'Bitcointalk forum is going downhill because of dkbit98' - CoinPayCard.net SCAM

[Anubis123]

Yooo That's crazy

We been thinking they still legit from a very short time

cuz the problem was really common and I've had to contact them via chat every time this happened and they instantly fixed it (When I had deposited a lot more than I did that time)

that's why I am seeing this very weird

I'm still curious to know what happened fr

Also I've done a simple search, idk if it's related or not - just some BS

All card used to have this billing address:

"256 Chapman Road"

https://i.ibb.co/wrbS2vd/Capture.png

By googling the address, I found this website https://www.usepayday.com/

Its an mobile application which allows to create virtual cards and they location is same as CoinPayCard's billing address

https://i.ibb.co/z5FNTmD/2.png

https://i.ibb.co/XDCKSRx/3.png

Could they be using this to generate cards? If so what could be the reason they failed to get this going (if it wasn't all about running off)

Edit: I found this shit too 
https://bitcointalk.org/index.php?topic=5433643.msg61569409#msg61569409

I also do not approve of the forum PM-only support I've been getting. Let's wait and see what happens and if they somehow take everyone's card funds away I'm opening a type 3 flag against them.

I will make a small update here.
they (or he, because I think one person is behind everything) are still active on their service, but apparently, they decide not to respond to complaints. until now he only gave responses here on the forum through PM, but even that stopped.
I tried to contact him through live chat on the website, asking a banal question, and pretending to be a future customer and I got a reply in a normal time period, around 3 min.
it seems that it is still accepting new users while ignoring the existing ones and keeping their money. I would say an obvious exit scam.

https://i.ibb.co/QQXndgv/image.png

even if there is a bug, they should inform all existing users and temporarily stop the registration of new ones, because their system does not work.
I'm not sure I can say sorry for someone's loss here, especially not for the more experienced members.

[1714269669]

1714269669

[dkbit98]

Its an mobile application which allows to create virtual cards and they location is same as CoinPayCard's billing address

I tried clicking on links posted to download this PayDay app but it doesn't work for me, and I can't finds this aps anywhere.
On their twitter account Payday is saying they are Virtual Mastercards and Visa cards for Africans, specific country is Nigeria.
If address is same as for CoinPayCard than there must be some connection.

Could they be using this to generate cards? If so what could be the reason they failed to get this going (if it wasn't all about running off)

I don't understand what you are trying to say.
They are obviously gone from forum, telegram and ''cards'' currently don't work like they should.

For creating Scam accusation and flag against them you need to create your own topic with proof/images how much money you lost, and conversation with support.

[shasan]

I've seen this behaviour before, and it's typically the ones without good intentions that don't like logical questions.

You are right and for them, it came true. They left the forum on February 22, 2023, 09:30:46 PM and one person already claimed about the scam happened by CoinPayCard.net According to that person CoinPayCard.net scammed 800$ which can be seen here. They proved them as scammer.

[Adbitco]

You are a reputable member whenever you noticed a suspicious activity your tag is already okay for them after which you can set such user or topic on the ignore list and let them be. Even their english are poorly written and I hardly comprehend their writeup, also know one thing too well that only those who don't mean will to this forum (intention to scam) that would definitely panic this way.

[digaran]

How much in total did they scam people?
And please, any DT member seeing a self moderated thread for a service, please tag them as not scammer, but untrustworthy behavior, it could help to prevent a lot of scams. Please.

[yahoo62278]

How much in total did they scam people?
And please, any DT member seeing a self moderated thread for a service, please tag them as not scammer, but untrustworthy behavior, it could help to prevent a lot of scams. Please.

Not all self moderated service threads are a scam company, so instantly tagging them is not the solution. Maybe a disclaimer like what we see when a flag is created would be a way to go? dkbit was pretty vigilant with these guys though and called them out right away. Still didn't stop everyone from making a deposit to their service though.

[shasan]

How much in total did they scam people?
And please, any DT member seeing a self moderated thread for a service, please tag them as not scammer, but untrustworthy behavior, it could help to prevent a lot of scams. Please.

I don't think we will be able to know the exact amount and an exact number of people as all the users are not from bitcointalk and all the scammed people will not report on this forum. So the total number of scammed people as well as scammed amount will remain suspect.

[NotATether]

How much in total did they scam people?
And please, any DT member seeing a self moderated thread for a service, please tag them as not scammer, but untrustworthy behavior, it could help to prevent a lot of scams. Please.

