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.

 

[DomainsGENERAL.com]

Also, when you buy a company you are buying all the assets AND debts, so any potential buyer would have had to honor these debts.

Yes, if the whole existing company is bought. But assets of the company can be bought instead.
From the seller's POV, this would make money to pay existing obligations. And from the buyer's POV, debt and most liabilities don't come up with it.

Somewhere in there a new Masterbucks LLC popped up in Wyoming, then after that a Masterbucks LLC was registered as a foreign LLC in Washington state.

Brad

Maybe (pure speculation), this is some preparing for a sale by setting up new and clean entities.
Are the people having received MB in the past owed money by the Irish company? Or this new US LLC? This doesn't seem totally clear. Have previous obligations of the Irish entity towards customers been transferred to the US LLC, or not?

 

[NYJimbo]

@epik @Rob Monster

TIME TO STOP HIDING !

COME OUT AND TELL US WHAT IS GOING ON.

 

[smokeandpancake]

Epik still owes the former Capital Partner that infused it with $16M last year. After Epik's missing deadlines and getting 'hacked', the Partner decided to back out and demanded their money back. Rob Monster was at risk of being charged with fraud, but weaseled his way out of it by negotiating an installment payment deal with the Capital Partner.

Right after the installment agreement, Rob fires the consultant and brings in his con-man protégé Brian Royce, who has his own history of failures and judgements for lack of payment. Birds of a feather.

Everyone affected by these fraudsters should begin with submitting claims to the Washington State Attorney General's office of Consumer Protection.

 

[Derek Peterson]

Epik still owes the former Capital Partner that infused it with $16M last year. After Epik's missing deadlines and getting 'hacked', the Partner decided to back out and demanded their money back. Rob Monster was at risk of being charged with fraud, but weaseled his way out of it by negotiating an installment payment deal with the Capital Partner.

Right after the installment agreement, Rob fires the consultant and brings in his con-man protégé Brian Royce, who has his own history of failures and judgements for lack of payment. Birds of a feather.

Everyone affected by these fraudsters should begin with submitting claims to the Washington State Attorney General's office of Consumer Protection.

Interesting. Couple quick questions:
1) Who is/was the capital partner?
2) In Rob's infamous post hack livestream he mentioned an investor coming in with $32M, is that the same one?
3) How do you know they backed out and threatened Rob with Fraud?

 

[bmugford]

Epik still owes the former Capital Partner that infused it with $16M last year. After Epik's missing deadlines and getting 'hacked', the Partner decided to back out and demanded their money back. Rob Monster was at risk of being charged with fraud, but weaseled his way out of it by negotiating an installment payment deal with the Capital Partner.

Right after the installment agreement, Rob fires the consultant and brings in his con-man protégé Brian Royce, who has his own history of failures and judgements for lack of payment. Birds of a feather.

Everyone affected by these fraudsters should begin with submitting claims to the Washington State Attorney General's office of Consumer Protection.

Hmm... Interesting timeline of events.

I assume the "consultant" that was fired was the plaintiff in the previously referenced lawsuit?

Do you have any more information or citations to back it up?

Brad

 

[bmugford]

@epik @Rob Monster

TIME TO STOP HIDING !

COME OUT AND TELL US WHAT IS GOING ON.

 

[KRajmys]

Never a fan of Epik.

 

[smokeandpancake]

Interesting. Couple quick questions:
1) Who is/was the capital partner?
2) In Rob's infamous post hack livestream he mentioned an investor coming in with $32M, is that the same one?
3) How do you know they backed out and threatened Rob with Fraud?

I received this information from a former Epik employee who was close to the matter. Would be happy to discuss further via DM.

 

[Derek Peterson]

I received this information from a former Epik employee who was close to the matter. Would be happy to discuss further via DM.

I'm there.

 

[NYJimbo]

To those who are waiting for tens or hundreds of thousands of dollars, it might do you well to find a professional service that can run a real criminal, civil and financial background check on Robert Monster and Brian Royce.

