Category Archives: Scam Fraud Activities

cryptodouble.com yes off course it’s a another ponzi scam

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The most well know strategies to outsmart these types of ponzi scheme scam is to invest one time and never to look back, but guess what? not too many people can do that. Everyone are as greedy as anyone else, once you get your return of investment, some say they can stop, but why? stop with that small amount of money for what? so in the end they reinvest the money and kept on reinvesting. The next thing they know is the website no longer exist and nothing you can do about it.

For many others, their strategies involves large amount of investment the first, it’s double for nothing, and most of the time they get nothing back because the program having trouble paying certain people with large investment.

Then the very famous strategy is to refers victims to the ponzi scam website and get paid big commission similar to coingeneration.com with a whopping 20% commission members cannot resist that commission and kept on sending more people to get scammed, even getting their family and friends scammed.

How long does these ponzi scam live depend on the amount of money flowing in and out, if one day the amount in is not that great and the owner no longer have fund to make payout, the program will have trouble paying and will fall apart. However if the program is lucky enough keeps on getting reinvestment and new investors investing then it will live longer, but for sure, will never live long, could be weeks, possibly months, but for sure not a year. The website might still be there to scam, but many already knew it’s a scam and they will not bother, some just don’t do enough homework and got in loss all their money.

Cointellect mining pool still down for over 2 weeks and continuing

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Let face it. Would you trust a business calling themselves mining done right? but their mining pool been down for over two weeks. Ok, so maybe not totally down, but it’s up and down, up and down, disconnected, waiting for connection, not responding, waiting for work, rejected work, freezed user’s computer crashed and many more. That’s Cointellect Mining Pool for you whom called themselves mining done right. Well today, or for sever weeks already if not the beginning, Cointellect Mining Pool been done wrong. All cointellect want is trick you in the mining pool to see the profit, then get you into the contract mining by paying them money.

Cointellect mining pool, for those that run mining pool would know that 24/24 monitoring is required, if it’s down, it can be reboot to bring it back up again. If mining pool have issues, fix it and bring it up again within several hours the most. If mining pool have bandwidth problem, then get more bandwidth, should take more than a day. If mining pool beyond capacity than the current hardware can support, upgrade to a faster hardware, should not take more than a day.

So what is going with Cointellect Mining Pool? only one answer that makes sense at this time. If Cointellect continue to have problem with the mining pool and still hasn’t publish any news regarding and specifically to the mining pool problems for over two weeks now, then it’s very much obvious that Cointellect is up to no good. What mining pool owner don’t let the users community know what’s going on with the pool specifically, whether it’s ddos attack, software issue, hardware issue, capacity issue? but NONE, nothing that Cointellect published in their news that mention about the mining pool issue, other than support email saying we’re aware of the problem and working very hard to bring it back up normally, for two weeks already and it’s still the same, and getting worst. On top of that, people are reporting missing earnings, and others have earning that got delayed for 12 hours 24 hours and days.

Bottom line, Cointellect mining pool done WRONG! not right. It’s transparent now that cointellect isn’t a real business they say they are. I would high recommend people to research carefully before investing on Cointellect mining contract. Forget about mining at Cointellect Mining Pool, you better off mining elsewhere, like multipool scrypts. If you mine at Cointellect you will see that it’s giving you more problems monitoring it than making money from it. I still have hope for those of you who invested in mining contract that you at least get your money back as ROI, don’t expect profit, if you did make profit, DO NOT REINVEST, because you will loose it all. For those that mining, highly recommend to mine elsewhere until Cointellect make some kind of specific announcement in regard to Cointellect Mining Pool, what happen and when will it get fix, very unprofessional business calling themselves Mining Done Right.

Lastly, I would like to share that Cointellect is a Turnkey company, which has many sub business operating similar to HYIP. I got this information from a known source at reddit.

cointellect scam miners to buy mining contract by causing mining pool problems

cointellect scam miners to buy mining contract by causing mining pool problems

Cointellect mining pool done wrong!

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Many people whom joined cointellect to mine will most likely get discouraged. Cointellect minig done right? ERRRR WRONG! Cointellect slogan should change to Cointellect Mining done wrong!