Not all self moderated service threads are a scam company, so instantly tagging them is not the solution. Maybe a disclaimer like what we see when a flag is created would be a way to go? dkbit was pretty vigilant with these guys though and called them out right away. Still didn't stop everyone from making a deposit to their service though.

I made a flag here: https://bitcointalk.org/index.php?topic=5441369.0

In the unlikely event that they return and compensate me, I will remove it.

[dkbit98]

Not all self moderated service threads are a scam company, so instantly tagging them is not the solution. Maybe a disclaimer like what we see when a flag is created would be a way to go? dkbit was pretty vigilant with these guys though and called them out right away. Still didn't stop everyone from making a deposit to their service though.

Yeah sadly, some people think they know better, and they like to learn after getting burned themselves
After years of researching how scammers operate, I can now ''smell'' scammers after having just a few conversations with them.
I can make mistakes sometimes like everyone, but I had high confidence about CoinPayCard scam, that is why I refused to get free card they offered me in January.
Since they are now confirmed scam, I can now reveal PM they sent me:

I don't think we will be able to know the exact amount and an exact number of people as all the users are not from bitcointalk and all the scammed people will not report on this forum. So the total number of scammed people as well as scammed amount will remain suspect.

Minimum three members from this forum alone, but I am sure there are more people scammed by this Nigerian scammer.

[LoyceV]

After years of researching how scammers operate, I can now ''smell'' scammers after having just a few conversations with them.

I've seen the same pattern several times indeed, and I don't get why. It's as if they get angry when someone calls them out, and then show all the tell tale signs instead of providing peace of mind for potential customers.

[Anubis123]

You're Right I've been just tryna find out what they use as 'banking api' I guess that one was it

The point is, Is it that easy for a company to legally release no-KYC credit/debit cards that They can just do it and run off with a few hundreds or a few thosands. I mean, that would be worth a lot more if they are doing it legally or really cooperating with some real bank or card issuer

Edit:

While looking around in the forum, I found that CoinPayCard's Local Time Zone is UTC+1 which would make sense if they were in Africa/Nigeria

That kinda proves my guess I think, as that mobile application is apparently for Nigerians.

Its an mobile application which allows to create virtual cards and they location is same as CoinPayCard's billing address

I tried clicking on links posted to download this PayDay app but it doesn't work for me, and I can't finds this aps anywhere.
On their twitter account Payday is saying they are Virtual Mastercards and Visa cards for Africans, specific country is Nigeria.
If address is same as for CoinPayCard than there must be some connection.

Could they be using this to generate cards? If so what could be the reason they failed to get this going (if it wasn't all about running off)

I don't understand what you are trying to say.
They are obviously gone from forum, telegram and ''cards'' currently don't work like they should.

For creating Scam accusation and flag against them you need to create your own topic with proof/images how much money you lost, and conversation with support.

[LoyceV]

While looking around in the forum, I found that CoinPayCard's Local Time Zone is UTC+1 which would make sense if they were in Africa/Nigeria

That doesn't prove anything, you can change your forum's time zone to anything you want. And the same time is used in large parts of Europe too.

[DaveF]

@NotATether would you mind (and anyone else who got a card from them too) giving out the 1st 6 digits of the card.

Although *far* from definitive as to where they are, having the BIN / IIN will at least let us know what bank they were using to issue the cards. Might give a bit on insight as to where they were operating from. Not to mention a call to the bank security office might at least slow them down on the next scam. Probably not, but it can't hurt.

Side thought, makes you wonder if there is a good profit center in doing this:

Setup a business. Get a credit card from a company that allows unlimited employee cards that you can set limits on. Charge people for the card (profit), give a crappy exchange rate for the BTC -> fiat load (more profit), then set the limit of the card to that. And take the rewards / cashback that the card offers (even more profit).
Obviously all the KYC would go back the the business, but does that really matter?

-Dave

[Anubis123]

Ik It's not the actual proof, As I mentioned earlier they have the same address of that mobile application

For the bin, I used binchecker and It showed the bank as "Private Bank" or something like that, I'll post it when I"m home

While looking around in the forum, I found that CoinPayCard's Local Time Zone is UTC+1 which would make sense if they were in Africa/Nigeria

That doesn't prove anything, you can change your forum's time zone to anything you want. And the same time is used in large parts of Europe too.

[dkbit98]

Ik It's not the actual proof, As I mentioned earlier they have the same address of that mobile application

Address they used is the same like on that shady Payday website from Nigeria, 256 Chapman Road, but posting first few digits could be helpful for finding more information about this scammer.
I am expecting from all other affected members to post this, so we can collect all information that could be useful for finding this scammer.

