USI-Tech suspend withdrawals, $18 mill ETH mining pool cleaned out
As a result of a lack of communication from USI-Tech management, the rumor mill went into overdrive over the weekend.
Were USI-Tech going to honor 140% ROI BTC package payouts? Were secret negotiations going on between the SEC and USI-Tech?
And bearing in mind an SEC investigation has yet to even be confirmed, there was also one about the SEC dropping its case due to a lack of evidence.
All par for the course when a Ponzi collapses and nothing those who follow the MLM underbelly haven’t seen before.
In the aftermath of the weekend what we can report on are three significant developments:
- USI-Tech has formally suspended affiliate withdrawals
- $17 million in ethereum was withdrawn from a mining pool bearing the name “USITech” and
- USI-Tech’s TechCoin whitepaper reveals it’s just another “me too” altcoin
Let’s take a deeper look into each of them.
Despite being readily available at the drop of a hat to appear in video announcements prior to the Texas cease and desist, of late USI-Tech management haven’t shown their faces.
Instead affiliate communication is occurring through carefully scripted backoffice announcements.
Earlier today USI-Tech sent affiliates a new backoffice communication, announcing the formal suspension of ROI and commission withdrawals.
Citing “disputes with regulatory authorities”, USI-Tech advised;
Until these investigations are completed, we are barred from making any payments to prevent additional abuses.
The “investigations” referred to purportedly relate to “double accounts and false accounts used for unlawful payouts”.
It seems that up until the Texas Securities Board sent them a cease and desist, USI-Tech had no problem with turning a blind eye to fraud going on inside the company.
Tellingly, no time-frame is given for completion of USI-Tech’s investigations.
This raises the prospect of ROI and commission withdrawals for US and Canadian USI-Tech affiliates being suspended indefinitely.
Amusingly, USI-Tech are threatening to “prosecute” affiliates who it finds have received “unlawful payouts”.
Putting aside the fact that every payout in a Ponzi scheme is unlawful, presumably the affiliates USI-Tech are threatening are based in the US.
First of all USI-Tech is not an enforcement authority, so how are they going to “prosecute” anyone.
At best they can file a civil suit claiming damages. But with USI-Tech management on the run from US authorities, where are USI-Tech going to file these lawsuits?
Once again those familiar with the MLM underbelly will recognize USI-Tech’s legal threats for what they are – hot air.
The prospect of USI-Tech management keeping funds invested by US and Canadian investors brings us to our next point of analysis, the clearing out of $18.3 million from an ethereum mining pool.
The mining pool in question is named USITech and surfaced last month. Whether the mining pool even belongs to USI-Tech is unclear. It is however widely believed that the company purchased an existing Chinese ethereum mining pool and renamed it.
Regardless, USI-Tech affiliates were quick to cite the pool as evidence USI-Tech was generating external ROI revenue, despite the fact nothing had been transferred out of the pool for seven months.
That changed approximately eleven hours ago, following the transfer of 15,651.75234 ETH out of the account:
At the current exchange rate, 15,651.75234 ETH is worth $18,327,344 USD.
The owner of the USITech mining pool account transferred the funds to “0x24BcC9d34d3b5F5ad2d8Aa944dB4aa7FFeB8b20F”;
From which it was then transferred to “0x876EabF441B2EE5B5b0554Fd502a8E0600950cFa”.
In this Reddit thread from about a month ago, “0x876EabF441B2EE5B5b0554Fd502a8E0600950cFa” is identified as a “hotwallet” account belonging to the Bitfinex exchange.
What happened to the $18.3 million after it entered the Bitfinex exchange is unclear. Such is the nature of cryptocurrency.
What I can tell you though is, in light of the announcement earlier today, the money isn’t going to be put toward paying affiliates what USI-Tech has represented they’ve earned.
Finally USI-Tech also released their upcoming TechCoin whitepaper.
From the looks of it, TechCoin is being put together by some Indian dev firm on the cheap.
Having gone through the whitepaper, TechCoin doesn’t seem to offer anything new. It appears to be yet another altcoin launched for the sake of launching one.
TechCoin might have gained traction being hitched to USI-Tech’s Ponzi operations, however in light of recent developments that now seems pretty unlikely.
TechCoin will remain a side-issue for most USI-Tech affiliates, who are now probably more interested in recovering funds invested into than the launch of the altcoin itself.
Despite instances to the contrary, thus far USI-Tech has failed on every level to demonstrate that it is operating as a legitimate company.
After receiving a cease and desist from Texas, a legitimate company would have promptly registered itself and disclosed the required information (in particular, evidence of external ROI revenue).
Instead, after receiving the Texas cease and desist, USI-Tech management has
- gone into hiding
- suspended US business operations
- started to liquidate a suspected source of capital holding over $18 million dollars
- prohibited US and Canadian withdrawals and
- threatened to sue its affiliates
I was thinking that they couldn’t possibly go more than another week or two. And here we are.