For the past couple of weeks, cointellect mining pools disconnected miners anytime it want to and reconnect will yield same result, cannot connect, timed out, mining software crashed, or mine for free. There is no way around it, except to buy mining contract from cointellect. All these trouble with the mining pool tied to cointellect want you to pay them money, cointellect wants your money in their pocket.

All these time Cointellect mining pool were simply a gimmicks giving you $10 free, not free if you killed your computer or pay for electricity. The gimmicks eventually get you into paying cointellect money, not you getting paid. Hopefully many people are realizing this now, not falling for the tricks cointellect have more to come.

Cointellect is no different than coingeneration.com ipuservices.com and many more. It’s getting more clever. Cointellect is a much clever than its previous scammer such as coingeneration.com although coingeneration paid a larger payout than cointellect with only $10, coingeneration.com used to pay $30 free. In any case, coingeneration.com already turned scam many months ago. Cointellect up and running probably same month as coingeneration.com started, in April and fall apart during Holidays weeks, and after that just stories teller, making up stories taking full advantage of whatever situation available.

Members whom had been mining at cointellect using their CPU, GPU, ASIC, might want to turn it off now, you will not make any money because of the mining pool issue will disconnect you or connected you to mine only 10 cent a day or nothing at all. You will be wasting more money on electricity than earning with cointellect. Yes, many people earned good money with cointellect few weeks ago, but not now, and not ever anytime from now on because the scam started. The scam transparency had started for cointellect.

Cointellect discouragements

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By now anyone whom been into cointellect would noticed many changes, many problems, and I hope people thinking of cointellect better do their homework. Now especially for the Bitcoin Expo 2015 indication of Cointellect as mining sponsor better check the background of Cointellect and current activities before accept cointellect as its mining sponsor.

Cointellect been having too much problems with mining pool. Then now with payout earning not being paid or paid very slow 12-24 hours and sometime missing payout.

Cointellect goals appears to be discouragements people from mining with computers CPU, GPU, ASIC or whatever equipment user have. The discourage became transparent when cointellect published news and support responded posted all over the internet indication of mining pool problems continue to not working, but contract mining not affected. Another indication of discouragement cointellect members is asking users to buy contract, the profit is more than mining, mining appears to be a gimmick for members to buy in the contract to trust that’s its legit.

Cointellect appears to be loosing investors, as a result cannot keep up with the payout and has to resort to alternatives strategies to get more investors or somehow to limit the payout by increasing the problems with the pool indefinitely, it’s one of the way cointellect are doing to not paying or limit payout up to half or less or none payout, so the blame would be on mining pool.

 

Bitcoin price plunged due to Exchange got hacked?

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By now, everyone whom invest in Bitcoin or simply monitor Bitcoin activies woudl probably know about Bitstamp got hacked and loss $5 million worth of Bitcoin, 19,000BTC to be exact.

However the price of Bitcoin already plunged even before the hacking mentioned by Bitstamp.

Here come the conspiracy theory. Did Bitstamp really got hacked? How do we know that Bitstamp did this on purpose to get away with 19,000BTC $5 Million cash? Same thing with MtGOX, how do we know that MtGOX really loss all the Bitcoin? How do we know they’re not stealing the Bitcoin themselves and blamed to the hackers?

Bitcoin is technology, those people into Bitcoin especially the security and development are hackers themselves and they couldn’t stop be hacked? So Bitcoin is not secure as Bank? easier to get hack?

Cointellect having too many issues now

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Let jump right into the latest issues with cointellect. I’ve came across too many negative reviews in regard to Cointellect. There are positive reviews about cointellect, but those reviews are by Cointellect affiliates just want to get the 10% commission.

