The project had big potential from the start aiming to become the world’s reserve currency. There were 2 stages of ICO. 1st was unsuccessful, and the team claimed that “European bank” bought the “rest of coins”. This was not confirmed ever. Even though, it was 2017 and crypto was hyping, so no one really paid attention then, and the 2nd ICO round started with almost no marketing involved. MNX made it to several low level exchanges. The main exchange was Livecoin, also they negotiating with HitBTC but for some reason they didn’t integrate MNX properly. As further research showed, Minexcoin didn’t pay the rest of the listing fee. HitBTC was unusable for MNX. Minexcoin team failed to deliver the roadmap from the start. The only working product they had is MinexBank (for staking MNX and receiving interest). To cope with decent exchanges absence Minexcoin team decided to create Instabuy – a simplified version of Changelly. Users give their crypto to Minexcoin and buy MNX from them. In two years team was not able to deliver a decent desktop MinexWallet, MinexMerchant, MinexPlatform… and moreover, decentralized computer as a cherry on top. Minexcoin team also failed in delivering the low-volatility as was claimed in a Whitepaper, which was taken down. As soon as community started to rant and worry about the future of the project, team decided to change the direction – and started to work on crypto debit cards, which turned out to be another scammy move towards community. Not a surprise that team failed to deliver crypto credit cards and was accused in scamming users as delivery was postponed for almost 6 months, though some solution was found – unbranded random cards registered as a corporate cards and, as a result, almost unusable. The price of MNX went down from ~25$ to 0.3 cents and constantly decreases. From internal sources it is known that no developers left in the team, as well as no marketing and the company was not paying salaries due to scarce resources. In this bitcointalk thread all the issues discussed, including the personality of CEO who has several court cases in other spheres of business: https://bitcointalk.org/index.php?topic=1847292.0
Is Minexcoin a Scam?
Disclaimer: Minexcoin Cryptocurrency | Minexcoin ICO
Minexcoin is a cryptocurrency project that issued Minexcoin tokens to its community. Scams in the cryptocurrency space take form in many ways, including exit scams or undedicated project developments.
Is Minexcoin a Scam ICO?
Data on whether Minexcoin conducted a scam ICO, a scam mining operation, or a scam masternode project is cited above from external sources and CoinCurb does not take responsibility for claims against Minexcoin or in support of Minexcoin. The data is only an aggregation of claims cited against Minexcoin.
The above claims about Minexcoin (ICO), Minexcoin’s token, or Minexcoin’s team are externally sourced. They may claim that:
– Minexcoin did an ICO and then exit scammed
– Minexcoin has an undedicated project development after the Minexcoin ICO
– Minexcoin token got pumped and dumped by the Minexcoin team
– Minexcoin is a dead project with a worthless Minexcoin token
However, external claims about Minexcoin project, Minexcoin token, Minexcoin team, or even Minexcoin advisors may not be supported by accusers of Minexcoin ecosystem and thus individuals seeking to learn more Minexcoin team or about the Minexcoin cryptocurrency are recommended to directly contact Minexcoin team members or Minexcoin token investors.
CoinCurb does not itself decide if a project is a scam and thus does not claim Minexcoin is an exit scam or that Minexcoin is any other type of scam, nor does CoinCurb insinuate that Minexcoin (or Minexcoin token) team are scammers or that Minexcoin (or Minexcoin token) advisors are scammers. CoinCurb allows viewers to reference sources related to Minexcoin development, Minexcoin token trading, and/or Minexcoin team as an uncertain reference when deciding if Minexcoin is a scam or Minexcoin is not a scam.