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Epik, parent company of one LET Host Provider here, is under financial mess [Drama]
I stumbled upon a blog post today about Epik, who is parent company of one LET Hosting Provider here, is under financial mess.
the drama in-short:
- they had in-store credit called Masterbucks
- they used all money from Masterbucks to fund operations
- could not return money to customers
- promised 6% annual interest if they do not refund money from Masterbucks
- Also, started Escrow service, without license
- brought new CEO in September to solve the mess
- emailed few customers: they brought down the Masterbucks debt from $4.5M to $800K
- Last week their customer posted complaint that he still has $1.5M in Masterbucks not refunded.
- Epik CEO is unaware of this $1.5 debt
- Epik CEO is also unaware of additional debt $300,000 and states the $800K they quoted in email is no longer correct
- Employee on contract sues Epik that he has not been paid
earlier they had all customer's data stolen!
Comments
An epik scam.
Now that's an epik comment

I wonder if @terrahost is in danger now that they're owned by epik.
IDK, but according to the above blog post Monster previously quoted "the company received a $32 million investment. That investment didn’t fully come to fruition."
Time to start making backups I guess
I'm fine, I've rsynced my terrahost backups to hostsolutions
Did everyone start a ponzi this year?
The EpikChain genesis block includes a full copy of the Charleston church massacre.
Francisco
Lol. I almost forgot about that. Didn't the former CEO (Rob Monster) forward the video to his staff or make them watch it or something?
Monster was widely condemned in the wake of the 2019 Christchurch mosque shootings for uploading video of the shootings to Twitter and Gab. He posted on Gab that he had uploaded the file to the InterPlanetary File System (IPFS), and wrote that Epik was working on a tool to make it simpler for people to create IPFS files, describing IPFS as "crazy clever technology" that makes files "effectively uncensorable". The Washington Post later wrote that Monster had "used the moment as a marketing opportunity" to promote Epik's products. Monster also shared the link to the video on Twitter after Twitter announced it would be removing any video of the incident. His tweet was removed by Twitter after several hours. Monster made claims that the video of the Christchurch shooting was not real, and that the shooting had been a hoax. A former Epik staff member alleged that Monster had begun a company staff meeting by asking employees to watch the video of the shootings, saying that it would prove to them that the attack had been faked.
(from his wiki article)So yes, he totally did lol
Ooof
Yeah, guy's fucking nuts.
Who owes the remaining 1499998.5 Dollars ?
https://www.trustpilot.com/reviews/637f4b70252cba2c02e23eae Ouch
(DomainEmpire.com review about Epik owning them 1,5million they can't withdraw)
Wow , the more I live,the less trust I have in all this stuff
It's time to transfer out all of my domains from Epik.
See y'all later.
It seems epik is using masterbucks as a cash machine, they take money from people selling domains through their escrow service and giving them $masterbucks even though some people requested direct to their bank account, is this legal?
And I get annoyed having $1-$100 gift card balances for businesses that go tits up in my town.
I don't know what would make me trade money/service/goods for $1.5M fake credit.
It was a typo from my side, the actual number is $1.5M debt.
Sounds like I'll be making a cameo appearance in the near future
I was so hoping for a plot twist :-)
Cheers
I don't understand why you would ever hold 1.5M in "masterbucks" to begin with.
He treated it like a bank. A bank that was giving 6 - 7% returns. $100k/year for free.
Francisco
I would have done so too before all this happened and get free 100k per year.
You know what they say about too good to be true.
He put it in crypto didn't he?
A video from a customer who is still waiting on her $91,000~ Masterbucks payout:
Some eye-opening comments over at https://domainnamewire.com/2022/12/01/epik-continues-to-dig-out-from-financial-mess/ as well.
Makes you wonder if Epik used some of these funds to purchase a hosting company that is known here. Pure speculation, of course... but that'd empty the coffers a bit, or if it was wrapped up in FTX.
A bit more on Twitter, indicating this has been going on for months: https://twitter.com/search?q=#masterbucks&src=typed_query&f=live and on TrustPilot ( https://www.trustpilot.com/review/epik.com ) where Epik seems to be trying to get people to post their negative reviews here ( https://www.trustpilot.com/review/masterbucks.com ) instead.
EDIT: Moar: https://twitter.com/search?q=masterbucks&src=typed_query&f=live , from last month: https://www.dailydot.com/debug/epik-masterbucks/ , etc, etc.
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From: https://providencepost.com/epik-update-masterbucks-fails-to-payout-customers-after-maintenance/ ... There are many more eye opening remarks made in that article.
feels like Dejavu.. i think around 2014-2015 when searching for payment online. That time masterbucks reputation already full of fraud and scam. scamming it's user's, they cant cash out their "income" doing survey,clicking ads,etc from f*ckbucks
The service provided by Terrahost has been nothing short of amazing, and I hope that they'll be able to buy back their company if Epik goes belly up.
Glad Epik didn't seem to fuck around too much with their day to day business. (except that Lagos thing I guess)