The mining pool getting cleaned out suggests two or three things
1) They don’t really own the pool. They are just renting the name.
This is more of a conjecture, but it makes far more sense than they actually have a reserve of $18 million worth of Ethereum
Description of a mining pool is optional. There’s no proof that a pool called USITECH actually belongs to USI. Same with the wallet.
2) There really is an investigation, and the REAL pool owners are afraid the funds may be frozen or seized, so it’s drained.
This is a logical deduction if we assume 1) to be true. The “real” owners don’t want USI to affect them.
3) Is BitFinex quaking in their boots?
Cryptoexchanges *do* care about compliance because they *have* to deal with real fiat currency for them to be useful. If the money really went through Bitfinex, they had been in trouble in 2017, when Wells Fargo cut off their access to USD, and apparently, their Taiwanese bank also cut them off, so they’ve been “bank hopping” throughout 2017.
it’s also worth noting that Bitfinex (and two other exchanges) have HALTED new users registrations. Bitfinex may restart in a week, but one wonders about the timing.
Not sure who’s putting these together but they’re pretty well done:
Footage found of USI tech performing their “audit”: youtu.be/sau1hC-QvwA
Its like living in the groundhog day movie.
2) Problems, Denial and Blame (perpetrated by the leaders)
3) Cash n Dash
4) Rinse and Repeat
And the people who always get burned are the people stupid enough to listen to a so-called Leader.
Yet despite Oz’ work over the years it just goes on.
You wonder why the Elite regard the people as useless eaters and why the Government never listen? There’s your answer.
Greed overrides common sense and to add insult to injury you used a decentralised currency so you are never seeing that money again.
What Oz, Realscam, Tara Talks, Etahn V, etc does saves MANY from scams.
Its hard to put into empirical terms. They see its a scam, move on & never comment.
That USI Block # does not match USI TECH?????
4873755 is miningpoolhub1 not usi tech?????
4873992 is Ethermine Not USI Tech????
4873755 and 4873992 are the blocks used to transfer from USITech to some other account (miningpoolhub1?).
This other account was then used to transfer the funds to the Bitfinex exchange.
I don’t have any information on the middle account used (or why it was used).
Posted by Vitaliy Dubinin in his Bitcoins Wealth Club Facebook group
Does USI-Tech even have “top 25 partners” outside the US and Canada?
And June is pretty optimistic. USI-Tech has completely imploded.
I wish the serial recruiters could be nailed to the wall but not the gullible ones even though they did choose to invest. They were just totally lied to.
And as said earlier, will prolly go into another one if they aren’t tapped out. Sad.
Those block numbers do not say USI Tech that is all im saying.
@scooter22 – Those are the miners who mined those blocks. It could be any mining pool or rig that mined that block and has no relationship to the transaction senders and recipients contained within the block.
In fact, it would be extremely unlikely that the block would be mined by the supposed “USITech” pool.
Right, blocks are just groups of processed transactions.
That’s a last gasp attempt to make it seem like it’s business-as-usual. It will also rev up the die hards to push a bit harder and squeeze a bit more money before it collapses.
So how does this account balloon from $8.4 million USD (as you published on 12/16/2017) in Etherium, to $18.3 million USD in about 1 month ?
It’s not just USI Tech info that isn’t adding up……….?
June 7 for the Dominican Republic party. My money’s on It’llneverhappen” in the 5th at Santa Anita.
Daily mining adding to the account and back on December 16th 1 ETH = $700’ish. It’s now just under $1220.
Bear in mind transferring to Bitfinex isn’t $18.3 million in USI-Tech’s pockets. We just know $18.3 million was drained from an ETH mining pool named “USITech” that purportedly belongs to the company.
What happened to the $18.3 mill in ETH after it was transferred to Bitfinex isn’t known.
So much for their claim that today’s announcement would clear up everything and they would answer everyone’s questions. Everything is as clear as mud, and now there are even more questions.
They lied about this just like they have lied about everything else. But I love the contest idea to steal even more money from the gullible who have drank the Kool-Aid.
USI Tech support said they are not keeping customer’s BTC.
Also traffic to USI web site from US is less than 30%.
Yet that’s exactly what the company is doing.
It was 40% something percent last week IIRC.
No doubt it will continue to drop now that the exit strategy has been initiated.
You will still have people from the US logging in to get updates on what is happening. Checking their back office to see the status of their BTC.
The daily percentage will drop as people will not be logging in every day like before. I expect the percentage to stay above 20% for a while longer.
especially badass hustler gangsta i’m sooo cool leaders like rodney burton whose going all – yo! i don’t care i scammed you with usi tech cause i’m movin’ on baby! :
woah look at that^^!! rodney dreadlock burton surfing ponzi waves like a pro in his shiny new louis vuitton shoes.
if pimps were cool then rodney burton would be the coolest one yo!
