alert The fund can't be withdrawal from Epik.com via Masterbucks wallet

[enamebroker]

It happened on 23rd Aug 2022 and this matter lasted almost one month without any process. Masterbucks.com declined my fund withdrawal and disabled the button of fund withdrawal. And I contacted Epik.com and got no further action even if Rob Monster got involved in it for two weeks. All the time I was told in email by management review.

What is wrong with Epik.com? Do you think it is normal to disable fund withdrawal? How can I get back my fund from Epik.com? Thanks for your suggestion.

 

[enamebroker]

My question is how to get back my money from Epik and Masterbucks?

 

[Omega Assets]

I bet things are just gonna end something like this:

Official Epik anouncement:

"Dear valuable customers,

We appologize for the incovencience, but we had some technical issues which took longer than expected. It finally got resolved and we are proud to present our updated version 4.3.78, with better performance, immediate withdrawals and much more.

Blah blah blah...

God bless you all for your patience.

Sincerely yours,

Masterbucks team"

And then most people forget just like the hack, until something else.

PS Look at the registrar poll, people still vote for them after all, which boggles my mind, or they have no idea about all that is happening and has happened in the past.

 

[Omega Assets]

My question is how to get back my money from Epik and Masterbucks?

Unfortunately there is nothing you can do, until Epik decides to. When will they release it or if they ever will, is the golden question.

 

[DomainsGENERAL.com]

Masterbucks possibilities ?:

- Hacked, drained
- Asset seizure, forfeiture, freeze
- Ponzi scheme
- Misuse of funds by employees, embezzlement
- Funds used for expenses, but not replenished

Anything else ?

I guess "maintenance" in the sense of a technical big F. up
Like, they can't themselves access the information about who and what withdrawals have been requested.
They're just answering to any complaint as if they knew what withdrawal is pending. Except they don't.

It seems very unlikely, though. Problems seem to have started BEFORE they shut the website down with the "maintenance" page. Before that, the pending withdrawals did appear on the masterbucks website, with the amount and everything. They weren't processed at that time either. The more I think about it and the less I see any possible scenario where the "maintenance" thing is legit :/

OP problem dates August 23 according to his first post ...

"Ponzi scheme" doesn't really seem to apply as no interest or profit was paid out.
For your list: Maybe Epik used Masterbucks to buy domains for themselves from their marketplace and they faced "too many" withdrawal requests. Classic old banking practice of "printing out" too much money (it would be equal to your last supposition).
Maybe they kept the Masterbucks collateral in Bitcoin believing firmly the price wouldn't go lower. Or at least not so low. That didn't happen. -Note: Only speculations.

 

[carob]

Masterbucks possibilities ?:

- Hacked, drained
- Asset seizure, forfeiture, freeze
- Ponzi scheme
- Misuse of funds by employees, embezzlement
- Funds used for expenses, but not replenished

Anything else ?

Act of God.

 

[Recons.Com]

Well, many types of insurance also require that your business operations are compliant with regulations, licensing, and follow some type of standard practices.

Any insurance would likely also need to be a highly specialized offering. What insurance is going to cover an internal currency, that you can't even offer in the state your business is located?

Brad

It won't cover virtual currency. It could cover the real money of that were stolen. The virtual one is just numbers in their server and they can easily change that as needed

 

[bmugford]

It won't cover virtual currency. It could cover the real money of that were stolen. The virtual one is just numbers in their server and they can easily change that as needed

Exactly, so then if someone has thousands in an internal currency and that system is somehow compromised was anything really stolen?

A company could just regenerate the virtual currency in their system, even if there are not sufficient assets to back it up.

If someone takes action against Epik, I think their apparent lack of Masterbucks TOS could be highly problematic for them. That is on top of any regulatory or licensing issues that might currently exist.

Brad

 

[bmugford]

The new Epik CEO (Brian Royce) is like a ghost.

He has not said anything on any venue in his 27+ days since it was announced.
Not on Epik.com, Twitter, NamePros, the other forum, LinkedIn, etc.

https://www.einnews.com/pr_news/588955207/epik-holdings-inc-founder-appoints-successor-ceo

ABOUT EPIK HOLDINGS
Epik Holdings Inc is a world-leading domain registrar and pioneer of innovative technologies that revolutionize digital empowerment in the global marketplace. Epik also owns and operates a global network of data centers that provides resilient hosting and related data management solutions for its customers. Epik was voted #1 Domain Registrar in 2020 and holds a 4.9-star 4.1-star (I fixed it) rating with TrustPilot.

 

[Omega Assets]

The new Epik CEO (Brian Royce) is like a ghost.

He has not said anything on any venue in his 27+ days since it was announced.
Not on Epik.com, Twitter, NamePros, the other forum, LinkedIn, etc.

Brad

Maybe he is second guessing his new role lol

 

[NYJimbo]

The new Epik CEO (Brian Royce) is like a ghost.

Pretty sure he is just a figure head. Rob is still there, just not CEO. Nothing is stopping Rob from "acting" like a CEO.

"Stepping down" is usually just bullshit to remove a problem from the public eye.

