cointellect

[hashpower]

I have different problem.

I have bought a "Starter" contract on December 3rd. This contract expire date is March 3rd but since yesterday they have decided close it and just put it as expired. (I have three more weeks).
My second starter contact i bought in January 24th and is currently running (but with the new so called payout amount 1.1 EURO instead of 2.2.

In all matters of legitimacy this is against the law.

Today i noticed that all my balance moved to held.

Something is fishy!!!

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[KushMinded]

I have different problem.

I have bought a "Starter" contract on December 3rd. This contract expire date is March 3rd but since yesterday they have decided close it and just put it as expired. (I have three more weeks).
My second starter contact i bought in January 24th and is currently running (but with the new so called payout amount 1.1 EURO instead of 2.2.

In all matters of legitimacy this is against the law.

Today i noticed that all my balance moved to held.

Something is fishy!!!

That's interesting I have a starter from December 13th that's still active, but it is running as the new payout along with all my other contracts. My balance is also in the "held" state.

Clicking on the withdrawal total link going to the payout log page I noticed that my full account balance (that's held) says "on hold" under the method of "swiss card". So I'm not quite sure what that means. I also noticed it says the swiss card is free of charge to expert contract users... but I'm still able to fill out the form to request one even without that status. Not sure if I'll be charged a fee for the card request or not. They're not very clear on the details.

[eneloop]

There is a simple reason to held earnings from contracts purchased before jan 1st: Preventing people from withdrawing real profits (If they paid the amount showed on old contracts page everyday in full, old contracts should have reached break even already).
This combined with lower earnings will keep their ponzi at life for some time.

@hashpower
If you think something is fishy, remove your ref. link from sig.

[coolindark]

In terms of use, it's already written like they can change contracts as they wish. But there is NO agreement in contract purchases. So this f***kig agreement has no meaning because they can change anything anytime in it... only we can do nothing is daily earnings... these are explained in purchase page. So it is OK. But, removing contract is against law, changing your new contracts daily earning without changing ending date is also against law! Yeah, check your left active contracts... ending date is same as before (not 6 month), earnings are low.

Time to go to EU courts immediately... and EU courts love such cases!.. we can open a page for digital signing.

[KushMinded]

Is CryptoPay available for anybody yet as they're stating? For anyone with contracts purchased after Jan 1st? I have a couple before that point and a couple after that point and not seeing any option to withdraw yet.

[CointellectUser]

For me is the same - I have the Pilot contract from the last Saturday but there is no payout option enabled for the moment.
Moreover, they even don't observe the new contract earning rates. I have 3 Starter and 1 Pilot active.
Today total earning is EUR 5.5 including the EUR 0.8 from the miner.

So, as everyone can easily calculate:

Promissed minimum contracts earning:
3xStarter + 1xPilot = 3x1.10 + 3.32 = 6.62

Reality: today Total 5.5 - 0.8 = 4.7

So if it is as they declared I could have EUR 7.42 in today total (contracts + miner) but I have 5.5 only...  

It is 40 minutes before the midnight (of their time) so I don't thing the contracts will earn the missed 1.92 €...

[KushMinded]

I also find it interesting how all the previous made money has been put on hold, but my earnings from today are in my Live Balance. Which is about 1/3 the daily payout that I was previously getting.

[CointellectUser]

Exactly... They are a big assholes and what they did since this year begining is only a big fraud made to all trustful users

[arallmuus]

For me is the same - I have the Pilot contract from the last Saturday but there is no payout option enabled for the moment.
Moreover, they even don't observe the new contract earning rates. I have 3 Starter and 1 Pilot active.
Today total earning is EUR 5.5 including the EUR 0.8 from the miner.

So, as everyone can easily calculate:

Promissed minimum contracts earning:
3xStarter + 1xPilot = 3x1.10 + 3.32 = 6.62

Reality: today Total 5.5 - 0.8 = 4.7

So if it is as they declared I could have EUR 7.42 in today total (contracts + miner) but I have 5.5 only...  

It is 40 minutes before the midnight (of their time) so I don't thing the contracts will earn the missed 1.92 €...

even if they give you out 10 EUR i dont think it is possible to withdraw from that site, i got few friends that cant withdraw there, though i warn them from the very first day not to put in anything there

[CointellectUser]

For me is the same - I have the Pilot contract from the last Saturday but there is no payout option enabled for the moment.
Moreover, they even don't observe the new contract earning rates. I have 3 Starter and 1 Pilot active.
Today total earning is EUR 5.5 including the EUR 0.8 from the miner.

So, as everyone can easily calculate:

Promissed minimum contracts earning:
3xStarter + 1xPilot = 3x1.10 + 3.32 = 6.62

Reality: today Total 5.5 - 0.8 = 4.7

So if it is as they declared I could have EUR 7.42 in today total (contracts + miner) but I have 5.5 only...  

It is 40 minutes before the midnight (of their time) so I don't thing the contracts will earn the missed 1.92 €...

even if they give you out 10 EUR i dont think it is possible to withdraw from that site, i got few friends that cant withdraw there, though i warn them from the very first day not to put in anything there

I am quite sure it is as you say... You know, all what we can do is to monitor current situation and tell our disillusion to the world - sometime it helps to disolve adrenaline from our veins It is all we can do for the moment   Maybe it will help to the new potential Cointellect's user to think twice before being catched into their game...

[CointellectUser]

Latest email from Cointellect:

Hello again,

Thanks for the continued support and preference for CoIntellect, your
number one cloud hashing resource.

Following the changes in the cryptocurrency market and in accordance to
our Terms of Service, we are forced to update our platform features in
order to adapt our business model to the current environment and we
would like to give you an explanation about the new changes. Please
review all the information and let us know if you need some
clarification about this statements.