First prize: One-way ticket to Dominican Republic. Second prize: Return ticket to Dominican Republic.
the main problem with this is like saying cheap Indians developer.. you don’t know who they are… Indians are one of the best software engineers.. I’m not a member of usitech but as a neutral, i think your character defines you..
and those people who are a pretentious genius in crypto are idiots.. if the techcoin ecosystem will be implemented legally then its good to have a very usable crypto as long as legal..
I didn’t say they were bad software engineers, I said they were cheap. India is known for cheap software development.
Ponzi schemes aren’t legal, so there goes that supposition.
Totally false! I am an affiliate in the US, not a recruiter. They are still paying the daily payouts on packages and have not suspended withdrawals either.
I got paid out two days since they “suspended payouts” and did a withdrawal this morning. If you are going to report on somethj g have some first hand knowledge.
United States Gross – Domestic Product per capita:
$57,600 (2016 est.)
India – Gross Domestic Product per capita:
$6,700 (2016 est.)
By extrapolated estimates based on the above GDPs, software engineers in India work for between 1/9th and 1/10th of what American developers make.
The source is USI-Tech itself and there are plenty of actual US affiliates on Facebook complaining about non-payment.
So either you’re lying to save face or you’re in the US but entered some other country when you signed up.
Do you actually have the bitcoin in your own personal wallet, or is it just numbers on a screen in your usi tech back office?
There is a big difference. One you control and the other is fantasyland money.
Some from US/Canada have gotten withdrawals that were requested before they shut down in the US, others haven’t. It seems very hit and miss.
Nobody from the US that i’ve seen have received a withdrawal requested when they were able to request withdrawals after the shutdown in the US.
I’ve just been watching a webinar with Sharon James and John Smith. No information for anyone apart from to invest in Techcoin as it’s going to be awesome.
Also, haters are freaky looking, that was from Sharon and her response to what haters have been saying about USI.
Oz some may still be being paid in the US and Canada. The USI system isn’t crash hot and some people may be tagged as being from outside the countries.
I just watched the webinar with Sharon and James. All fluff. Surprise surprise.
And apparently I’m jealous and poor. And I should “come there and say that to my face” and such.
Sharon did say she is coming to Canada in February to promote USI-TECH. Seems like a weird choice seeing as thats illegal.
I’ll do my best to have the police there waiting for her. Also, I doubt she’ll have the appropriate work visas as they dont hand out visas for crime…..
I was “rich turner” in the chat lol. They saw my opinion.
I’ve submited my complaint form to the google play store about the app and its illegal activities. So maybe they’ll move on it faster than apple. And I must say, it was really easy.
I chose “illegal activities”.
Blocks don’t say anything.
The POOLS have description field (usually unused) but they can say ANYTHING.
I have the btc in my personal wallet and I signed up using my real address in the states.
Maybe the people complaining about not getting paid were involved in the marketing that was making false promises. I didn’t recruit anyone and have seen everything they promised come true, so far.
Why would USI-Tech lie and advise all US and Canadian affiliates that they’re suspending payments then? If you didn’t get the notice, obviously something’s up with your account for it not to be counted in the US.
Once a Ponzi scheme stops paying you it’s already too late.
Not withstanding proof of external ROI revenue was promised last June and hasn’t materialized yet – even with US authorities actively investigating USI-Tech.
But so long as you’re getting paid. Fuck your victims, right?
I take the notice that they are suspending payments to mean payments of commissions, not their payments of daily returns. The letter says they are terminating their distributor relationships, not the customer ones.
I’m hardly thinking I’m in the clear, I just think we don’t know the deal yet, just a lot of speculation.
Ah, so you’re one of the dumbasses who think numbers on your screen every day is “getting paid”.
It’s a script that generates a numerical ROI for every USI-Tech affiliate account. Think Paul Burks entering in a ROI amount every day by hand, only it’s likely USI-Tech’s is automated within set parameters.
They just can’t be assed separating US and Canadian accounts. Easier to just ban US and Canadian withdrawals and let packages expire.
And I did get the same notice, just interpreted it differently. Mainly because I want it to be different.
Don’t get me wrong, I’m worried too but nothing is set in stone at the moment. I have college friends overseas that can withdraw btc so it’s still working in other countries.
Oz, no need for name calling. And numbers on my screen became numbers in my coinbase wallet which are now numbers on my screen in my checking account.
Not now they won’t, so stop being disingenuous.
You don’t know that. I ordered a withdrawal Friday, after the letter they posted. It went thru, I have the btc and already converted it to cash. Maybe I was lucky, maybe that’s what others will see.
Point is, people online saying they know the endgame are assuming, they don’t know any ore than I do.
Look mate I’m not going to argue semantics down to the second of when you put in a withdrawal order versus when USI-Tech officially suspended withdrawals.
