDED?

Boris answer: Actually, we have no guarantees, moreover, each project has such risks. For instance, E-payments and Shift closed their card programs it means that even big and famous projects cannot avoid these risks. Some projects (Wirex) close their programs even before releasing. Sure, it seems that we forecast all the risks with a new contract, that is why we were customizing/adjusting the contract for our project for two months.


Real:

If you do according to law and VISA or Mastercard regulations nobody will cancel your program. Why they would do that? But if you dont work according to law and trying to avoid VISA//MC regulations than,of course, you cant give any guarantees because you know that your program will be cancelled ,just dont know how fast.

E-Payments didnt close their program,but suspended temporarily,because they made breach of agreement with MC.Now they are issuing cards to EEA zone and prepare to launch worldwide.Wirex is working now too.Program Wirex and not only Wirex did till 2018 was closed because card issuer Wave Crest didnt have VISA license for worldwide card distribution,but only for EEA zone plus they issued non-branded cards.



10 – WHAT STEPS HAVE BEEN TAKEN TO ENSURE THAT STYLOPAY IS ABLE TO DEAL WITH THE INEVITABLE EMAILS FROM MNX HOLDERS WHO SUSPECT THE GENUINESS OF THE DEAL?

Boris answer: In our contract with StyloPay is clearly written about crypto aspect of the program work. Please note that the contract is between Chain2pay (MinexPay is a brand elaborated by Chain2pay) and StyloPay. MinexSystems is a MinexCoin developer.


Real:

Stylopay is not main card issuer,but only intermediary sub-issuer of business cards(non-branded) to healthcare and educational insitutions and travel agencies. True card issuer is Singapore based company Match Move and that company do not work at all with crypto. I certainly doubt that crypto relations was mentioned in any form in agreement we dont even know it is real or not. I believe that we will see Upaycard replay all over again.



18 - IF NOT HOW WILL THOSE MNX BE USED?

Boris answer: Will sell it on exchanges.


Rare truthful answer.Dumping will be continued.

Yes,you are right. These "special" people made few millions from ICO and dumping premined coins on naive investors.


Now about newest Boris card scam.

First there are no any evidence about contract with Stylopay,only one mumbo-jumbo sentence from Minexsystems.

Second,Stylopay offers services via Singapore based card issuer Matchmove(https://www.matchmove.com/) to specialized hospitals, travel agencies and educational institutions providing them with non-branded Mastercard Business cards( like Upaycard, with company name instead name and surname on the cards) for theirs patients,students,traveler-guests.

Third ,unlike Upaycard,Stylopay and Matchmove does not provide cards for crypto related services at all(trading,crypto wallets,buying/selling),so Chain2pay cant legally gets theirs business cards.We can expect that Boris will do another scam like he did in UAB KRISTOLINIS DUGNAS case - he has to find another shell company from healthcare,education or travel business(I bet on that) to give him cover for illegal using theirs cards for crypto related services.

It is scam even worse than previous with UAB KRISTOLINIS DUGNAS and even if (and that is big if) he somehow obtains cards, these cards will be cancelled even faster than in Upaycard case,without any delay ,the moment Stylopay and Matchmove find out that Boris is using theirs cards for crypto selling services and forcing users to pay him tariffs and fees for that.It will be very short living scam.

https://www.stylopay.com/partners.html#how-works

https://www.stylopay.com/terms.html

https://www.matchmove.com

I think some of those "special" people from the early pre-launch days of Minexcoin must have made millions of US$ by dumping thousands of MNX when the price was at $20, $30, $40 and even $56 each.

That belief you mentioned that Boris had in his vision, in my opinion it was not belief it was pure greed. He knew he was selling a dream to newbies and gullible fools who would invest blindly but he needed help from other users to post as much propaganda as possible to suck people in. It was the inner circle scammer alliance consisting of Temhuk and pool operator Racquemis1 along with paid trolls such as Jedgar, Yurii Pohrebniak / yurez83, akira128 and several others allow him to promote the lies which then fool gullible users and newbies in to investing. The inner circle scammer alliance are just as much criminals as Boris is. I hope they all lost money in this scam.




They posted this in their censored thread a short while ago:

Now it is obvious that it was scam from the beginning,where Boris is just frontman.I strongly believe that multiple persons are involved in this so call "rogue alliance of small construction businessmen-RASCB" .

They saw opportunity in cryptoworld and ICOs as one unregulated bussiness to take a lot of money for themselves without any consequences.Whitelist was just a bait for investors.Almost immediately after ICO phase ,money was diverted partly in theirs pockets and partly in theirs own private projects.We know for gaming project,but we cant be sure that it was only one.

While other members involved in scam were just greedy and only want to siphon-off as much as possible money,Boris saw it as opportunity to prove others and to himself as a great businessman,so he invested part of money in gaming project with only goal to make him multi-millionaire or even billionaire.He multiple times repeated how he firmly believe in obvious nonsense that MNX will reach +$50000 value and that MNX will become global payment option No1. He deeply believed in it blinded by his super ego.

Younger members of Minexsystems scam wanted to make theirs own scam and founded Republia which failed miserably because people lost any trust to people heavily involved in Minexsystems scam.