Setup a business. Get a credit card from a company that allows unlimited employee cards that you can set limits on. Charge people for the card (profit), give a crappy exchange rate for the BTC -> fiat load (more profit), then set the limit of the card to that. And take the rewards / cashback that the card offers (even more profit).
Obviously all the KYC would go back the the business, but does that really matter?

It could work in theory, and I think some of the alternative cards are doing something similar.
Potential issue could arrise if banks notice something suspicious with transactions and block or ban accounts.
Fresh news from Mastercard and Visa - they are freezing all activities related with blockchain and crypto partnership until new regulation is better clarified:
https://cointelegraph.com/news/visa-and-mastercard-halt-new-crypto-partnerships-report

[NotATether]

My card also has the 256 Chapman address.

Fresh news from Mastercard and Visa - they are freezing all activities related with blockchain and crypto partnership until new regulation is better clarified:
https://cointelegraph.com/news/visa-and-mastercard-halt-new-crypto-partnerships-report

Clearly has nothing to do with CoinpayCard in particular, but it looks like they are waiting for some nonexistent crypto bill from Congress that will likely take the whole year to propose and agree on.

Time to stock up on prepaid cards? 

[DaveF]

Time to stock up on prepaid cards? 

Prepaid cards do not and will disappear. What they should do is to do more control of the companies that buy them in large quantities and how they are then made available.

Now, if the company knows how to set up the business well, it will be able to continue to make these cards available without major problems. As I commented in the other post, Visa/Mastercard only know the intermediary of these cards, it all depends on how the intermediary does his job.

My concern with the prepaid is that they will drop the max amounts down to such a low amount as to make them more difficult to use then they are worth.
Do you want to have to use 3 x $50 cards a month to pay your cable bill?

OTOH, for prepaid you still have the 2 step process for some places. i.e. Walmat Gift card and then go to Walmart and use the gift card to purchase a prepaid Visa. Just a lot more time & effort.

-Dave

[dkbit98]

I received partial card numbers in personal message from guy that was scammed by CoinPayCard and I did basic search to find more information about Bank and issuer.
Here is short initial summary I was able to found so far:

Issuer/Bank exact name is: Private Bank & Trust Co
This is actual company with address: 920 S Waukegan Rd Ste 100, Lake Forest, IL 60045
Phone number registered to Alan H Kohn: (847) 482-8100
Official websites theprivatebank.com and privatebankandtrust.com are down for me.

This is their page on Bloomberg website that confirms they are operating as bank:
https://www.bloomberg.com/profile/company/0799354D:US#xj4y7vzkg?leadSource=uverify%20wall

Stay tuned, I am digging to find more information and connections.
You are free to add anything you find yourself.


EDIT:
CoinPayCard account was online in forum on March 1st, so he is well aware of everything:


https://bitcointalk.org/index.php?action=profile;u=3521103

[LoyceV]

Fresh news from Mastercard and Visa - they are freezing all activities related with blockchain and crypto partnership until new regulation is better clarified:
https://cointelegraph.com/news/visa-and-mastercard-halt-new-crypto-partnerships-report

A day later, this was posted:

Bitrefill now has Prepaid Mastercard gift cards for the US.

https://www.bitrefill.com/buy/prepaid-mastercard-usa/?hl=en

Do you want to have to use 3 x $50 cards a month to pay your cable bill?

How expensive is your cable bill? I pay less than $40 for fiber.

[DaveF]

Do you want to have to use 3 x $50 cards a month to pay your cable bill?

How expensive is your cable bill? I pay less than $40 for fiber.

Around $115. Internet + base TV + phone.

They found the pain point of cutting the cord or switching to FiOS and are just below that. I could go to just internet and get some more streaming and loose the phone but it's not going to save enough to make me want to go through the time and effort involved.

Back to this, it sucks that people got scammed and lost money. But the NEXT time, because we all know there will be a next time, it's another thing that we can point to and say look it's a scam. Here are all the other scams that looked exactly the same way.

TANSTAAFL

There
Aint
No
Such
Thing
As
A
Free
Lunch

The more we point out that things like this can be legit, but they have to really prove themselves, explain how it works and why it works the better we all are.
There are some places in the world that don't give a rats ass about KYC and everything else. But, there still are steps you have to go though and things you have to deal with.

Cards like what was offered really do fall into the 'magical internet money' category.

-Dave