MajesticBank Shuts Down Service

[Trêvoid]

Sad to see a XMR supported anonymous exchange service MajesticBank shutting down. Their dedication to the Monero community and mission has been appreciated.
Wishing all the best to everyone involved.

Effective of this moment MajesticBank is shutting down its services.

Thank you Monero project, Monero community and real Monero people for everything so far.

MajesticBank was not created to make profit but to complete mission, a Monero mission.

As as I feel mission is almost completed, thus every good thing has an end.

Thank you all so much.

Refunds:

There are some pending orders (sorry about that) which will be refunded with premiums ranging from 100-500 USD based on value.

Channels to go trough are either Telegram @MajesticBank or email info@majesticbank.so

Refund period is 30 days.

Thank you all for patience.

As soon as service is disintegrated, farewell donations will follow.

As Phoenix

(https://github.com/monero-project/monero-site/issues/2496)

[tabas]

I haven't followed the Monero community and majesticbank, but that message is heartwarming. Just by reading it, they really seem not to be for the profit but on a mission to help everyone with their privacy concerns. It's always been sad to see a service that helps a community go. Is your service has been inspired by them?

[Doan9269]

I don't why all this is going to be a thing of the past,  because it's obvious that it's a challenge that concerns anything that has to do with privacy, which our government has always been fighting and taking it serious until they see them coming down, however, am not also much concerned since they can't succeed in the pulling down of the major source to privacy which is bitcoin, after series of attacks had been made, we still move on, the more one door closed, another opens up for more opportunities in cryptocurrency.

[Trêvoid]

I haven't followed the Monero community and majesticbank, but that message is heartwarming. Just by reading it, they really seem not to be for the profit but on a mission to help everyone with their privacy concerns. It's always been sad to see a service that helps a community go. Is your service has been inspired by them?

Hi @tabas

My service was not directly inspired by MajesticBank, but he was certainly a trusted vendor and did a good job in the XMR community.

[tabas]

I haven't followed the Monero community and majesticbank, but that message is heartwarming. Just by reading it, they really seem not to be for the profit but on a mission to help everyone with their privacy concerns. It's always been sad to see a service that helps a community go. Is your service has been inspired by them?

Hi @tabas

My service was not directly inspired by MajesticBank, but he was certainly a trusted vendor and did a good job in the XMR community.

Alright, thanks for answering that. With your words, you prove how impactful Majestic Bank was in the XMR community. It's just sad that there are some actual reasons why a service like that has to shut down even if they want to stay longer, we all know the cause and reasons behind these closures.

[Despairo]

If it was for Monero mission, I don't think they would shut down their service because Monero is a privacy coins and won't care about any pressure.

Someone said it could be due to tightening regulations and government are cracked down few privacy tools, if it was the reason, it would be better if they're being honest.

Nevertheless, it's better to see a privacy oriented tool shutdown earlier than getting caught and forced to reveal information to the government.

[Trêvoid]

If it was for Monero mission, I don't think they would shut down their service because Monero is a privacy coins and won't care about any pressure.

Someone said it could be due to tightening regulations and government are cracked down few privacy tools, if it was the reason, it would be better if they're being honest.

Nevertheless, it's better to see a privacy oriented tool shutdown earlier than getting caught and forced to reveal information to the government.

I guess that all the heat from LE is related to the Samourai Wallet and Tornado Cash legal issues and arrests.

According to comment giving in his announcement

[Trêvoid]

Update:



MajesticBank's admin has not been online for the past four days. While some users were refunded on the day of the incident, many refunds are still pending, and MajesticBank silence is concerning everyone.

Because of this lack of communication and unresolved refunds issues, MajesticBank is currently being marked as a scam on kycnot.me. However, I hope the admin did not intend for this to happen and he will return soon to resolve these issues and restore trust.

[Odusko]

I don't why all this is going to be a thing of the past,  because it's obvious that it's a challenge that concerns anything that has to do with privacy, which our government has always been fighting and taking it serious until they see them coming down, however, am not also much concerned since they can't succeed in the pulling down of the major source to privacy which is bitcoin, after series of attacks had been made, we still move on, the more one door closed, another opens up for more opportunities in cryptocurrency.

For some reason I think that their mession is already completed because I believe that what their wanted to test was the effectiveness if cryptocurrency intergration of bank to cryptocurrency privacy enhancing service, I believe this shot down is going to be a temporary one and in the coming years their will make a return when the entire cryptocurrency get more attention and the need for such service arise, privacy is a right and not a privilege so for that their can never kill the privacy of the cryptocurrency community but regulations will definitely affects alot of things and the way such privacy enhancing service providers operates.

[asriloni]

Update:



MajesticBank's admin has not been online for the past four days. While some users were refunded on the day of the incident, many refunds are still pending, and MajesticBank silence is concerning everyone.