Do you think there was ever a genuine project here or was it a scam from the beginning trying to siphon-off as much money possible especially when MNX were trading at over $56 and was worth over $169 million?

It is very difficult to understand why Boris would use this whole project as a front just to get as much money as possible just to divert in to his VR/AI dreams. As his history in Court over Tax issues suggests Boris is not exactly the most honest or trustworthy person around so it is obvious some of those funds siphoned-off must have been used to live off to support his lifestyle.

It is abandonned coin,sinking to the bottom and holding only by few remaining gamblers who believe that somehow Boris will save coin in the last second... Hope dies last. 

Now it is getting worse.... MNX price is crashing, their online chats and presence has diminished





Less than 18 months ago Minexcoin was valued at over $169 million and coins were trading at over $56 each

Now they are trading at less than $0.18 each and Minexoin is valued at less than $1 million

The end game is very close now...

It lasts longer than expected for a scam due to few reasons :

- people genuinely believed in Whitelist and Boris promises. Could not see that his promises were completely baseless and with one purpose only - to fool them

- Temhuk troll team created a hype about it,fooling people about real nature of Minexcoin.It works until hard evidences about Minexcoin emerged  

- people didnt know about Boris bad business history and numerous lawsuits against him

- people didnt know that Boris almost immediately after ICO diverted collected money to fund his private projects instead promised in Whitelist

- people didnt know that Boris is dumping his free premined coins all the time and is using money from it for his own purposes which has nothing in common with investors interests

- people want to believe it will be better - hope dies last

WHAT THE ACTUAL FUCK?


BORIS AND HIS FUCKBOIS NEED TO BE SUCKING DICK IN SOME GULAG ASAP.
THEY ARE NOTHING BUT DISGUSTING SCAMMING C.U.N.T.S

Things are looking dire. I am still confused about how the scam lasted this long and how it is still going on even though it is literally going to end very soon.




If there is no money going around then it would be impossible for Boris to retain staff, exactly who remains and who has left is a mystery right now.

The desperate manner in which temhuk and yurez83 were promoting and pumping this scam had to be because they were investors. They just wanted to lie in order to get investors to buy MNX in the hope they could recoup their losses.

Maybe scammer Racquemis was not an investor directly but he run pools and have made a lot of MNX so it was also in his interest to promote the scam.








It seems ridiculous that trades are taking place on HitBTC for $0.906723 but the amount on EXMO is $0.192068

Some pathetic fool is trying to pump the price to sell to himself and then buy again from himself. Thankfully CMC is excluding those inflated scam amounts.

Where is Temhuk? Any official info?
I think Boris did not fire anyone, there are people who have the honour(except Temhuk  ) and they don't want to participate in such dirty affairs.

Boris fired a lot of people,admitted that he has no clue what to do next,except to try to use Minex to squeeze every last cent from few remaining people still believe in Minex.

After Temhuk departure, Racquemis and Cryptorich are now main Minexcoin promoters on Telegram.

This is going to be deleted from the censored Minex thread so am posting it here

It is feedback from 2017-12-14. In this time, many people believe in Minex project and everything looks fine. I guess user Anon11073 was sold his MNX and he might not pay attention to him.
If you don't believe in his evaluation, you always can remove it from your trust list.
Just add ~ ahead of the username which you want to exclude from your DT list. Something like: ~Anon11073

There is no money income to Minexsystems. Boris fired Marketing and most of support staff and Temhuk troll team was unofficial part of it.

But ,when you think that Minexsystems cant goes more into scam direction,Boris shows you there can be always more !

From theirs last post in Medium and paid comments on Facebook,it is obvious that Boris turned Minexsystems into the mixture of Binary options and Giveaway scam.Paid bots are promising unrealistic,false profits if you want to use Boris version of binary options - BTC SWAP in which if you make good price prediciton in 1 hour period ,he will return you yours money with 0% profit,but if you make a wrong prediction,Boris will take you 25% of money.

This new, more vicious scam version of Minexsustems, clearly shows that Boris is relentless in stealing money from people. He will use/abuse Minexsystems to the last cent he can take from people.

https://www.facebook.com/minexcoin/photos/a.636957616464655/1206368799523531/?type=3&theater

https://medium.com/minecoin-blog/new-minex-web-wallet-tool-btc-swap-ae9042a62b6b











At the same time Minexsystems is starting to sell MNX coins directly to exchanges. From the rest of Dev.fund 1501 MNX were sent to exchange. Draining Minexsystems to the last cent in every possible way is continuing:

Guys, I need a bit of help understanding something..

I was not curious before but after making my custom trust list I realized user MineCoin.org is showing a positive trust review from Anon11073, which is not only staff but is also on the trust list of Theymos...

Furthermore, his positive review is...well how to put it....garbage!

Has anyone spoken about this with either him or theymos?

Something must be seriously wrong at Minex because temhuk and yurez83 were the biggest propaganda spreaders trying to fool investors in to buying MNX but both have gone quiet. Actually, both have the same tactic, they left this thread then went over to the Russian threads spreading misinformation.

Minexpay/Minexsystem/Minexcoin is almost dead and Republia is never going to live up to its hype and will never deliver any form of the alleged super fast blockchain technology that interested Paxnet in to allowing Republia using its office in South Korea. Both projects are going to end with investors losing everything the invested.