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Author Topic: SCAM: MinexPay crypto debit card by minexpay.com / Minexcoin  (Read 20851 times)
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May 05, 2019, 11:52:57 AM
 #661

I suppose the major disaster for any investor that got involved in this trainwreck, must be the 'parking' of any significant amount in Minexbank.

This is something I had considered initially myself but never put into action, thankfully being appalled by their constant failures to run a simple card program.

Imagine the horror of someone putting a couple of grand for 'parking' and watching his invested capital being reduced to dog shit.

In this case, the dog shit are significantly more valuable compared to this Minexcoin.
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May 05, 2019, 12:18:22 PM
 #662

I suppose the major disaster for any investor that got involved in this trainwreck, must be the 'parking' of any significant amount in Minexbank.

This is something I had considered initially myself but never put into action, thankfully being appalled by their constant failures to run a simple card program.

Imagine the horror of someone putting a couple of grand for 'parking' and watching his invested capital being reduced to dog shit.

In this case, the dog shit are significantly more valuable compared to this Minexcoin.



Sadly people fell for the scam. Many believed the 145% interest rates were true and did not realise Minex was set up as milking cow for Boris to siphon-off funds for himself so he could lead a jet-setting millionaire lifestyle

SCAMS|| ADAB SOLUTIONS || BETKING BITSAFE & DEAN NOLAN || BITINGLE || CHANGELLY CHANGENOW & ATOMIC SWAP || COINSBIT || FURTCOIN || FLYP.ME || HITBTC || HOLY TRANSACTION || HUMANCOIN || HUMANITYONE || MINEXCOIN || MOBILEGO ||
|| P2PB2B || REPUBLIA || ROCK TRADING || SOVRANOCOIN || TOKENPAY || TRADESATOSHI || ULORD || VIBEO || 520bit/vitalii_invest/RoyalTeam ||
|| READ MY FULL SCAM LIST
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May 05, 2019, 05:08:42 PM
 #663

I suppose the major disaster for any investor that got involved in this trainwreck, must be the 'parking' of any significant amount in Minexbank.

This is something I had considered initially myself but never put into action, thankfully being appalled by their constant failures to run a simple card program.

Imagine the horror of someone putting a couple of grand for 'parking' and watching his invested capital being reduced to dog shit.

In this case, the dog shit are significantly more valuable compared to this Minexcoin.



All that failures with payment cards were just a sideshow. As you noticed good with parking program ,it was a nice bait for investors. They gave 70% + yearly interest rate combined with false promises in the whitelist about how they will keep price in the tight range of +-5% and how Minexbank will intervene in the market in the case of excessive supply. Investors took the bait,forgetting that such high interest rate means pre-built hyperinflation in the system which will obliterate theirs investments almost to 0. During all that time Minexbank didnt intervene one single time on the market.While Minexsystems CEO Boris Shulayev promoted his parking program with high interest rates,he was mercilessly selling premined coins worth 100s of BTCs on the exchanges,dumping as much as he can, destroying markets and making fools from investors again.


Now we know how Minexsystems ICO was a scam from the beginning.Money collected from investors ,Minexsystems CEO Boris Shulayev immediately put in his private project making AR and VR video games, never mentioned to investors before and from which investors has no any gain.Later Boris admitted how Minexsystems expenses exceeded  $260.000 per month.With the number of employees, expenses could not have reach more than $50-60000 per month(and mostly used for making video game,not things he promised to investors in the Whitelist),so about 20% of investors money he invested in making his video game and 80% went to his pockets.

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May 06, 2019, 01:29:59 PM
 #664

Thunderjet, your analysis describes in the most defined way the tactics of the demolition man, as JollyGood refers to Boris.

After the examination of the Minexbank parking rates and the insanity hiding behind the numbers,

anyone can clearly see the similarities bearing with any HYIP program out there, confirming its fraudulent nature.
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May 06, 2019, 02:11:38 PM
Last edit: May 22, 2019, 06:39:30 PM by JollyGood
 #665

All that failures with payment cards were just a sideshow. As you noticed good with parking program ,it was a nice bait for investors. They gave 70% + yearly interest rate combined with false promises in the whitelist about how they will keep price in the tight range of +-5% and how Minexbank will intervene in the market in the case of excessive supply. Investors took the bait,forgetting that such high interest rate means pre-built hyperinflation in the system which will obliterate theirs investments almost to 0. During all that time Minexbank didnt intervene one single time on the market.While Minexsystems CEO Boris Shulayev promoted his parking program with high interest rates,he was mercilessly selling premined coins worth 100s of BTCs on the exchanges,dumping as much as he can, destroying markets and making fools from investors again.


