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.

 

[bmugford]

I think @Kathleen Kalaf has the best claim that I am aware of.

What happened in her case was a straight "escrow" scam.

Epik took actual money, kept it, and involuntarily stuck her with $91K in worthless fake currency.

Rob Monster specifically mentions "likely" paying her, but then implies everyone else is probably screwed.

Brad

 

[jmcc]

This is the section from the breach notice that will cause problems for the deal:
"| 2
To avoid termination of Epik’s RAA, Epik must cure this notice of breach by 22 June 2023, 21
days from the date of this letter, by taking the following actions:
1. Provide a detailed description of the specific actions, with implementation dates and
milestones, the Registrar has taken to ensure the timely and compliant provision of
Registrar Services, including, but not limited to, the timely renewal of gTLD domain
names sponsored by Epik, as required by Section 2.2.5 of the Expired Registration
Recovery Policy.
2. With respect to the several hundred domain names that the Registrar indicated had
been impacted by the issues preventing Epik from timely providing certain Registrar
Services:
a. Explain how the Registrar applied the actions detailed in item number 1 above to
each gTLD domain name.
b. Explain how the Registrar is obtaining confirmation of the resolution of the issues
impacting each gTLD domain name as it pertains to Registrar Services.
c. Confirm the issues referenced in item 2.b. above have been resolved for each
gTLD domain name.
d. Confirm whether Epik has identified any additional impacted gTLD domain
names; and, if so:
i. Indicate how many additional impacted gTLD domain names have been
identified;
ii. Confirm that the actions in item number 1 above have also been applied
to any additional impacted gTLD domain name; and
iii. Confirm the relevant issues for all additional gTLD domain names have
been resolved.
3. Pay all past and currently due accreditation fees, as required by Section 3.9 of the RAA.
4. Upon making full payment of due ICANN accreditation fees, confirm that Epik is in good
standing with respect to all its payment obligations which impact the Registrar’s ability to
timely provide all Registrar Services required under the RAA and ICANN Consensus
Policies.
If by 22 June 2023 Epik fails to take the action and provide the information described in items 1
through 4 above and cure the breach, ICANN shall commence the RAA termination process."

They still have to be fixed. It is a lot of work for Epik.

Regards...jmcc

 

[Samer]

It was a really good idea for Brian to fire an employee, screw her out of $20,000, and then have her wind up working at ICANN.

I hope Netflix is paying attention.
3rd time i’m making the Netflix joke, but never gets old!!

 

[Future Sensors]

@Kathleen Kalaf Have you been contacted about a possible settlement during the last few weeks, as well?

 

[jmcc]

I hope Netflix is paying attention.
3rd time i’m making the Netflix joke, but never gets old!!

There was a Netflix documentary and a series on the fall of Wirecard.

Regards...jmcc

 

[Igor Gabrielan]

Are the court records in the Adkisson case of interest to the prosecutor and the FBI?

 

[GoKaizen]

That's why you treat people with respect.

It was a really good idea for Brian to fire an employee, screw her out of $20,000, and then have her wind up working at ICANN.

 

[Derek Peterson]

I think @Kathleen Kalaf has the best claim that I am aware of.

What happened in her case was a straight "escrow" scam.

Epik took actual money, kept it, and involuntarily stuck her with $91K in worthless fake currency.

Rob Monster specifically mentions "likely" paying her, but then implies everyone else is probably screwed.

Show attachment 239038

Brad

The main reason I wanted to see the APA before it was consummated was to make sure there was a carve out for the escrow victims, not that I could have stopped it, legally. I would be raining down holy hell right now if not for these clauses. There does seem to be a $600K carve out for Kathleen, and others but it annoys me that they didn't specifically list them out with amounts, like they did for other debts. I have no idea if $600K will cover all victims or not.

 

[Kathleen Kalaf]

@Kathleen Kalaf Have you been contacted about a possible settlement during the last few weeks, as well?

I am still a victim waiting to see what happens. I have not been paid.