USI-Tech has stopped paying US and Canadian affiliates. And this is in effect, based on affiliates whinging about not being able to withdraw on Facebook.
Best of luck with the scamming.
I think on monday USI-TECH backtracked and they now froze the payments. so you prolly got to sneak out one last one. maybe the last one ever.
I have yet to hear of anyone actually receiving the Bitcoin to their personal wallet that they requested a withdrawal on or after Jan 8th,2018.
Does anyone know if people who were customer only and not affiliates have received all the same notices we did and does their dashboard look different than as a customer only after Monday January 8th??
Everyone in USI-Tech is an affiliate, whether you recruit or not. Everyone in the US and Canada got the same notice.
Not sure about that. Had a choice to either be customer only or become an affiliate which then enabled you to recruit others and get commission for it.
One enrollment form, I just checked.
They might have tried to pass off non-affiliates back when they were pretending to run a forex bot, these days everyone is an affiliate.
Anyway it’s all pseudo-compliance in the end.
See any USI-Tech customers complaining after being cut off? Yeah, me neither.
I have not received any withdrawal from USI-TECH that I’ve requested since Jan 5. Just pending. I’m not expecting to either. I think we all got screwed.
When I signed up in August had a choice. I just updated to become an affiliate 2 weeks ago. But even so I never promoted USI-Tech. Was thinking about it and then this happened.
If you just had to tick a box to migrate to being an affiliate, yeah – pseudo-compliance.
At this point it doesn’t matter. As far as I’m concerned my belief is we are not getting any of our Bitcoin back period.
Very hard expensive learning experience for me and I’m sure alot of others.
Larry What country are you from?
I’m from USA. I’m signed up in USA. So screwed.
Larry can I ask a question… it’s something I am truly interested in…
Why in the world would you sign up for USI Tech. I was approached and when I listened to it I could tell in 2 minutes it was a scam.
Came home and googled a few things. I mean seriously anyone could figure this out in a couple of minutes. I really am truly curious.
I’m very sorry you have lost money on this.
As of today now Jan 10 I’m unable to do withdrawal. I try but never receive the validation code needed to attempt withdrawal. Mine from Friday Jan 5 still pending.
It seemed ok at first. I knew it was temporary but didn’t expect it to collapse already.
Thought I had 4-6 more months. Hard lesson to learn. Lost alot.
So Larry, you became an affiliate with the intention of recruiting others, while thinking it would end 4-5 months later?
(Ozedit: citation required)
If you’re going to post marketing spam that makes claims different to what is actually happening, cite your source or leave that garbage on Facebook.
I have not seen any official news about them ever paying anyone in USA. I think we just lost our Bitcoin. It’s gone. That’s my opinion.
@Larry: You most likely did not have/own bitcoin. You bought a product (BTC Package) that was to earn you bitcoin daily.
Either way, USI has just made off with hundreds of millions of dollars from US/Canadian customers.
Aside from victim shaming as many on this site like to do; what do you think can/will be done to find the owners? They are all very public.
007-700. Yes I did own my own Bitcoin and put it into USI-TECH. That was my first and biggest mistake. Could of made nice profit just holding it for few months as price claimed.
As far as the owners unless a large group of people got together as class action suit nothing will happen. But who would pay the attorney fees etc. We know they have upcoming events in other countries.
@Larry: I’m sorry to hear this happened to you. I hope they lock those guys up…
Something tells me they will continue to rip people off in other counties until the whole thing collapses.
From what I’ve seen online, especially social media there are a lot of folks censoring the forums for people speaking out… they want to shield people from the truth and are unwilling to see what’s going on for what it is.
I would advise anyone reading this who can, to start withdrawing as much as possible, as quickly as possible.
007-700. Sounds great in theory. But do you personally know of anyone that has requested and received a withdrawal that was initiated on or after Jan 6 or 7th??
Some people claim that they submitted withdrawal on Jan 5 after announcement and received their Bitcoin in outside wallet. But has anyone really received a payment to an outside wallet that was initiated after Jan 6??
I.dont know of anyone. Yes you can request a withdrawal but will you get the money?? That’s the big question. Im trying to do withdrawal only pending 4 days now. So ????
@Larry : You are right… I believe members have been trying to pull out BTC and they simply go to Pending and never actually withdraw successfully: you are right.
I’m saying for members outside of the US/Canada who haven’t seen the writing on the wall yet, they should start pulling out as much as they can, as fast as they can. All signs point to a collapse at this point.
007-700. I agree. I believe it’s already happening but only limited number of overseas member are heeding the warnings.
If everyone in USI-Tech is an affiliate, then there are no victims…… Oz, you have mentioned victims many times, so how do you distinguish a victim from a perpetrator.
That’s some messed up Ponzi logic there.
If you lose money in a Ponzi scheme you’re classified a net-loser. That makes you a victim in the eyes of the law.