Now we know how Minexsystems ICO was a scam from the beginning.Money collected from investors ,Minexsystems CEO Boris Shulayev immediately put in his private project making AR and VR video games, never mentioned to investors before and from which investors has no any gain.Later Boris admitted how Minexsystems expenses exceeded  $260.000 per month.With the number of employees, expenses could not have reach more than $50-60000 per month(and mostly used for making video game,not things he promised to investors in the Whitelist),so about 20% of investors money he invested in making his video game and 80% went to his pockets.

If it were not for your excellent research we would nopt have known about the AI/VR side-show that Boris was concentrating on and we would not have been aware of so many things related to Boris, Minex, Republia and their 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.

Thank you thunderjet for all your efforts in helping to expose Boris and his Minexcoin/Minexpay/Minexsystem scam along with the Republia/Paxchain scam.

SCAMS|| ADAB SOLUTIONS || BETKING BITSAFE & DEAN NOLAN || BITINGLE || CHANGELLY CHANGENOW & ATOMIC SWAP || COINSBIT || FURTCOIN || FLYP.ME || HITBTC || HOLY TRANSACTION || HUMANCOIN || HUMANITYONE || MINEXCOIN || MOBILEGO ||
|| P2PB2B || REPUBLIA || ROCK TRADING || SOVRANOCOIN || TOKENPAY || TRADESATOSHI || ULORD || VIBEO || 520bit/vitalii_invest/RoyalTeam ||
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May 06, 2019, 05:10:46 PM
 #666

Indeed as you mentioned Paxchain, this hilarious rebranding of Republia, trying to ape the name of the South Korean company Paxnet, while in reality it is just a desperate Minexsystems abortion.
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May 06, 2019, 07:17:38 PM
 #667

Indeed as you mentioned Paxchain, this hilarious rebranding of Republia, trying to ape the name of the South Korean company Paxnet, while in reality it is just a desperate Minexsystems abortion.

The scammers at Republia are passing it off as a "merger" between two companies by saying Paxnet has merged with Republia to create "Paxchain".

In reality, it is impossible for a multi-million US$ company such as Paxnet to "merge" with a two-bit start-up such as Republia with zero assets.

Pathetic

SCAMS|| ADAB SOLUTIONS || BETKING BITSAFE & DEAN NOLAN || BITINGLE || CHANGELLY CHANGENOW & ATOMIC SWAP || COINSBIT || FURTCOIN || FLYP.ME || HITBTC || HOLY TRANSACTION || HUMANCOIN || HUMANITYONE || MINEXCOIN || MOBILEGO ||
|| P2PB2B || REPUBLIA || ROCK TRADING || SOVRANOCOIN || TOKENPAY || TRADESATOSHI || ULORD || VIBEO || 520bit/vitalii_invest/RoyalTeam ||
|| READ MY FULL SCAM LIST
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May 07, 2019, 11:11:33 PM
 #668

Thunderjet, your analysis describes in the most defined way the tactics of the demolition man, as JollyGood refers to Boris.

After the examination of the Minexbank parking rates and the insanity hiding behind the numbers,

anyone can clearly see the similarities bearing with any HYIP program out there, confirming its fraudulent nature.


You are right. Minexsystems has numerous marks of HYIP scheme (huge interest rate, multiple false promises, owner unlimited greed which leads to collapse) , with one twist - part of collected money from investors,owner wanted to use for his own projects which should help him to make enough money to leave permanently construction business ,he obviously does not like so much.
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May 09, 2019, 07:18:55 PM
 #669

Indeed as you mentioned Paxchain, this hilarious rebranding of Republia, trying to ape the name of the South Korean company Paxnet, while in reality it is just a desperate Minexsystems abortion.

The scammers at Republia are passing it off as a "merger" between two companies by saying Paxnet has merged with Republia to create "Paxchain".

In reality, it is impossible for a multi-million US$ company such as Paxnet to "merge" with a two-bit start-up such as Republia with zero assets.