CANCELLED AND FROZEN CONTRACTS

Older lower tier contracts are cancelled as they have been rendered
obsolete and unprofitable due to rising difficulty and competition.
Contracts purchased recently will remain active but will receive a
variable daily earning which is based on the current BTC price.

Higher tier contracts are temporarily frozen until such a time that BTC
prices rise to normal levels and we can decide how to proceed
accordingly.


PAYOUTS

Some pending withdrawals will be voided and cancelled, especially if you
have already successfully withdrawn more than your initial contract
investment.

As mentioned in our News post here
https://cointellect.com/news/view/?id=47, all withdrawal fees have been
waived.

Furthermore, any Basic, Starter and Pilot contracts purchased after
January 1st will have their CryptoPay payouts enabled from today. A1, A2
and premium contracts will also be eligible for CryptoPay withdrawals.

We are currently working on enabling Cryptopay, in addition to the First
Swiss Card which is available free of charge, to Expert contract
holders.

Additionally, any users that wish to request their Crypto-debit First
Swiss cards can do so by visiting the request page at the link below:

https://cointellect.com/firstswisscard/request/


LIVE BALANCE

The amount in the Live Balance of all users is temporarily put on hold.
We cannot specify a date when these will be ready for processing, so
please check back periodically on your payout history and withdrawal
pages.

Furthermore, solo-mining earnings cannot be withdrawn and can only be
used now for contract purchases.


REFUND

If your total successful withdrawals has not reached your total contract
purchases, you may be eligible for a one time refund of the difference.
This refund will void and nullify all your existing contracts. However,
your account will remain active in case you wish to continue using our
platform for solo mining and contract purchases in the future.

If you paid by credit card for your purchase, we will try to refund part
of or the full amount of the transaction if it is still possible.
Otherwise, you may start charge back proceedings with your issuing bank
as you wish.

If you did not pay by card, the refund will be processed through our
partner First Swiss Card, which we will send free of charge to you. If
you opt for this method, please send us your username and a screenshot
of your Statement Page so we can review if you are indeed qualified for
the refund. If so, we will also need your complete name and address.

We understand that these measures may be difficult at first for some
users, but they remain to be preferable than other alternatives which
will make it almost impossible for us to stay in business in these very
turbulent times. We thank you for your continued support and
understanding.

Regards, Luis.
CoIntellect, Customer Support and Sales.
CoIntellect.com | mining done right |

I really like their self-confidence in the first sentence: ...your
number one cloud hashing resource...

Yes, I really thing so.... Maybe I can adapt it little:  ...your
number one scamming resource... A'hoy miners Greetings, Shibes... Mining done right

I am curious if the last statement (REFUND) is really getting in force... Oh, I think I know...

So, total balance: All users have their earnings frozen (i.e. spent by Cointellect staff) and they start the new Ponzi from scratch... To the moon!!!

[andre1980]

Luckily i held of a few weeks ago when i had the chance to upgrade..

While it maybe in the terms, it isn't legal in any way to void/cancel running contracts..
EVEN when they ROI'd.. These were 6-24 month contracts, this is the term you agreed on at purchase.
You can't legally void these, even while it may be in the "hidden" terms.
This is the case in The Netherlands at least. Such important things have to be told upfront (so instead of 12m, it should said up to 12m, can be cancelled at any moment)
What is just plain illegal is cancelling any withdrawals on the live balance and voiding them. These funds are already earned, and are legally yours.

Very untrustworthy firm.. No one will invest anymore if they don't even honor their current running contracts..
I know they are not the first to cancel contracts that are no longer profitable, but most of those cloud miners were in China, the US, etc.
To avoid legal problems, they should just suspend contracts indefinately, until things change. And offer the owner of the contract the chance to cancel or upgrade.

If i had my balance stolen and/or contract voided i would inform the local and EU institutions, and maybe even law enforcement (if they don't retract the cancellations)

[coolindark]

The only "Thank God" thing is my account has already reached 80% ROI... With left contracts i can easyly close the ROI complately...
If they want to continue the sheme, they have to start payments again...

But about profit... if they pay all the left contracts i think i'll have 50-60euros profit after more than 5 month...

  simple waste of time...

[hashpower]

This is pure bullshit and i believe that everyone was right a SCAM!!!!!
I have removed my affiliate signature and can not recommend on them anymore.

[dr1980m]

don't spend your time in here
Cointellect is scam and i don't thing they can be return
if they give red alarm one time, it will be never good again anymore..

[coolindark]

Lol, they delete all negative comments in facebook pages and mark people as spammers. Nice vision... hahahahah!

[andre1980]

I don't get why they are cancelling running contracts and withdrawals instead of just temporarily suspending them, which is legal.
They make themselves liable, which isn't that great of a business plan.. Everyone that has their account/withdrawal voided or cancellend is in their right to sue.
Even when some say it could be a temporary thing. As of the moment they cancelled, they are in breach of contract, no matter what the Terms of Service say.

[eneloop]

Some pending withdrawals will be voided and cancelled, especially if you
have already successfully withdrawn more than your initial contract
investment.

This is exactly what I said in my last posting. Now they show their face. They will do everything to prevent people from withdrawing profits to keep their ponzi running.

[mendoza1468]

Real ponzi shht.
They reduced the amount received each day for my 3 starter contract
but if i calculate 3 month at 2.22 = 199$ ... but those contract cost me 300$ There is a HUGE PROBLEM
That awesome !! And im not even sure they gonna give me 1 penny one day ...

[Dilemma]

Lol, they delete all negative comments in facebook pages and mark people as spammers. Nice vision... hahahahah!

this is too bad
it show us , we cant trust them