 

[Derek Peterson]

Here is the main part of APA (asset purchase agreement) that concerns escrow victims and other carve outs. I assume final agreement will be the same except Adkisson's amount will be higher, which we will probably never see. Looks like Royce is getting $380K payday, which is annoying.

 

[bmugford]

The main reason I wanted to see the APA before it was consummated was to make sure there was a carve out for the escrow victims, not that I could have stopped it, legally. I would be raining down holy hell right now if not for these clauses. There does seem to be a $600K carve out for Kathleen, and others but it annoys me that they didn't specifically list them out with amounts, like they did for other debts. I have no idea if $600K will cover all victims or not.

Show attachment 239046


Show attachment 239045

These "is-store creditors" almost certainly refer to the cases where people have paid for services like registrations and renewals, and they were not processed. Those payments were returned as "in-store" credit and not Masterbucks balances.

There is a list of debts owed to companies, but no list of debts owed to customers.

There is a reason Masterbucks and other assets are specifically excluded.

Epik still has serious exposure when it comes to the straight escrow transactions, like Kathleen's.

However, when it comes to ordinary situations of people holding Masterbucks balances, as Rob would say, it looks like Epik plans to make them left "holding the drippy bag".

Brad

 

[Derek Peterson]

This is the section from the breach notice that will cause problems for the deal:
"| 2
To avoid termination of Epik’s RAA, Epik must cure this notice of breach by 22 June 2023, 21
days from the date of this letter, by taking the following actions:
1. Provide a detailed description of the specific actions, with implementation dates and
milestones, the Registrar has taken to ensure the timely and compliant provision of
Registrar Services, including, but not limited to, the timely renewal of gTLD domain
names sponsored by Epik, as required by Section 2.2.5 of the Expired Registration
Recovery Policy.
2. With respect to the several hundred domain names that the Registrar indicated had
been impacted by the issues preventing Epik from timely providing certain Registrar
Services:
a. Explain how the Registrar applied the actions detailed in item number 1 above to
each gTLD domain name.
b. Explain how the Registrar is obtaining confirmation of the resolution of the issues
impacting each gTLD domain name as it pertains to Registrar Services.
c. Confirm the issues referenced in item 2.b. above have been resolved for each
gTLD domain name.
d. Confirm whether Epik has identified any additional impacted gTLD domain
names; and, if so:
i. Indicate how many additional impacted gTLD domain names have been
identified;
ii. Confirm that the actions in item number 1 above have also been applied
to any additional impacted gTLD domain name; and
iii. Confirm the relevant issues for all additional gTLD domain names have
been resolved.
3. Pay all past and currently due accreditation fees, as required by Section 3.9 of the RAA.
4. Upon making full payment of due ICANN accreditation fees, confirm that Epik is in good
standing with respect to all its payment obligations which impact the Registrar’s ability to
timely provide all Registrar Services required under the RAA and ICANN Consensus
Policies.
If by 22 June 2023 Epik fails to take the action and provide the information described in items 1
through 4 above and cure the breach, ICANN shall commence the RAA termination process."

They still have to be fixed. It is a lot of work for Epik.

Regards...jmcc

yeah, number 2 is really only one that can screw the pooch, no one really has any idea what that real number is, except Royce and maybe Monster. Shhh...let's let the deal go through, get everyone paid and then let buyers go after Royce and Monster later on when they realize Royce stuck them with $1.5M of pending renewals that have already been collected on.

 

[Derek Peterson]

These "is-store creditors" almost certainly refer to the cases where people have paid for services like registrations and renewals, and they were not processed. Those payments were returned as "in-store" credit and not Masterbucks balances.

There is a list of debts owed to companies, but no list of debts owed to customers.

There is a reason Masterbucks and other assets are specifically excluded.

Brad

You don't need KYC for that customer category. They probably can't use term "masterbucks" because it is excluded from this deal and probably under investigation.

 

[bmugford]

You don't need KYC for that customer category.