And yeah, even stupid victims who deserve ridicule are still victims.
Perpetrators are those running the company. Net-winners are Ponzi participants who made money.
Both perpetrators and net-winners are scammers.
The attorney fees are not the problem, I’m pretty sure “no win no fee” lawyers exist in the US.
The problem is that you can either a) sue the top of the pyramid, whose money will be safely stashed away in Dubai or Ukraine, and where your chances of getting the local courts to enforce a US judgment are close to nil.
Or b) sue your upline, who is less likely to be clever enough to have moved their money offshore, and even if they also lost money (or made very little), they may well have a house in the US or something else they can be forced to sell.
Problem with b) is there will be at least a dozen other people below them who want to sue, maybe even a hundred or more, and their house isn’t going to go very far across the lot of you, especially once you deduct legal costs.
A class action suit is the last thing any failed USI Tech scammer wants. A class action suit is for when you have a target with lots of money, and by suing en masse you increase your chances of success without lowering the potential payout.
USI Tech scammers have very little money that is recoverable via the US court system, and roping another plaintiff in does not change your chances of success but does lower your potential payout.
That’s like saying nobody in the Matrix are victims. The fact that you don’t know you’re a victim doesn’t mean you aren’t one.
Furthermore, in Ponzi schemes, net winners took money from the net losers. The net losers just don’t know it yet, believing some bogus numbers on a computer screen about “returns”.
Again, the fact that you don’t know if you’re a victim or not doesn’t preclude you from being one. Your ignorance of facts is just that… ignorance.
So then – to be a victim you have to be a loser.
There is no in between?
You have people that seek these schemes out just to profit.
some win some lose.
I am just trying to figure out – Why would ignorance be an excuse for scamming?
Why would being a member that happened to profit some make you a winner.
The root of the problem – the same company is still the scamming scheme no matter who wins or takes a loss.
Just being part of the scheme at any level makes you a scammer in my book.
Ignorance doesn’t make you any less guilty of scamming.
Some just happen to profit and others don’t.
Legally speaking, yes.
Because by definition a net-winner is a participant that made money scamming others.
Ponzi victims can be scammers, the two aren’t mutually exclusive.
Rather than the legal route, I would favour a class action group asking the Hells Angels groups in certain countries to do them a small favour.
People have had withdrawals pending for days. Everyone can still request, doesn’t mean it’ll happen.
In fact, upon emailing USI they refuse to say anything regarding withdrawals because they “don’t want to give false info”. Exactly the words they write.
Also, they rewrote the US/Canada changes. Maybe you should read again so you are more accurate in the messages you put out there.
Right you are correct. I Know on no one in USA that has requested and recieved a withdrawal in last few days. Mine and everyone else is pending only.
I just got a reply from help desk saying just wait and they should clear. My guess is they didn’t notice I’m from USA.
All of this back and forth analysis are GREAT.
BUT… You only need to know one fact.
“The Owners” have not called the USA Master Distributors yet.
Not a call or a returned call. PERIOD. Party’s OVER. (As of Saturday 1/13/18, 1:00 PM EST)
Looks like it’s about time for the “leaders” to return the commissions they (and you?) have earned off their friends and family back to their rightful owners.
I’m sure every $100 in commissions are now worth $250-500 in bitcoin depending when they were suckered into this.
It would seem only right since these fine people (“leaders”) they trusted talked them into this blatant Ponzi scheme.
I would guess most of these “customers” wouldn’t have signed up for the scam had they not been talked into this by trusted people blinded by the greed of getting commissions off friends/family.
I don’t get it. Don’t you know that if they don’t return our bitcoin it’s a breach of contract and we can pursue litigation to get our assets back?
No court in the world is going to acknowledge a Ponzi scheme contract. That goes both ways (when USI-Tech threatens to sue affiliates).
Pursue them where? The mail box they rented in Dubai? Good luck with that.
I haven’t read their Terms of Service but I’ll bet you they reserved the right to terminate anyone for any reason and keep their money. Not that that would stand up in court but just to remind you, USI fled the entire North American continent to avoid stepping foot inside a court room so again, pursue them where?
USI Tech is an evolved, prehensile financial predator. They have studied the failures of previous schemes and by failures I don’t mean the inevitable boom bust ponzi cycle, that is a mathematical certainty.
By failure I do mean operating in a legal jurisdiction that will actually do something about your fraud. USI Tech can and will throw each and every one of their affiliates in the affected areas overboard to abandon such jurisdictions.
Just ask the US and Canada. So again, pursue them where?
