The HYIP industry about recent troubles with EgoPay payment system, one of payment processors, widely used by HYIP admins and investors online. On January 8 first complaints aout the activity of EgoPay have been posted on niche forums. Customers of the payment processor complained about missing funds on their accounts. For some unknown reasons giant amounts of money disappear from customers' accounts with no further explanation. The corporate e-mail ([email protected]) remains silent. Even though old customers are proven and verified ones, those who used to hold business with EgoPay before, they look to be simply banned from communication with the funds frozen or stolen.
Dozens of large merchants are now victims of EgoPay scam scheme. Millions of dollars are stolen. It's time to stay away from EgoPay now. The majority or online merchants stopped taking EgoPay already. One of the schemes used by EgoPay admins has been revealed. Here is a short description of how the fraudsters from EgoPay work since the start of December 2014.
One of large merchants has compared the IPs of EgoPay admins, as they logged into the system and IPs, from which large payments have been made to the merchant via EgoPay. The IPs turn out to be the same. They are all from Lithuania, one provider. The conclusion is obvious. EgoPay deposited large amounts of money to carious services (20K-30K per transaction), then funds were withdrawn from these services and locked them inside the system.
The customers started to panic, it's natural for since the fall of Liberty Reserve, it's the largest scam in the industry of payment processors. Obviously the managers of EgoPay needed to think of the legend to somehow calm the customers down (which is still hard to believe going to happen). Unfortunately the legend was trivial: "system hack". Hardly this legend and reason will stand the ground. Most of large customers and merchants, who lost their money, will hardly believe this explanation.
Naturally, we'll wait for the development of the story. As for now. The exchangers' accounts are now added with the following note: " We would like to inform you that part of your funds were temporarily frozen, please contact b**@egopay.com for more details." As we have said earlier, contacting this e-mail makes no sense. It remains silent. The official blog and news page of the payment processor has no any update on this situation unfortunately, which makes all customers be rather suspicious stay alert.