Because of this lack of communication and unresolved refunds issues, MajesticBank is currently being marked as a scam on kycnot.me. However, I hope the admin did not intend for this to happen and he will return soon to resolve these issues and restore trust.

Not my first time to see KYCnotme labelled them as a scam. It has been happening since a few years ago. When majestic has problem with their user, KYCnotme marked them as scam, then after problem solved, yet again KYCnotme change their status. Only hope they don't run away with people money this time as their exchange site is getting shutdown.

Only surprised people seem never feel tired used their poor service.

[Trêvoid]

Update:



MajesticBank's admin has not been online for the past four days. While some users were refunded on the day of the incident, many refunds are still pending, and MajesticBank silence is concerning everyone.

Because of this lack of communication and unresolved refunds issues, MajesticBank is currently being marked as a scam on kycnot.me. However, I hope the admin did not intend for this to happen and he will return soon to resolve these issues and restore trust.

Not my first time to see KYCnotme labelled them as a scam. It has been happening since a few years ago. When majestic has problem with their user, KYCnotme marked them as scam, then after problem solved, yet again KYCnotme change their status. Only hope they don't run away with people money this time as their exchange site is getting shutdown.

Only surprised people seem never feel tired used their poor service.

It seems the admin is still unreachable, and many users are still unable to recover their funds. I hope he hasn’t been caught or arrested.

[nonlogs]

Update:



MajesticBank's admin has not been online for the past four days. While some users were refunded on the day of the incident, many refunds are still pending, and MajesticBank silence is concerning everyone.

Because of this lack of communication and unresolved refunds issues, MajesticBank is currently being marked as a scam on kycnot.me. However, I hope the admin did not intend for this to happen and he will return soon to resolve these issues and restore trust.

Not my first time to see KYCnotme labelled them as a scam. It has been happening since a few years ago. When majestic has problem with their user, KYCnotme marked them as scam, then after problem solved, yet again KYCnotme change their status. Only hope they don't run away with people money this time as their exchange site is getting shutdown.

Only surprised people seem never feel tired used their poor service.

It seems the admin is still unreachable, and many users are still unable to recover their funds. I hope he hasn’t been caught or arrested.

Most probably he or she got arrested. Now I see that TradeOgre, another popular exchange for XMR, has gone down without any notice. Something could be happening a larger raid?

[Trêvoid]

Update:



MajesticBank's admin has not been online for the past four days. While some users were refunded on the day of the incident, many refunds are still pending, and MajesticBank silence is concerning everyone.

Because of this lack of communication and unresolved refunds issues, MajesticBank is currently being marked as a scam on kycnot.me. However, I hope the admin did not intend for this to happen and he will return soon to resolve these issues and restore trust.

Not my first time to see KYCnotme labelled them as a scam. It has been happening since a few years ago. When majestic has problem with their user, KYCnotme marked them as scam, then after problem solved, yet again KYCnotme change their status. Only hope they don't run away with people money this time as their exchange site is getting shutdown.

Only surprised people seem never feel tired used their poor service.

It seems the admin is still unreachable, and many users are still unable to recover their funds. I hope he hasn’t been caught or arrested.

Most probably he or she got arrested. Now I see that TradeOgre, another popular exchange for XMR, has gone down without any notice. Something could be happening a larger raid?

Crypto space is seeing increased regulatory pressure and crackdowns on privacy-focused exchanges and mixers lately.

So yes, a larger raid might be happening. The best approach is to stay calm and wait for official news.

[Trêvoid]

Update:

August 01

MajesticBank admin remains unreachable.

[Trêvoid]

Update:

August 28

Pretty shady move done by MajesticBank. Looks like he just decided to run off with everyone’s money.
His exchange was already super slow, but now it’s obvious he just scammed everyone.
Really bad look for him.

[asriloni]

Update:

August 28

Pretty shady move done by MajesticBank. Looks like he just decided to run off with everyone’s money.
His exchange was already super slow, but now it’s obvious he just scammed everyone.
Really bad look for him.

Like what i said. Majestic finally run away with people money. The more exchange site for monero is getting disappear, the harder to exchange the token. The regulator pressure looks real here.

[Trêvoid]

Update:

August 28

Pretty shady move done by MajesticBank. Looks like he just decided to run off with everyone’s money.
His exchange was already super slow, but now it’s obvious he just scammed everyone.
Really bad look for him.

Like what i said. Majestic finally run away with people money. The more exchange site for monero is getting disappear, the harder to exchange the token. The regulator pressure looks real here.

Regulator pressure doesn’t give you the right to take your customers money and disappear. I strongly condemn his actions

I truly believed he was genuine but looks just a scammer.