Epik stealing money without apologizing

[topdom]

Epik terrorizing domain business more and more.

One of the best sides of Epik was live chat 24/7.
Now we can't chat when we login.

You can't register ANY DOMAIN now at Epik.
For many days this bug stays there.
I have 4 figures of money there which I can't use.

You can't register or renew, and when you
"register a domain", they will take the money,
and forget about it.

After several warnings, they still don't issue refund for failed registrations.
No response.

Pure domain terror.

I'm sure most people at Epik are good people, but there is at least one
which should be arrested and stay in prison forever.

And whoever that guy is , he is one of the most powerful ones there.
Eliminate that guy, and everything will be ok.
Any ideas who that evil monster is (I don't think he is Mr. Monster).

 

[Future Sensors]

Sorry to hear about your problems with Epik, @topdom

I'd suggest that you leave them asap if possible.

 

[Reallybigidea.com]

Its already more than 27 hours ago that order was submitted money paid domain still unregistered. Tons of tickets was sent. This is ridiculous... selling domains on Epik marketplace doesn't makes sense anymore because you can't use masterbucks for new domain registrations.

Is Epik still accredited registrar?

 

[BetoWH7]

really sad to hear this news, i was procrastinating, but now i will move my domains somewhere else.

 

[topdom]

I mean, Epik was ok to good from time to time recently. Now they are dead, or they should be in a different sense.

 

[Ostrados]

I had like 20% of my domains at Epik but after the database leak scandal I immediately transfered them out to a safe registrar, changed password, deleted credit card and never used Epik again.

I wonder why you didn't do the same?!

 

[bmugford]

Masterbucks as a currency was a great idea..

What was great about it? It is an unregulated internal currency, leading to the commingling of funds by an unlicensed escrow company, and an inability to pay customer debts.

If the "escrow" service was paying out in actual currency, and using industry standard practices, none of this could have happened.

Brad

 

[bmugford]

I have 4 figures of money there which I can't use.

You can't register or renew, and when you
"register a domain", they will take the money,
and forget about it.

Epik's current problems are pretty well documented.

You have posted multiple times about issues with them.

I guess you don't have many options as you could request a withdrawal and get in line with all the other people who have not been paid, and now it doesn't even seem like you can use the balance at all.

People have reported registrations and renewals taking many days. It's a shitshow for sure.

Brad

 

[LoveCatchyDomains]

There are a lot of Epik and RM haters out there that will post any derogatory comments

Many of these individuals felt they were hurt by them. Epik and RM have been offered the opportunity to respond here on Namepros forum by some of those members posting comments. Epik had provided some direct thread responses initially, but none yet from RM. Better communication from them may have helped clear up confusion and help lower the number of negative comments.

 

[bmugford]

How about one one of the other smaller registrars buying it, like Dynadot or NameSilo? After all, GoDaddy is already very large and #1 in registrations.

With all the controversies, including the latest financial disaster, I am not sure what brand value Epik really has.
I could see another company maybe just acquiring their domain customers, but not the other businesses like hosting.

I doubt GoDaddy, Dynadot, or other reputable players in the field really want to deal with that potential fallout.

Brad

 

[Reallybigidea.com]

What happens if Ep*k registrar license is revoked?

Ep*k finally stopped domain registration process. My last 3 dotcoms was unregistered. I also delist all domains from their marketplace. Preparing for transfer away.

 

[Reallybigidea.com]

What was great about it? It is an unregulated internal currency, leading to the commingling of funds by an unlicensed escrow company, and an inability to pay customer debts.

If the "escrow" service was paying out in actual currency, and using industry standard practices, none of this could have happened.

Brad

I mean it was useful before 2022.

 

[Future Sensors]

I mean it was useful before 2022.

It was also used by Epik customers who, for various reasons, were unable or unwilling to use other payment methods. At some point, Epik itself decided to have certain payouts only via Masterbucks, which got even more people into trouble.

 

[VadimK]

I had like 20% of my domains at Epik but after the database leak scandal I immediately transfered them out to a safe registrar, changed password, deleted credit card and never used Epik again.

I wonder why you didn't do the same?!