The bottom line really is the customer debts are not listed, assets like Masterbucks are excluded, and I would not trust anything Epik says nor give them any benefit of the doubt.

Even Rob said there is insufficient funds to pay everyone. He lists two people then says "but the rest are not covered".

What is clear is the assets of value would be moving to a Wyoming LLC, and a lot of debt would be remaining in a company with limited or no value.

The agreement is likely murky, by design.

Brad

 

[tonyk2000]

You don't need KYC for that customer category

... and likely for any other customer? Unless I miss anything, Epik(s) are not registered money transmitting or escrow businesses, so why would they have an obligation to report to Fincen or other authorities? Or, in other words, collecting KYC on average Joe who sold something on lets say nameliquidate is as logical as collecting KYC on Verisign. Both are suppliers. Both are supposed to receive $$$ from Epik, and so? They do not collect KYC on Verisign, why would they need KYC on another supplier - John Smith or his "john LLC"? So, Epik might actually implement KYC as an excuse not to pay. Not all victims, especially non-US ones, were technically able to submit all the stuff asked by veriff... And, btw, they (epik) also owe $$$ to veriff.

 

[bmugford]

... and likely for any other customer? Unless I miss anything, Epik(s) are not registered money transmitting or escrow businesses, so why would they have an obligation to report to Fincen or other authorities? Or, in other words, collecting KYC on average Joe who sold something on lets say nameliquidate is as logical as collecting KYC on Verisign. Both are suppliers. Both are supposed to receive $$$ from Epik, and so? They do not collect KYC on Verisign, why would they need KYC on another supplier - John Smith or his "john LLC"? So, Epik might actually implement KYC as an excuse not to pay. Not all victims, especially non-US ones, were technically able to submit all the stuff asked by veriff... And, btw, they (epik) also owe $$$ to veriff.

Good point.

The company that was fined for offering unlicensed insurance services, and scammed people with their unlicensed "escrow" services, cares about "KYC" requirements.

Maybe "KYC" is just a useful tool to create an undue burden to actually getting paid.

You remember how many people were having problems with Masterbucks and ID issues, especially in foreign countries? Some people got stuck there with no resolution.

I mean, even if you did end up getting verified they didn't pay out anyway. Your Masterbuck funds were just stuck is "pending" forever.

Brad

 

[Derek Peterson]

The bottom line really is the customer debts are not listed, assets like Masterbucks are excluded, and I would not trust anything Epik says nor give them any benefit of the doubt.

Even Rob said there is insufficient funds to pay everyone. He lists two people then says "but the rest are not covered".

Show attachment 239051

What is clear is the assets of value would be moving to a Wyoming LLC, and a lot of debt would be remaining in a company with limited or no value.

The agreement is likely murky, by design.

Brad

I don't think it is murky by design, they didn't expect it to be made public so n oneed, but definitely not as precise as I would like and the fact that the victims are not listed out specifically shows just how much these people (Rob and Brian) care about others. Anyway, Monster is probably referring to Luigi, with whom he has a loan with, and I'm sure many others that were specifically Monster's personal deals and he wants this sale to cover all of those so he can keep ALL the money he stole from JJE and TVT but that isn't going to happen, which is nice.

This whole thing is far from over and actually might get more interesting once all these financial victims are free and clear.

 

[Derek Peterson]

... and likely for any other customer? Unless I miss anything, Epik(s) are not registered money transmitting or escrow businesses, so why would they have an obligation to report to Fincen or other authorities? Or, in other words, collecting KYC on average Joe who sold something on lets say nameliquidate is as logical as collecting KYC on Verisign. Both are suppliers. Both are supposed to receive $$$ from Epik, and so? They do not collect KYC on Verisign, why would they need KYC on another supplier - John Smith or his "john LLC"? So, Epik might actually implement KYC as an excuse not to pay. Not all victims, especially non-US ones, were technically able to submit all the stuff asked by veriff... And, btw, they (epik) also owe $$$ to veriff.

I agree, Epik/Rob were playing very fast and loose with their "escrow" service but that is beside the point, the only customer type asked to complete KYC are escrow people so obviously that clause is referring to escrow people.