We’ll put Glimdropper. We as individuals have no chance of getting a cent back ever if they company just closes . We have no option
lol. try getting any invested money back from the hustler gangsta rodney burton!
on jan 12th he was partying in a penthouse in las vegas with his ‘security guy’ in tow. got to get past his bodyguard to ask for your money back!
as burton recently commented on FB:
partying with burton were his fellow usi tech scammers frank calabro jr and jamison palmer among others.
they were in las vegas to plan their next ponzi venture now that usi tech is dead in the US and canada and are promising a great new scam for 2018.
some affiliates who watched this party video on rodney burton’s FB page were dumbfounded, but there is not an iota of regret or shame from these career scammers:
and to rub some salt in the wounds of his victims, rodney buton was showing off his shiny new expensive designer shoes he bought recently in london with his usi tech stolen money.
and he was flashing his expensive watch saying: i cant even see the time, it’s too icy!
^^that’s a diamond studded watch people, so you know where your money went.
So what you are trying to tell me is the guilt isn’t totally crushing them inside and they are doing what they can to put on a brave front?
Actually Zeek Rewards victims, the ones who participated in the court ordered receivership claims process are going to see better than 80 cents on the dollars of their proven losses returned to them. But Zeek Rewards was a US based company answering to US law.
You’ll see scads of ponzi pimps decrying the US and it’s laws and the Lord knows we ain’t perfect but the reason the pimps hate the US is because between State and Federal agencies, the US is not a good place to run a ponzi scheme.
USI Tech will be an interesting test case. As mentioned above due to the heavy handed regulatory overreach of the Zeek Rewards receivership it’s victims will be made 80+% whole. What % of the funds US and Canadian USI members invested will be returned to them?
Remember this the next time someone pitching you on one of these schemes tells you “it’s offshore and out of reach from US regulation.” If someone “offshore and out of reach” steals your money then you money is gone. No recourse.
i’m saying they don’t give two shits about scamming people and are already on to their new scam.
no guilt, no putting on a brave front, they’re just partying and celebrating the beginning of their new scam.
get out of their way, mug with them or get mugged! that’s their motto.
Why not go after your upline?
Assuming you’re not an upline yourself because you had enough conscience not to recruit someone else’s money into something without extreme due diligence; and there were plenty of reports exposing USI-Tech to consider.
I mean it’s one thing to risk one’s own money, but a whole other level to involve and encourage someone else so one can profit.
I’d love to see a precedent holding direct upline accountable. I think people would think twice before recruiting others in the future.
if it makes anyone feel better.. we were only supposed to invest what we were willing to loose. its all gone folks!! time to go back to work.
Yeah, that’s not how the law works.
Do we have a class-action lawsuit coming against USI then? I have around 30k into it. THis is so wrong.
Good luck. But which country do you think you are going to file in????
Wallet’s are MIA now. Heard word people are initiating a class action suit.
Where and against whom ???
Anyone noticed wallet balances no longer available to view, but daily payout accruing ON SCREEN.
The USI-TECH software creator apparently calling the whole thing az fraud right here…..
I feel so sorry for any person that lost money in this USI deal… I hope someway you all will be compensated…
The USI-USA facebook page recently posted and said they have to close down to remain “compliant” (seriously they said that). They also deleted every other old post and evidence the page ever existed.
Maybe they are worried about a public forum where the people will realize and discuss how they have been had by the Master Distributor who was in this scam from the beginning with the owners, and other top people in the Ponzi.
The owners paid out the main promoters/distributors bonuses daily, who in turn cashed out their bonuses in bitcoin, while convincing others to “rebuy” and not cash out, so they could keep cashing out huge amounts daily and keep the Ponzi scheme running longer.
If anyone thinks the promoters/upline didn’t make a fortune in this. I have a new company you are going to love. It’s called Bitconnect….oh wait, I mean DavorCoin
Dan Hunt took down his facebook pictures yesterday of the Hunt and Frost families taking their Panama trip a couple weeks ago on your sign up bonuses. Partners in crime, partners in travel.
I wonder why they would take down the pictures of the Panama trip, unless they want people to believe they didn’t make a fortune on USI tech (and your backs), and that there is no reason to try going after recovering that money in court, since you have no chance recovering anything with Jicha, Severino, Kiefer, Gold.
I sincerely wish the thousands scammed by the USA promoters the best of luck in recovering their money, but these career MLM scammers knew what they were doing and have been planning this exit strategy with your money for almost a year. Now is the part they say they got taken too. Good luck.
Forget the class action. Just pay the Hell’s Angels to deal with the Fab 4 and the Master Distributors in each territory.
I will lay odds they will never do it again and it will be much cheaper and sorted in a very quick time period
I was going to pen a writeup then I realized he’s saying they’re not using his forex software to generate bitcoin package ROIs.
That’s fair enough, the company claims to generate ROIs through mining. Not enough to go on IMO (they claim they generate the bitcoin ROI through mining).
USI Tech’s latest announcement, delivered not by Founders or Administrators, but by Affiliate Leaders!
Just gets better and better ?
the BTC package ponzi scheme is dead! long live [for a shortish time] the techcoin ponzi scheme!