Well, money could be a reason, and a real one. If you have 1000 domain names it's $11000 to transfer then to Dynadot let's say, and $5500 if it's just a half. Not to the point that one shouldn't do it, but clearly see why not as well )))

 

[bmugford]

I knew but forgot about the whole new seo. Yeah, epik is nice but people try and make them sound like 1and1 which rebranded and doesn't use that name now. If, it were for the masterbucks issue people would speak more highly of epik because domains are so cheap to renew and transfer-in. Maybe, godaddy should buy them and just create godaddy account for all the epik customers and move their accounts to their network free if they can do that without 60-day lock because that would make people mad.

Well, in fairness before that they suffered a basically unprecedented level data breach, at least in the domain field, which highlighted their poor security practices. Even after that event it was unclear what they did to improve their security.

In the domain world they might be known for other things, but outside that all they are really known for is that data breach and the clients they host.

I am just saying any acquisition would come with a lot of baggage. I think GoDaddy would be the least likely buyer. They have had many issues with them in the past and I doubt they would want any association whatsoever.

Brad

 

[bmugford]

@Rob Monster I love your register but some disagree can you comment here?

Last seen Oct 20, 2022

He has not really said anything publicly since he was replaced as CEO in early September.
The entire company has gone radio silent basically.

Brad

 

[bmugford]

I mean it was useful before 2022.

That's probably true, but something happened where it collapsed.

An escrow company is supposed to work like this -

Bank Account 1 - Company funds.
Bank Account 2 - Where escrow funds are held.

How Epik appears to have worked -

Bank Account - company funds & escrow funds. That is what commingling is.

The commingling of funds alone though is not enough for this to happen. Something needed to happen to those "escrow" funds. It seems like Epik doesn't even know where some of the funds actually went.

The use of an internal token just made this even more possible.

Brad

 

[marijuanadomain]

This is pure stealing, crime in action
Someone needs to go to jail!!

 

[LoveCatchyDomains]

I think Godaddy should buy this registrar. Epik.com is great.

How about one one of the other smaller registrars buying it, like Dynadot or NameSilo? After all, GoDaddy is already very large and #1 in registrations.

 

[bmugford]

Masterbucks reminds me of bitcoin for some reason not sure why maybe it's the potential for gains or losses.

Well, Bitcoin is not an internal token. Masterbucks is more like Dave & Buster's tokens.
It is an internal currency with a fixed value.

Because it is not traded, what is the upside for gains?

The downside however is the system collapses and it could be worth zero.

So basically, it is the exact opposite of a decentralized token. It is not traded, instead being controlled by one single company. You are completely at their whim, as people can see now.

Brad

 

[Daniel Owens]

Well, Bitcoin is not an internal token. Masterbucks is more like Dave & Buster's tokens.
It is an internal currency with a fixed value.

Because it is not traded, what is the upside for gains?

The downside however is the system collapses and it could be worth zero.

So basically, it is the exact opposite of a decentralized token. It is not traded, instead being controlled by one single company. You are completely at their whim, as people can see now.

Brad

Yeah, weird that masterbucks isn't monitored by the IRS or something lol. I guess once you cash it out. Can't remember what my cash-out fee was last time.

 

[Reallybigidea.com]

Front running detection as well
e. G. I have submitted the order - domain registration for hitechbiz.com paid via masterbucks on 23.30 zulu time and after 4 minutes 23.34 zulu time it was registered by another person I think someone from Epik stuff grabbed this domain via another registrar because i instantly got email Failed registration of hitechbiz.com typically i getting such emails after 24 hours.
The domain was available for reg around 4 hours and nobody touched it.

 

[Reallybigidea.com]

Good news I've got instantly refund to the source of payment without waiting 24 hrs. Strange...

 

[David Day]

It sucks to see Epik.com tumbling to the ground. It was a good platform.

 

[bmugford]

Yeah, weird that masterbucks isn't monitored by the IRS or something lol. I guess once you cash it out. Can't remember what my cash-out fee was last time.

That is another example of why an internal token like that can be abused. The company can basically just arbitrarily impose their own terms.

This is what happened with Masterbucks. There was no separate TOS, then while the funds were frozen from withdrawal they imposed a new TOS that no one agreed to, or had a chance to opt-out of.

This new TOS had many questionable parts, but it also added new withdrawal fees that were basically price gouging.

For instance they are charging a percentage of a ACH/Wire now -

ACH	0.75% of transaction	USD USA Based Accounts only
Wire	USD 45 + 2.5% of transaction	USD Only

That is something that is far outside an industry standard practice and leads to exorbitant fees.

Brad