Pathetic




Minexcoin Telegram group fell apart after huge confilct with administrators and massive banning of 85 members on 5th.May. It has been frozen for 3 days,without any activities-messages:












Cutting all communications with community and presenting total lack of will to do active discussions with its supporters,Minexcoin put the last nail in its coffin.


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May 10, 2019, 01:42:03 PM
 #670

These graphs clearly display another notable sign of Minex inevitable decline.

Judging from my brief interaction with their telegram 'staff', the place there is a total Zoo.

The struggling performance of their price between 0.13-0.11 since the beginning of the month, gives you the picture of some trading bots somewhere beating a dead horse of a coin.

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May 10, 2019, 04:03:52 PM
 #671

Here is a list of my posts the scammers have deleted from their censored Minex thread:

This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (165 posts by 29 users with 2 merit deleted.)





Quote
I don't know why MNX has decreased too bad recent months. I was a translator for Minex project before they launch their ICO programme and I was very impressed with their whitepaper because they said that they have the @minexbank which can maintain the price of its ecosystem. So now? maybe that Bank was destroyed or shut down, lol. Anyway, I'm still hold Minexcoin because I believe they can revive their project  Cry. Futhermore, I've ordered the Minex Card but it never came.


If you read through the pages you will understand why you never recieved your card and why you never will receive it..

As for you holding your MNX because you believe they will revive their scam then you are deluded.



Quote
Oh my God. Price now 0.16$ Shocked Something went wrong.
I mined this coin in 2017 and sold for $20.
i got from bounty and sold for 30$ on december 2017
and i'm very sad when this coin is only 0.1$

Congratulations on making some money off the bounty.

Thankfully this scam coin is almost dead now, unfortunately the investors that lost money will not get anything back but hopefully enough negative publicity has made it impossible for its sister scam company Republia/Paxchain to never succeed in scamming others.

Hopefully the next time demolition man Boris goes to Court over tax evasion charges he will be sentenced to jail time, that will be some sort of justice too little too late but still a small justice.






Quote
So the card they sent out during the phase one is not working anymore? Any idea if they are in contact with any bank for the cards?


The cards were sent out illegally in breach of Mastercard rules. In order for Minex to send those cards out they lied to Upaycard saying they owned an Estonian based company and the cards were for their employees.

Both Upaycard and Mastercard blocked the cards because they were not applied for via the Mastercard official program and that was because Boris/Minex did not pass the required Mastercard or VISA criteria.

Minex scam thread: https://bitcointalk.org/index.php?topic=5046331.0






Quote
Where is disappear official Minexcoin.org account from here? His last post is from 11.April although it is still active here.
Do they have nothing to say or we just attend to the exit strategy?


The account you mentioned just pops in and out of this thread to delete posts that are honest yet critical of the Minex scammers.

They have not made an informative post for a very long time.






Quote
Answer my question: Who else is paying the kind of interest Minex is paying for "parking" the coins while keeping them in your wallet?


Scams.


Well I suppose a single word answer does suffice here  Shocked

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May 14, 2019, 11:49:54 AM
 #672

The official Minexcoin user account here has tried to copy my footer signature    Grin Grin Grin

SCAMS|| ADAB SOLUTIONS || BETKING BITSAFE & DEAN NOLAN || BITINGLE || CHANGELLY CHANGENOW & ATOMIC SWAP || COINSBIT || FURTCOIN || FLYP.ME || HITBTC || HOLY TRANSACTION || HUMANCOIN || HUMANITYONE || MINEXCOIN || MOBILEGO ||
|| P2PB2B || REPUBLIA || ROCK TRADING || SOVRANOCOIN || TOKENPAY || TRADESATOSHI || ULORD || VIBEO || 520bit/vitalii_invest/RoyalTeam ||
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May 14, 2019, 09:24:32 PM
Last edit: May 17, 2019, 06:21:26 PM by thunderjet
 #673

The official Minexcoin user account here has tried to copy my footer signature    Grin Grin Grin

Maybe it is theirs first step to try impersonate you Cheesy Cheesy Cheesy


In the meantime they post summary of Boris posts in AMA sessions,filled with bunch of lies, shrouded in putting blame on others for theirs own faults.As usual,it is always someone else fault.

https://medium.com/@minecoinorg/summary-of-the-latest-ama-sessions-with-the-ceo-da54fb019060


They are blaming "flawed" part of crypto community and its wish for " easy lucrative returns" to MNX coin price extreme decline.At the same time they are rejecting that they have been manipulated with the price of coin.