USI has disappeared from the top eth miner… next phase of their exit? Or did they just rent that pool for two months?
the usi tech website was down for while. affiliates still have packs/balances missing, payments are random and frustration among affiliates is increasing.
with the owners in hiding, the usi tech affiliate group ‘digital tycoons’ headed by michael faust is claiming to be in touch with the owners and are dispensing information mainly to the tune of – be patient and everything will be alright by magic!
most affiliates are having none of it:
meanwhile, alexa continues to chart the decline of usi tech:
soon sharon james and michel faust and john smith etc will have to find some other ponzi because i don’t think there’s any meat left for these rats to gnaw on in usi tech.
i think they should avoid any crypto related ponzi in their new scam career for 2018 as i think this niche is overdone and overexposed now.
c’mon ponzi guys, give us a fresh new idea. what’s the Next Big Thing you can build a scam around?
lol lol lol
micheal faust and his team ‘digital tycoons’ are shitting their pants as they are being perceived as the ‘mouthpiece’ of the USI tech management-in-hiding.
so now they’re stepping back:
clearly, they are trying to distance themselves from the management of usi tech, so don’t be shocked if in a short while digital tycoons starts focusing more and more on their ‘other business interests’ and usi tech fades out from their memory and FB page.
Also funny you cant join the group unless you buy 12 packs 36 hours form one of their members lol.
In other news, the back office HTML Script generated! Now all that needs to be added is a WITHDRAWEL button.
I sunk a tiny amount with these idiots and thought I could beat the clock. Sneaky sneaky and boy were they shit canned Fast.
Stay tuned for the next episode of…Where in the world is Ralf Gold lmao.
John smith the ponzi fucker from the uk is telling everyone that the Bitfinex wallet is USITECHS. Such BS.
You think they’d officially said that if it was the case. So bloody dumb.
horst jicha reappeared yesterday in a live interview with john smith where he also claimed the bitfinex wallet is usi tech’s.
he says he asked their mining pool supplier to change the wallet for ‘security reasons’, but with the wallet changed the ‘transparency’ is lost. so he asked the supplier – WTF? and the supplier said – WTF dude, you asked me change the wallet you didn’t say nothing about transparency?! – and so that’s that.
so, just believe horst jicha that the wallet is usi tech’s and the mining is going on as usual. and also believe that the bitcoin secret contract mining is going on in secret and soon they’ll be the top ten in the world.
but you know what? all this heavy duty coin mining is requiring a lot of long term funding, plus those cheating greedy USA affiliates abused the usi tech system sooo much that usi tech’s ‘reserve funds’ have been severely damaged.
so usi tech will stop paying package re-buy commissions.
however there’s some great news, usi tech is turning USA and canada back on!
yeah, they’re drafting a ‘legal statement’ and with that done, voila! they can restart the US and canada.
i guess the securities commissions of texas and canada can just read the legal statement in the affiliate backoffice and that will shut them up properly!
horst also said ROI payments on the BTC packages of US and canada affiliates will be paid out in a ‘controlled’ way because he doesn’t want them all rushing in and ‘robbing the bank’.
i think this^^ is a load of crock. usi tech affiliates outside the US and canada have been facing payment problems and now horst has himself hinted that ‘reserve funds’ are damaged [read: no money left to payout]. so apart from some showcase ROI payments to a few US and canada affiliates i don’t think any major payments will be made out.
i think this announcement is to soothe US and canada affiliates who may be biting at the heels of their uplines.
with ‘reserve funds’ low, how long usi tech will pay BTC ROI to the rest of the world is also suspect.
so now, horst is pimping the techcoin and it’s amazing whitepaper and ecosystem and the usual blah we hear from all the crypto MLM scams these days.
nothing worth wasting time over.
USI TECH, Bitconnect and CoinXL all share the same HQ Address and Dubai Registration number. Did you all know that?
Horst, Ralf Gold, Mike whatever you can run but you can’t hide from karma. You all gonna pay for whatcha did. It’s gonna be a sad end for all three.
But Dan and Patti hunt. The North American Dist. Two stupid arrogant f%$ks The law is gonna come for them and it will be fun watching them go down.
More like Digital Tykes, eh?
The local leaders are trying to think of their own exit strategy as this cannot end well. The “masterminds” already left the building (like Elvis) and now the judas goats are holding the fort. (Yes, I know I’m mixing metaphors and expressions here).
Enjoy peering over your shoulder everywhere you go for the rest of your life.
Hi, I write from Italy, yesterday after 14 days of pending I received the payment. It seems that now the withdrawal times are these.
I have to say since my last post I have come around to your way of thinking.
Every time I ask when I can withdraw my money they tell me there is a technical issue, worded in really shitty English. These guys are so full of lies I can’t take it anymore.
In your experience should I just forget about my investment? Any chance of getting it back or just move on? Thanks-
I was doing my daily USITECH research and found this. Can someone take a look and tel me what it means?