 

[bmugford]

I agree, Epik/Rob were playing very fast and loose with their "escrow" service but that is beside the point, the only customer type asked to complete KYC are escrow people so obviously that clause is referring to escrow people.

I think it is a big assumption that is referring to "escrow" customers. Even if it was, that would exclude many Masterbucks balances.

Not all the Masterbucks balances were from "escrow" transactions. Most were probably from regular market place sales like NameLiquidate.

Yet, Masterbucks added "KYC" for all withdrawals. This ended up being an undue burden for many.

I don't see why Epik would not demand "KYC" for regular "in-store credit" withdrawals. It is almost the same thing as Masterbucks, just under a new name.

Brad

 

[bmugford]

I hope every customer gets paid back, but let's be realistic here...the odds are not great.

How many customers have been paid in the last (9) months since Brian Royce was appointed CEO?

I would love for this thread to eventually die a natural death, because every victim has been paid back and made whole.

Brad

 

[Derek Peterson]

I think it is a big assumption that is referring to "escrow" customers. Even if it was, that would exclude many Masterbucks balances.

Not all the Masterbucks balances were from "escrow" transactions. Most were probably from regular market place sales like NameLiquidate.

Yet, Masterbucks added "KYC" for all withdrawals. This ended up being an undue burden for many.

I don't see why Epik would not demand "KYC" for regular "in-store credit" withdrawals. It is almost the same thing as Masterbucks, just under a new name.

Brad

I would assume name liquidate and all domain sales used the escrow service. I'm sure they somehow parsed escrow (epik) and masterbucks (masterbucks) but we just don't know anything for sure until it all shakes out. I mean we know Luigi is owed like $1.5M, and many, many, many others so certainly $600K would not be enough to cover all of those masterbucks people. Remember, Monster was handing out masterbucks like candy, he actually did the same with shares. Both cost him nothing and both were fake.

 

[bmugford]

I would assume name liquidate and all domain sales used the escrow service. I'm sure they somehow parsed escrow (epik) and masterbucks (masterbucks) but we just don't know anything for sure until it all shakes out. I mean we know Luigi is owed like $1.5M, and many, many, many others so certainly $600K would not be enough to cover all of those masterbucks people. Remember, Monster was handing out masterbucks like candy, he actually did the same with shares. Both cost him nothing and both were fake.

Yeah, the bottom line is the known debt to customers greatly exceeds the amount allocated.

Brad

 

[Future Sensors]

I would love for this thread to eventually die a natural death, because every victim has been paid and made whole.

The Epik data breach thread eventually died after many pages, with no satisfactory feeling. After that, Epik continued as if nothing had happened and even suddenly thought it was an expert in cybersecurity.

The current debacle that has been taking place for some time now will become much harder to simply ignore. I hope that people will be alert as new initiatives emerge from cowboys Robert W. Monster, Brian M. Royce and all who helped facilitate this scam (actively or passively).

 

[bmugford]

The Epik data breach thread eventually died after many pages, with no satisfactory feeling. After that, Epik continued as if nothing had happened and even suddenly thought it was an expert in cybersecurity.

The current debacle that has been taking place for some time now will become much harder to simply ignore. I hope that people will be alert as new initiatives emerge from cowboys Robert W. Monster, Brian M. Royce and all who helped facilitate this scam (actively or passively).

No matter how strong your views are on "free speech" or whatever else, when a company starts messing with your assets and money, it's time to move on.

There are plenty of registrars out there that offer good prices, service, support, and don't scam you.

Brad

 

[Derek Peterson]

Yeah, the bottom line is the known debt to customers greatly exceeds the amount allocated.

Brad

It is a lot less now then it was at start for one simple reason, Monster tricked a couple creditors into paying off all his bills and taking massive haircuts on their loans.

Sadly the debt settlement agreements mentioned in 2.a.2 and 3 are not included in filing but hopefully they can still go after Monster personally for the rest.