Of course,this is hilarious. On the contrary,Boris wish(greed) for easy lucrative returns through massive selling millions of premined MNX coins on exchanges destroyed MNX market completely.Such price reduction of 99.85%( to dust) from ATH is unseen in crypto world.So,maybe he is right that it is not price manipulation - it was price complete destruction.To the ground.  









Finally,after months,they admitted that UPAY suspended UAB KRISTOLINIS DUGNAS cards indefinetely. But as usual ,blame is not on theirs side but to the customers who were questioning legality of payment card program and sent questions to UPAY.This is defying any logic,because no one will suspend program due to customer questions,but only if they found significant contract breach as it was in this case when Minexpay illegaly used lithuanian company to cover true beneficial owner of cards and sending cards to non-EEA countries,despite UPAY does not allow it ,because it has license just for EEA zone.

Their contract with Stylopay for issuing chinese Union Pay card is very suspicious. Stylopay is claiming it is payment processor with offices in UK,US and India. I was searching UK FCA and US Fincen register and didnt find that Stylopay has UK or US license for conducting transactions - to be payment processor.They are probably using some registred payment processor to conduct payment processing for third parties through using its own account,which is illegal( scammer claims from Novarise Secrecy were very similar) .So,any Minexpay claims how they put clear in the contract that program is crypto related is useless,because Stylopay has not UK or US license to conduct financial operations.

One thing that puts even more suspicion on whole thing is that these cards will not be branded cards.Again, the same story as previously seen in CSOB and Novarise Secrecy, UPAY and UAB KRISTOLINIS DUGNAS. So,Minexpay will cover true payment card owner again and will try to conduct business hiding behind third party company. Chinese Union Pay and Mastercard/Visa  regulations are something different,but Union pay is not allowing hiding true beneficialy owner of card program and conducting transactions for third parties.

Now,there are no more doubt, this payment card program will be cancelled too as previous ones due to same reason - trying to use third party cards for its own business. It clearly shows Minexpay and Boris total inabilty to do things on right way,through following regulations and laws.













At the end something very hilarious - Minexsystems claim how they aquired bank on Comoros Islands.  Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy

Maybe they have bank account in some bank on Comoros,but buying bank.....

One thing is particulary interesting about that bank on Comoros they used. US banks refused to do USD transactions with that bank. Something they do only if it is on some US blacklist for money laundering or similar. Again, Boris tried to conduct business with some shady companies. Cheesy Cheesy Cheesy



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May 15, 2019, 12:44:09 AM
 #674

@thunderjet - Thank you for another excellent post

Demolition man Boris is a complete and utter joke. His failures show him to be an incompetent fool. When he said Minexcoin failure is because of investors seeking quick profits he is way off the mark.

There is no deal with any VISA or Mastercard authorised program manager and there never will be. Minex is a dried-up project with no money and no positive media.



SCAMS|| ADAB SOLUTIONS || BETKING BITSAFE & DEAN NOLAN || BITINGLE || CHANGELLY CHANGENOW & ATOMIC SWAP || COINSBIT || FURTCOIN || FLYP.ME || HITBTC || HOLY TRANSACTION || HUMANCOIN || HUMANITYONE || MINEXCOIN || MOBILEGO ||
|| P2PB2B || REPUBLIA || ROCK TRADING || SOVRANOCOIN || TOKENPAY || TRADESATOSHI || ULORD || VIBEO || 520bit/vitalii_invest/RoyalTeam ||
|| READ MY FULL SCAM LIST
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May 15, 2019, 11:33:16 AM
 #675

@thunderjet - Thank you for another excellent post

Demolition man Boris is a complete and utter joke. His failures show him to be an incompetent fool. When he said Minexcoin failure is because of investors seeking quick profits he is way off the mark.

There is no deal with any VISA or Mastercard authorised program manager and there never will be. Minex is a dried-up project with no money and no positive media.




Now they plan to use Stylopay service, China Union pay cards.

Here is one new video https://www.youtube.com/watch?v=mtsEe3cju2o&feature=youtu.be This guy trying to explain something "What is Happening with the Project"
I just watch a few minutes, only some justification.

