SCAM: MinexPay crypto debit card by minexpay.com / Minexcoin

[thunderjet]

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.

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.

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.

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 int he 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 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

[JollyGood]

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...

[thunderjet]

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 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. 

[JollyGood]

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

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.

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.

[thunderjet]

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

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.

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.

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.

[JollyGood]

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.

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:

Dear Community! We are glad to notify you that Chain2pay, the operator of MinexPay payment service and Minex Web Wallet, has signed the contract with StyloPay - payment service provider. Due to the cooperation with StyloPay we will be able to resume MinexPay card program and also to attract more users. We hope that the card program will be resumed not later than in 2 months.

[thunderjet]

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.

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:

Dear Community! We are glad to notify you that Chain2pay, the operator of MinexPay payment service and Minex Web Wallet, has signed the contract with StyloPay - payment service provider. Due to the cooperation with StyloPay we will be able to resume MinexPay card program and also to attract more users. We hope that the card program will be resumed not later than in 2 months.

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

[thunderjet]

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://bitcointalk.org/index.php?topic=5090539.msg50061632#msg50061632









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.

[JollyGood]

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

Does MNX have a bottom? will it be 10 or 5 cents? I think they are exiting this scam. Get rid of it while you can.

[thunderjet]

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

Does MNX have a bottom? will it be 10 or 5 cents? I think they are exiting this scam. Get rid of it while you can.

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.

[examplens]

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)


---

One man show cost 270k USD monthly?? which drug he uses?
They have only a website and i think I see cafe machine in some garage. Financed by his own fund?

[JollyGood]

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

Does MNX have a bottom? will it be 10 or 5 cents? I think they are exiting this scam. Get rid of it while you can.

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.

Yes it seems $0.15 is the next landmark in the inevitable decline of Minex.

All mouthpieces for both Republia and Minex have gone quiet. The end of both these scams is much closer than we anticipated.

[JollyGood]

So here we are again....

MNX is heading towards the $0.15 mark very soon

The previous all-time-low was $0.168985 but during the time of this post the new all-time-low is $0.167567

[JollyGood]

The decline for MNX continues

It is at another new all-time-low is $0.165288

[thunderjet]

The decline for MNX continues

It is at another new all-time-low is $0.165288

Yes,MNX coin is keep sinking. Price now is  $0,164972.

One more interesting thing is that theirs support members and hard core supporters Racquemis and Cryptorich completely disappeared from Minexcoin Telegram chat.

Also,few remaining miners are threating to leave MNX mining if theirs incentive is not getting substantial bigger than it is now,so 51% attack looks more and more possible.

It looks that Minexcoin is falling apart faster and faster every day.

[JollyGood]

Yes,MNX coin is keep sinking. Price now is  $0,164972.

One more interesting thing is that theirs support members and hard core supporters Racquemis and Cryptorich completely disappeared from Minexcoin Telegram chat.

Also,few remaining miners are threating to leave MNX mining if theirs incentive is not getting substantial bigger than it is now,so 51% attack looks more and more possible.

It looks that Minexcoin is falling apart faster and faster every day.

The pools operated by scammer Racquemis1 are still operating so I wonder what the reason is he operates useless and worthless pools but now no longer promotes them.

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 have almost fully abandoned this scam but made no apology to the investors that they fooled in to parting with their crypto and cash.

[thunderjet]

Yes,MNX coin is keep sinking. Price now is  $0,164972.

One more interesting thing is that theirs support members and hard core supporters Racquemis and Cryptorich completely disappeared from Minexcoin Telegram chat.

Also,few remaining miners are threating to leave MNX mining if theirs incentive is not getting substantial bigger than it is now,so 51% attack looks more and more possible.

It looks that Minexcoin is falling apart faster and faster every day.

The pools operated by scammer Racquemis1 are still operating so I wonder what the reason is he operates useless and worthless pools but now no longer promotes them.

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 have almost fully abandoned this scam but made no apology to the investors that they fooled in to parting with their crypto and cash.

Operating Minex mining pool is far from profitable for a long time.

Racquemis pool has now about 73% dominance, which is about 700 coins mined daily. Pool fee is 0.5%,which brings him 3.5 coins per day or $0.55 daily at today prices.Even when price was $1 and with 50% dominance ,pool income was just $2.4 daily.

Boris had to give him additional money to keep pool operating and for playing such active role in Minexsystems promotion or he would abandoned project months ago.Pool income is so low for months that keeping it and promoting-defending more than obvious Boris scam schemes was not profitable for him.

With Instabuy closure,there is no more income sources for Minexsystems,Boris has to return some money to keep it working and he hates to do that. Boris made serious expenses cut off and support to Racquemis was on the list too.No money,no support  as we saw when he recently cut off support for Temhuk troll team.


And price of MNX continue to falling today,closing to $0.15 support level:

[JollyGood]

Operating Minex mining pool is far from profitable for a long time.

Racquemis pool has now about 73% dominance, which is about 700 coins mined daily. Pool fee is 0.5%,which brings him 3.5 coins per day or $0.55 daily at today prices.Even when price was $1 and with 50% dominance ,pool income was just $2.4 daily.

Boris had to give him additional money to keep pool operating and for playing such active role in Minexsystems promotion or he would abandoned project months ago.Pool income is so low for months that keeping it and promoting-defending more than obvious Boris scam schemes was not profitable for him.

With Instabuy closure,there is no more income sources for Minexsystems,Boris has to return some money to keep it working and he hates to do that. Boris made serious expenses cut off and support to Racquemis was on the list too.No money,no support  as we saw when he recently cut off support for Temhuk troll team.


And price of MNX continue to falling today,closing to $0.15 support level:

Minex price is heading exactly where you thought it would be heading, towards the $0.15 mark.

Thank you for the additional information about the pools and the amounts scammer Racquemis1 is making per day. It is peanuts and that makes me happy because the scammer deserves even less.

I think all trolls have abandoned this project and demolition man Boris is working out the best way to scam as many people as possible before jumping ship.

[JollyGood]

It seems to be heading towards the $0.10 mark now.

Where are the trolls defending this scam? They have all but vanished.

Where is demolition man Boris and where are his 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 that were defending this scam?

Where are the trolls defending the Minex sister company Republia scam? No bounty participants received their bounty on 15th April 2019 even though they were promised.

Shame on the scammers.

[vlom]

hi
i was away again. minexcoin is still there. but i hope that it is obvious for all that this is a scam.

what should be posted in the OP? what is still missing there?