 

[Kassey Lee]

I don’t believe anyone got back money from Masterbucks after 10th Oct, even fund withdrawal by Paypal. Epik is a cheating company.

My Epik account status:

=====
Status: Approved - Submited on: 09/26/2022 - Updated on: 09/27/2022
Revalidation date: 11/01/2027
=====

Withdrawal remains "Pending" and conversation with support staff ongoing.

 

[Bob Hawkes]

Status: Approved - Submited on: 09/26/2022 - Updated on: 09/27/2022
Revalidation date: 11/01/2027

It really says 2027!??

 

[Igor Gabrielan]

If you were transferred a million by mistake, would you give it or would you leave it for compensation for nervousness?

 

[DomainsGENERAL.com]

It really says 2027!??

When verification will need to be done again, I assume.
That's only the "verification" status. The withdrawal still haven't been issued, if I understood correctly.

 

[LoveCatchyDomains]

It really says 2027!??

Well, wouldn't that be good if validation is good for approximately five years? Although, one would think that validating once might be OK as well. Is this related to KYC standards?

 

[NYJimbo]

Epik still owes the former Capital Partner that infused it with $16M last year.

If they really got $16 million thats unbelievable. Where did it go ? What could they possibly have done with it ?

 

[DomainsGENERAL.com]

Well, wouldn't that be good if validation is good for approximately five years? Although, one would think that validating once might be OK as well. Is this related to KYC standards?

Hackers have to be able to find fresh documents. That's why there is a need to update them
I don't want to scare people, but this kind of documents are then for sale on the darkweb. Don't believe they all stay safe everywhere (I'm not implying they come from Epik or Veriff).

 

[Kassey Lee]

It really says 2027!??

Straight from my Epik account page.

 

[Igor Gabrielan]

What can such a company invest 16 or 35 million? Have investors been convinced that an Internet bank can be made on the basis of Masterbucks?

 

[branding]

What can such a company invest 16 or 35 million? Have investors been convinced that an Internet bank can be made on the basis of Masterbucks?

It really depends on the terms of the investment. Investing 10M in a privately owned registrar the size of E might actually be a good opportunity.

Again... depending on the terms...

 

[Future Sensors]

What can such a company invest 16 or 35 million?

Epik Holdings did acquisition after acquisition.

 

[AEProgram]

What can such a company invest 16 or 35 million? Have investors been convinced that an Internet bank can be made on the basis of Masterbucks?

There are people investing 20m every day into nothing but a business plan and most lose their money.

 

[branding]

Btw, the biggest issue for anyone investing in a company like E would be Rob. He's supposedly the majority shareholder. It's his hobby project and most probably is never going to stand down.

If you cannot remove him from the equation, as an investor, it's a high risk investment imo.

Then there's also the hack. The registrar would be worth this kind of money if... you'd be certain the thing is secure. We all know it isn't.

They probably also are a couple of M in debt towards MB users, lawsuits seem to be going on. This stuff adds up real fast with ongoing expenses.

10 M burned easily.

As mentioned upthread, they were kinda bullish on crypto, probably took a big hit there as well.

Another 10M?

We don't know the terms of their acquisitions, most were small, but there were some decent ones among them. A lot of money spent while those services are dealing with their own issues due to the economic downturn, rising energy costs etc.

They're burning money... Real fast.

Now, if their domain count is going to drop, which is likely to happen, they will loose even more. Forget about registry discounts, forget about promos. Say goodbye to new users.

E is in the shit and they know it. That's why they remain silent.

 

[Igor Gabrielan]

Although the business of domain registration and related things does not seem to be classified as a risky type of business.

 

[branding]

Although the business of domain registration and related things does not seem to be classified as a risky type of business.

You're right. It isn't. Untill you bite off more than you can chew.

They took a lot of shortcuts, forgot about organic growth. All of this comes back to bite them eventually.