Its says USITECH at the bottom… etherscan.io/block/5038561
ExtraData is a 32-byte field the sender can input anything into.
That transaction could have something to do with USI-Tech, it might not.
It started mining ETH 20 days ago and so far has only made two 416.918 ETH transactions out. One is being held in the transferred account and the other was sent to the Bitfinex exchange.
I checked the old usitech minging data and it has the same “USI Tech (Hex:0x5553492054656368)” info too. Maybe theey’re renting another miner?
This is the listed miner “0x441d463D69cB6eAA851Eb6138c3eFAC95c86D17B” i cant figure it out.
Could be. They need something for affiliates to post on Facebook, US regulators are killing it.
Rent another Chinese ETH miner for a few days, “Hay look guyz! We were totally mining ethereum since day 1!”.
Weren’t they promising bitcoin mining transparency by now? And still waiting for trading transparency since June, 2017.
And this address only has usitechs old mining info and the new miner listed before everything goes to bitfinfex.
Aha! The block was mined by ethermine.
And if you click the uncles ta USITECH is one of the uncles on the transaction.
The mining address checks out at #22 on etherscan.io 0.0896% of the total. That certainly wont be paying any bills….
Recently i initiated BTC withdrawal on USI-Tech on Feb 10 but up to now it is still showing pending.
Im wondering how could they publish that withdrawal will only require 24 hrs for them to complete and they left me here waiting for 2 days already …im writing from Qatar by the way.
I had 10 withdraws pending as of 12/31/2017 then they took away the back office.
The amount of withdraws I had and the amount of BTC i wound up with when the back office returned doesn’t add up. The fact that they have 24 hour delays for security is why i gave up on these clowns for good.
I know a guy that spoke to the North American Distributor about this Patti Hunt and she went on and on how great it was that they were protecting our coins blah blah blah. She is both complicit in this and not too bright. Because she thought she had answered him fine.
He said really so by delaying our withdraws 24 hours and calculating a transaction fee that might not be optimal in 24 or 48 or 96 hours. This was back in early Dec mind you when fees were skyrocketing. it just shows how unqualified this idiots were.
But anyway he said. So let me get this straight you think that by just delaying a withdraw that saves you? What if you don’t see the mail sent to you, and you didn’t initiate it what stops the btc from going to a crook?
Nothing, he just gets as annoyed as everyone else but he gets your btc anyway.
The real way everyone else does it is to have an email sent immediately that lets you confirm it was you. That way you dont get into the situation they got into on Dec 5 & 6 when they were sending transactions to the blockchain that were woefully under valued.
Considering the amount of people using USI Tech who knows maybe their incompetence played a part in the slowdown and rising fees??
You know what she said to him. Patti Hunt. when he told me I said this one should go to jail for this. She said. If all you are going to do is complain and cause trouble after I just explained to you why they are doing this maybe you should go do something else. Maybe this isn’t for you.. !! And he said he would have loved to but the B%#$Ch had his money!!!
It’s against the American Constitution for the authorities to go for key distributors, at least that’s how it looks. Wouldn’t it send a terrific message to everyone if they actually did.
The Hunt’s knew exactly what they were involved in, which is why they were involved in it in the first place. When signing people up at events all over the USA they were showing their back offices making withdrawals of over 2 bitcoins daily (split with partner David Frost), posting pictures traveling all over the world on Facebook on their downlines commissions.
After pocketing potentially millions you would think they would feel some type of guilt, but that’s not how scammers work. They will continue to get away with it because the brainwashed people still believe they couldn’t have been this dumb, that it is a great business!
And now by not going after them in court, the ones who were conned now allow thousands of future victims, in a future scam to be repeated by these thieves. I”m sure a high percentage will still buy the ICO if they can!
Where does it say in the constitution that you can’t go after distributors? I never heard of that.
I thought founders created distributors to take the fall for them in these situations. Thanks.
I invested 40k in December into usi-tec a so called friend signed me up, what a cunt!!
He is as bad as usi-tec, no wonder my friend was so keen to sign me up, he was getting commissions, who does that to friends, a total scum bag.
Anyway the cash is gone, have to deal with it!!
You can not hear anything from MIKE KIEFER (Switzerland and Brazil), one of the founders and supervisors of USI. Has he already dropped off, as in all networks before?
low life scammers the lot of them and i hope they rot in hell!!!
how do I access my funds. can someone please advise to my email.
No idea about your email but you can’t access your USI-Tech funds.
You invested in a Ponzi scheme and now your money is gone. It was stolen by USI-Tech’s owners and top investors. Sorry for your loss.
How are you getting money out? The website for USI is offline and they do not respond to any attempt at communication using old email support addresses?
Note the date of JD’s comment, Jan 2018. USI-Tech has long-since collapsed since then.
Sorry for your loss.