  1. 30% fee is on going, no, it’s not 20% to 30%, it’s 30%, never was 20%. No, it’s not just the Holidays, now officially on weekends as well. Who knows what other days will be implemented. Cointellect rules changes overnight nothing anyone can do about.
  2. Continuous mining pool issues, included permanent disconnected, not responding, rejected share, waiting for work and so on. Not only Holidays, Not only on Week ends, now also week days business days.
  3. Cointellect started to have ongoing issues with earning payout. Cointellect payout are now super slow more than 12 hours to over 24 hours, some even reported that never got the payout. Cointellect know the issue? well fix it instead of littering the internet with cointellect advertisements and trolling. Sounds too familiar making excuses for not being able to make payout earnings.
  4. Cointellect favorite statements. “contract mining earning and withdrawal are not affected” yeah a nice way of saying buy the contract or should I say trick members in buying a long term contract. “cointellect mining contract are more profitable than mining with your computer”  or what cointellect really mean is, we trick you on mining with your cpu gpu and asic so you can see mining at cointellect is 100 times more profitable than mining on other pools, but don’t be surprise if you got tricked into buying the long term contract and loss your money, keep on reinvesting is a bad idea with cointellect.

Bottom line, cointellect appears to be transparent now toward HYIP. In other word it’s a HYIP scam methodology with enhancement much more advance than coingeneration.com scam, although the two might be linked.

cointellect fake data center dc.cointellect.com looping video overlay webcam

cointellect fake data center dc.cointellect.com looping video overlay webcam

Cointellect published news not clear of Not paying or Delayed?

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Cointellect posted news in regard to the 30% fee clarification and bulk payments implementation through credit cards. Doesn’t this sounds to so familiar with coingeneration.com? so many good news to hide issues and keeps its members motivated.

This was the key news published by the previous coingeneration.com website business to keep its members motivated so they get too much negativity comments feedback on the internet. Well it had started with cointellect now, pretty much similar to coingeneration in the old days. When payments issue arise, these business will try to calm its members by publishing news that would keep the members calm and continue to be motivated. Then payments will continue, then stopped again, and then pay again, then stopped, then pay a little bit, then stopped, then new news switching to different ideas to keep members motivated like will pay in bulk big volume payment, IPO stock offerings and so on with the company. Yes it’s coingeneration.com methods that had scammed hundreds thousand people whom doesn’t know.

 

cointellect not paying fraud scam making up stories like coingeneration.com

cointellect not paying fraud scam making up stories like coingeneration.com

 

Bulk Payments

Published at Jan 6, 2015 5:55:00 AM
Greetings Miners,

We wanted to issue a formal statement clarifying our position on the Dogecoin withdrawal fees we recently implemented. For those unfamiliar with the recent change, we have added a a withdrawal commission taking place on Saturdays and Sunday’s ranging from 20%-30% exclusively on Dogecoin withdrawals.

While this can be interpreted as a drastic change, it’s important to understand that the end goal isn’t to tax the user – it’s simply to discourage Dogecoin withdrawals. We realize this isn’t an ideal situation; however, recent improvements to our platform have minimized our overall Dogecoin liquidity. Given the recent block reward halving and the large volume of Dogecoin withdrawals we process, it has become increasingly difficult to keep up with demand.

To accommodate this recent change, we partnered with CryptoPay to offer completely free Bitcoin withdrawals. Bitcoin withdrawals are absolutely not subject to this commission and are being processed instantly. Additionally, we always have and still offer PayPal withdrawals which are only subject to PayPal’s fees. We kindly ask users to note that we expect any queued PayPal withdrawals to finish processing this week.

In conclusion, we are trying to transition the bulk of our withdrawal volume away from Dogecoin and towards PayPal or Bitcoin. While we have every intention of continuing to offer support for Dogecoin withdrawals, we are simply unable to keep up when 80% of our volume can be attributed to Dogecoin.

Our developers are constantly working to expand our payout options and our most recent plans include offering credit card mass-pay solution. This feature will be implemented in collaboration with Wavecrest, a reputable company that also services Xapo.

We do apologize for any inconvenience and thank you all for your continued support.

Sincerely,

CoIntellect Staff

Cointellect is not paying its members since last night January 5th 2015

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According the many forums, blogs and social media. Many Cointellect members are confirming that they have not received earning payments since last night January 5th 2015.

Cointellect no longer pay its members for earning withdrawal whether earnings from cointellect pool mining, or from cointellect contract mining. Cointellect members reported of this problem since last night January 5th 2015.