 

[Omega Assets]

Pretty sure he is just a figure head. Rob is still there, just not CEO. Nothing is stopping Rob from "acting" like a CEO.

"Stepping down" is usually just bullshit to remove a problem from the public eye.

I wonder if the new CEO even is aware of this thread, sucks to start his new position like this.

 

[bmugford]

I wonder if the new CEO even is aware of this thread, sucks to start his new position like this.

Multiple people have tagged him on Twitter regarding the issue. There is no excuse for not being aware of the situation.

Brad

 

[Future Sensors]

Multiple people have tagged him on Twitter regarding the issue. There is no excuse for not being aware of the situation.

He's just busy raising funds.

 

[Embrand]

I wonder which Epik employee is the one disputing bad reviews at Trustpilot.

 

[Omega Assets]

I wonder which Epik employee is the one disputing bad reviews at Trustpilot.

Rob himself

 

[Omega Assets]

I wonder which Epik employee is the one disputing bad reviews at Trustpilot.

People should link to this thread on trustpilot so they know there is nothing to dispute.

 

[bmugford]

I rarely use Twitter, but made a rare exception -

https://twitter.com/x/status/1575491837888196609

 

[Igor Gabrielan]

Epik battles criticism on a Trustpilot when it could just give people their money.
Some pathological greed.
Reminds me of a monkey who has grabbed the bait and is unable to pull his hand out of the trap.

 

[Kassey Lee]

Maybe some good news. Received this email from Epik today:

"Thank you for being a loyal customer. Currently, Masterbucks is being updated and improved. We are working diligently to get the system up and running. We currently have a target date of Monday, October 10, 2022. We will start processing cash outs in the order received at that time. Please ensure you have completed account verification so your cash out can be processed. Failing to complete account verification will result in further delays. Your current Masterbucks balance can be used within Epik, or it can remain secure in your Masterbucks account until you can cash out.

The Epik team greatly appreciates your continued patience during this time and welcomes you to reach out to our Customer Support team with any questions you may have."

 

[NYJimbo]

Currently, Masterbucks is being updated and improved. We are working diligently to get the system up and running. We currently have a target date of Monday, October 10, 2022.

No excuse for how they have been handling it.
Why October 10 ? Are they waiting for something ?

What if they miss the "target date" ?

Sounds like bullsht to me.

 

[Igor Gabrielan]

Until October 10, you can run very far.

 

[LoveCatchyDomains]

Maybe some good news. Received this email from Epik today:

"Thank you for being a loyal customer. Currently, Masterbucks is being updated and improved. We are working diligently to get the system up and running. We currently have a target date of Monday, October 10, 2022. We will start processing cash outs in the order received at that time. Please ensure you have completed account verification so your cash out can be processed. Failing to complete account verification will result in further delays. Your current Masterbucks balance can be used within Epik, or it can remain secure in your Masterbucks account until you can cash out.

Definitely progress. At least this is a target date, specifies the steps needed in order to obtain the cash, and provides a reassurance that the money will still be there when you want to remove it after October 10th.
Not perhaps as definite as one would hope, but it's a good start.

 

[Embrand]

Maybe some good news. Received this email from Epik today:

"Thank you for being a loyal customer. Currently, Masterbucks is being updated and improved. We are working diligently to get the system up and running. We currently have a target date of Monday, October 10, 2022. We will start processing cash outs in the order received at that time. Please ensure you have completed account verification so your cash out can be processed. Failing to complete account verification will result in further delays. Your current Masterbucks balance can be used within Epik, or it can remain secure in your Masterbucks account until you can cash out.

The Epik team greatly appreciates your continued patience during this time and welcomes you to reach out to our Customer Support team with any questions you may have."

At least some concrete information. But why not communicate it out to all customers and display it on Masterbucks.com?

 

[bmugford]

Maybe some good news. Received this email from Epik today:

"Thank you for being a loyal customer. Currently, Masterbucks is being updated and improved. We are working diligently to get the system up and running. We currently have a target date of Monday, October 10, 2022. We will start processing cash outs in the order received at that time. Please ensure you have completed account verification so your cash out can be processed. Failing to complete account verification will result in further delays. Your current Masterbucks balance can be used within Epik, or it can remain secure in your Masterbucks account until you can cash out.

The Epik team greatly appreciates your continued patience during this time and welcomes you to reach out to our Customer Support team with any questions you may have."

So after weeks (or longer) of withdrawals not being processed, now they need even more time?

It seems like this is not something that should take over a month from start to finish if it is just some upgrade.

Normally upgrades and improvements happen behind the scenes before they go live. They don't bring a payment system down to do it.

This type of thing is not normal.

Brad

 

[LoveCatchyDomains]

So after weeks (or longer) of withdrawals not being processed, now they need even more time?

It seems like this is not something that should take over a month from start to finish if it is just some upgrade.

Normally upgrades and improvements happen behind the scenes before they go live. They don't bring a payment system down to do it.

This type of thing is not normal.

Brad

Hmmm.... the mystery continue. Certainly, a better explanation AND apology would be appreciated.