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May 15, 2019, 02:15:20 PM
 #676

@thunderjet - Thank you for another excellent post

Demolition man Boris is a complete and utter joke. His failures show him to be an incompetent fool. When he said Minexcoin failure is because of investors seeking quick profits he is way off the mark.

There is no deal with any VISA or Mastercard authorised program manager and there never will be. Minex is a dried-up project with no money and no positive media.




Now they plan to use Stylopay service, China Union pay cards.

Here is one new video https://www.youtube.com/watch?v=mtsEe3cju2o&feature=youtu.be This guy trying to explain something "What is Happening with the Project"
I just watch a few minutes, only some justification.

Crypto Rich ( or Poor now after MNX fell -99,8%) is the main shill for minex. Feel free to hit that dislike button.

Looks like Stylopay is their only option since chinese give zero fucks about western laws and regulations  Grin

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May 15, 2019, 02:29:52 PM
 #677

Now they plan to use Stylopay service, China Union pay cards.

Here is one new video https://www.youtube.com/watch?v=mtsEe3cju2o&feature=youtu.be This guy trying to explain something "What is Happening with the Project"
I just watch a few minutes, only some justification.


Is there anybody that believes anything at all that comes from the Minex team, the Republia Paxchain team or their representatives?

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 other key members have all but vanished. Some of them left the English language Minex threads and concentrated on the Russian language one before completely vanishing.

Minexcoin/Minexpay/Minexsystem is a dying project that is being barely kept alive by demolition man Boris while he tries to plan another excuse to pull in and scam more investors.

SCAMS|| ADAB SOLUTIONS || BETKING BITSAFE & DEAN NOLAN || BITINGLE || CHANGELLY CHANGENOW & ATOMIC SWAP || COINSBIT || FURTCOIN || FLYP.ME || HITBTC || HOLY TRANSACTION || HUMANCOIN || HUMANITYONE || MINEXCOIN || MOBILEGO ||
|| P2PB2B || REPUBLIA || ROCK TRADING || SOVRANOCOIN || TOKENPAY || TRADESATOSHI || ULORD || VIBEO || 520bit/vitalii_invest/RoyalTeam ||
|| READ MY FULL SCAM LIST
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May 15, 2019, 06:29:36 PM
 #678

@thunderjet - Thank you for another excellent post

Demolition man Boris is a complete and utter joke. His failures show him to be an incompetent fool. When he said Minexcoin failure is because of investors seeking quick profits he is way off the mark.

There is no deal with any VISA or Mastercard authorised program manager and there never will be. Minex is a dried-up project with no money and no positive media.




Now they plan to use Stylopay service, China Union pay cards.

Here is one new video https://www.youtube.com/watch?v=mtsEe3cju2o&feature=youtu.be This guy trying to explain something "What is Happening with the Project"
I just watch a few minutes, only some justification.


Problem is that,by theirs own admission, these cards will not be branded - again,so Minexpay will use some other company as a cover for its activities ,like it used lithuanian company UAB KRISTOLINIS DUGNAS for UPAY services. Chinese do not allow that as well ,so it will fail again at the same point as before.

Second problem is that Stylopay,despite it says how they have offices in UK and US are not registred as a payment processor in UK or US. They are not in FCA and Fincen register at all. Most likely ,Stylopay has account at some registred payment processor(s) and conducting transactions for third parties via its own account - that was exactly doing the scammer from Novarise Secrecy with whom Boris has a contract for payment cards issuing in October.That is not allowed either in UK or US.

What is really dissapointing is that Boris proved utterly unable to do work on legal way,following neccessary regulations and laws.Three times he turned to some shady,scammy guys for help in getting payment cards on easy way, instead to do things right.
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May 16, 2019, 02:38:46 PM
 #679

@thunderjet - Thank you for another excellent post

Demolition man Boris is a complete and utter joke. His failures show him to be an incompetent fool. When he said Minexcoin failure is because of investors seeking quick profits he is way off the mark.

There is no deal with any VISA or Mastercard authorised program manager and there never will be. Minex is a dried-up project with no money and no positive media.




Now they plan to use Stylopay service, China Union pay cards.

Here is one new video https://www.youtube.com/watch?v=mtsEe3cju2o&feature=youtu.be This guy trying to explain something "What is Happening with the Project"
I just watch a few minutes, only some justification.