When members sent messages to support cointellect, there wasn’t any immediate respond nor any announcement posted on its official website, other than the known new rule implemented a while ago just today clarified 30% fees requirement for < 10EUR. The < 10EUR 30% many members already know it’s a way of manipulating the members forcing them to buy a contract. Only by buying a contract the members would get verified or verified with a credit card is super risky and only multiple level credit card processing accepted.

The transparency of cointellect business showing more of like any other HYIP (high yield investment program) out there in the past as I’ve mentioned multiple times, just like coingeneration.com ipuservices and many others. These business claimed to be legitimate by taking advantage of certain technologies and paying its members consistently until one day they have no more investors, and therefore no more fund to pay its members, or when the operator seen appropriate to withdraw and run away.

Bitstamp Exchange got hacked? January 4th 2015

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Anyone whom had done business with Bitstamp would probably gotten an email indicating problem with Bitstamp. The key information is, if anyone deposit Bitcoin on or after January 5th 2015 will not be honored, meaning your Bitcoin is gone where it’s 0.0001 BTC or 100BTC all gone. However if it’s a large amount, you can probably check with Bitstamp suppose to get it back if possible.

It is official that Bitstamp hot wallet got hacked. Bitstamp had suspended its service on January 5th, 2015 and at this time it’s still down, no ETA. Let just hope Bitstamp hot wallet don’t have a whole lot of Bitcoin in there. Both Coinbase and Bitstamp, and probably many others stored their Bitcoin in a cold wallet, hot wallet would only hold small amount for constant transactions. Meaning your Bitcoin is safe if you deposited a couple days ago, it is in the cold wallet and also guaranteed insured by Bitstamp and Coinbase.

There’s a conspiracy theory going around right now. People are saying that Bitstamp did this on purpose due to the fall of Bitcoin price. Bitstamp might not be making much money on transactions, on top of that Bitcoin value plunged, so with no revenue, no profit, Bitstamp decided to make stories saying they have technical problem, all sounds so familiar like MtGOX? as they will take advantage of this and stole all the bitcoins moved it somewhere else and sell it later. The same conspiracy theory with MtGOX, in which the Police are investigation its staff possible stealing the Bitcoins instead.

BITSTAMP SERVICE TEMPORARILY SUSPENDED

We have reason to believe that one of Bitstamp’s operational wallets was compromised on January 4th, 2015.
As a security precaution against compromises Bitstamp only maintains a small fraction of customer bitcoins in online systems. Bitstamp maintains more than enough offline reserves to cover the compromised bitcoins.
IN THE MEANTIME, PLEASE DO NOT MAKE DEPOSITS TO PREVIOUSLY ISSUED BITCOIN DEPOSIT ADDRESSES. THEY CANNOT BE HONORED!
Customer deposits made prior to January 5th, 2015 9:00 UTC are fully covered by Bitstamp’s reserves. Deposits made to newly issued addresses provided after January 5th, 2015 9:00 UTC can be honored.
Bitstamp takes our security and soundness very seriously. In an excess of caution, we are suspending service as we continue to investigate. We will return to service and amend our security measures as appropriate.
Bitstamp Team

Cointellect Mining Pool working properly only on weekdays?

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According to many members of cointellect miners, they’ve confirmed that it appears that in the weekdays (business days), cointellect mining pool works properly without issues like not responding. During the week end, cointellect mining pool doesn’t works properly, or if it’s working at all.

So on top of the 30% fee during week end, now Cointellect Mining Pool doesn’t appears to be working on weekends (Saturday and Sunday) either. There wasn’t any announcements foreseen. The miners had to figure it out themselves or so they thought based on the pattern of cointellect minig pools problems.

The Cointellect mining pool problems pattern is, weekends problems, weekdays (business day) no problem, holidays problem, 30% fee for earning withdrawal on weekends, 30% fee earning withdrawal for holidays. These were unexpected rules implemented by Cointellect, what’s next? Decreased earning for miners? Mandatory 30% or more fees for under 10 Euro earning? Earning can only be withdraw via cryptopay, no more Dogecoin withdrawal? We don’t know. But, why are Cointellect doing this? simple answer would be to force members in buying contract mining since it have no problems for now.

Cointellect still classifieds as suspicious under my radar.