Problem is that,by theirs own admission, these cards will not be branded - again,so Minexpay will use some other company as a cover for its activities ,like it used lithuanian company UAB KRISTOLINIS DUGNAS for UPAY services. Chinese do not allow that as well ,so it will fail again at the same point as before.

Second problem is that Stylopay,despite it says how they have offices in UK and US are not registred as a payment processor in UK or US. They are not in FCA and Fincen register at all. Most likely ,Stylopay has account at some registred payment processor(s) and conducting transactions for third parties via its own account - that was exactly doing the scammer from Novarise Secrecy with whom Boris has a contract for payment cards issuing in October.That is not allowed either in UK or US.

What is really dissapointing is that Boris proved utterly unable to do work on legal way,following neccessary regulations and laws.Three times he turned to some shady,scammy guys for help in getting payment cards on easy way, instead to do things right.


Judging by Boris background in Construction business then its no wonder he tries to find shady deals as construction business is filled with shady contractors like Boris. They dont know how to do things right, they only know illegal ways to swindle money from customers and rip off sub-contractors. Hence the attitude towards this project.

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May 16, 2019, 06:50:22 PM
Last edit: May 17, 2019, 06:07:43 PM by thunderjet
Merited by vlom (5)
 #680

@thunderjet - Thank you for another excellent post

Demolition man Boris is a complete and utter joke. His failures show him to be an incompetent fool. When he said Minexcoin failure is because of investors seeking quick profits he is way off the mark.

There is no deal with any VISA or Mastercard authorised program manager and there never will be. Minex is a dried-up project with no money and no positive media.




Now they plan to use Stylopay service, China Union pay cards.

Here is one new video https://www.youtube.com/watch?v=mtsEe3cju2o&feature=youtu.be This guy trying to explain something "What is Happening with the Project"
I just watch a few minutes, only some justification.


Problem is that,by theirs own admission, these cards will not be branded - again,so Minexpay will use some other company as a cover for its activities ,like it used lithuanian company UAB KRISTOLINIS DUGNAS for UPAY services. Chinese do not allow that as well ,so it will fail again at the same point as before.

Second problem is that Stylopay,despite it says how they have offices in UK and US are not registred as a payment processor in UK or US. They are not in FCA and Fincen register at all. Most likely ,Stylopay has account at some registred payment processor(s) and conducting transactions for third parties via its own account - that was exactly doing the scammer from Novarise Secrecy with whom Boris has a contract for payment cards issuing in October.That is not allowed either in UK or US.

What is really dissapointing is that Boris proved utterly unable to do work on legal way,following neccessary regulations and laws.Three times he turned to some shady,scammy guys for help in getting payment cards on easy way, instead to do things right.


Judging by Boris background in Construction business then its no wonder he tries to find shady deals as construction business is filled with shady contractors like Boris. They dont know how to do things right, they only know illegal ways to swindle money from customers and rip off sub-contractors. Hence the attitude towards this project.


Exactly. That is why I became suspicious after he hired scammer from Novarise Secrecy to obtain him payment cards,because it was so obvious that it was so scammy option.Then I thought that such Boris behaviour could have some deeper background and began to research data about how he was conducting in his construction business,finding that such actions are so common for him.


Boris told how Minexsystems expenses were more than $260K per month.Now he claims that minimum expenses for continue to run Minexsystems will be about $800.000 per year or $66.666 per month. Neither is truth.

Boris had 20-25 employees with monthly salaries between $1000-2500,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 or more per month is not made by some real expenses,but it was classic money drain,covered as salaries for Boris and his friends/family.

Now he has 12 employees,4 of them developpers.He is paying developpers about $2500 per month,so for 4 developpers monthly expense is $10.000.For 8 other staff/support members salaries is quite lower,no more than $1000 per month,so for 8 staff/support employees ,monthly expense is $8000 which is total $18000 per month for employees. Other expenses(rent,marketing...) for such small ICO cant be more than $7-12000 per month,so montly expense cant be more than $25-30.000,which is about half of Boris is claiming.

I recently read story from Spectre CEO, ICO which is about 10x bigger than Minexsystems.Theirs expenses were about $100.000 per month.They are 10x or more bigger than Minexsystems,work in US/Canada where salaries are many times bigger than in Ukraine and yet has monthly expenses 2.5x lower than Boris...





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