Beware! SolidVentures has stopped paying! Do not invest there!

Hi everyone! As we slowly approach the end of another working week there’s one new short term addition to the MNO monitoring page where the admin seems quite determined to make very popular considering the amount of advertising he’s putting around at the moment. It’s called SolidVentures and it’s a fairly straight forward game that I think a lot of HYIP players might like if they’re looking for some fast profits but at the same time something that can be sustained for a reasonable number of cycles and give more of you a chance to try your luck. By the way, SolidVentures already has a fairly lengthy payments record but I wouldn’t get carried away with that just yet. I want to look into their other main features first but I’ll come back to this point at the end.

But first the investment plan. Well, there’s really not much to say here as it’s quite simple and couldn’t really be any easier. SolidVentures only offer one plan, and it’s the very same no matter how much you’re looking to spend. But basically it works something like this:
You can join SolidVentures for a minimum deposit of $10. In fact you are free to spend anything up to a maximum of $50,000 if you feel that way inclined. Regardless of what size principal you are playing with though, the plan runs for 6 business days and during that time SolidVentures are offering to pay you back 20% interest on your deposit every day from Monday to Friday. At the end of the term you will not be receiving your principal back as that has already been factored into your payments, so you should be able to earn a total of 120% back on your investment – that’s your own money back plus 20% net profit.

To put that in a more practical way, let’s say you were to invest $100. For that SolidVentures would pay you back $20 per day for six business days, allowing you to break even on day number five and receive your final payment which constitutes your profit on the last day bringing your total earnings to $120. After that it’s up to yourself to either take the money and run or try your luck for another cycle.

At the time of writing I have to say that the choice of payment options in SolidVentures is poor enough, though the admin promises that will change pretty soon. For now you’ve only got LibertyReserve and PerfectMoney. We are assured that payments would be made instantly after the simple matter of logging into your SolidVentures account and making the request. So far this has not been the case I have to say as none of mine were instant yet. Perhaps they are when the admin is online, but I myself have not seen one. In fact the FAQ suggests you may have to wait a maximum of 72 hours for the transaction to be completed.

Just beware of one thing you will notice if joining SolidVentures. You will see buttons for SolidTrustPay and AlertPay/Payza, and even be able to include your account numbers on your SolidVentures profile. You will not however be allowed to deposit via these payment processors, and I must say it really is very misleading and looks a bit amateurish. The admin says he should have STP and Payza added within a week or two so you can wait for that to happen before joining if you want, I just don’t see why their logos have to be added before members are allowed to start using them.

The SolidVentures Website is running off a script that’s under license from GoldCoders and is SSL encrypted as certified by GlobalSSL for safer browsing and more secure transactions. Hosting is provided by Koddos on a dedicated server, though they themselves are not the ones providing protection from DDoS attacks. According to the admin he has an arrangement with a company called Vistnet for taking care of this. I myself can’t say I’ve come across them before but the admin seems pleased with it anyway. Should you need to contact him by the way for any further questions you have or account related issues then SolidVentures can be reached either directly at the e-mail address provided or else by filling in your details in the electronic ticketing form and submitting it online. Also listed is a postal address though nothing to suggest this is anything other than a hosted virtual office and not where you would find the actual admin of SolidVentures (in fact I’d bet almost anything that’s the case!).

Incidentally, getting back to the point I was making at the top of the page one other thing that should be noted about SolidVentures is that according to the main HYIP related forums they started almost four months ago, though there’s almost zero further activity until just about two weeks ago. This is actually a common enough tactic in the HYIP industry, aimed largely at the newbies it has to be said, though with hundreds or thousands of programs coming and going on a constant basis even more experienced users might get caught out, as obviously no one can keep track of everything that goes on in the industry. But what happens is this – HYI programs are set up and then very discretely announced in a very low-key manner on forums, and possibly one or two monitors. Then, while not actually closing, they are deliberately kept away from the public eye. Months later they are suddenly being discussed all over the place and advertised heavily, a big deal being made out their enormous payments record. The trick of course is that there was never more than a handful of investors to begin with (and frankly I’d be surprised if SolidVentures even had that). But anyway, not to go on about it too much but when you’ve been around the industry as long as me you kinda spot these things a mile away. Though I still agree that the huge advertising campaign now underway makes me cautiously optimistic that SolidVentures was planned out well in advance and that the admin is hopefully serious about making a success out of this one. Otherwise the last four months were an embarrassing waste of his time.

One aspect of SolidVentures that didn’t quite see so much work however was the website content, ie the texts. Sorry to say they’ve been copy/pasted from a variety of sources, many of which have appeared on other HYIPs exactly as you see them here. Also included is a certificate of incorporation in the UK, something I know for a fact can be obtained anonymously online at minimal cost, and yes, even if it’s genuine. To be honest it doesn’t mean a whole lot to me personally (it might to you, I don’t know) as the way I would judge the quality of an online HYIP is not by it’s graphics or it’s content but how it pays its members. If SolidVentures can prove it can treat investors fairly, paying them what they are owed and within the agreed schedule they’re fine in my book. Once that stops, well, that’s a different story. But at this point this is generally for the benefit of the industry newbies anyway, as most of you will already know the two most important points to take on board – set yourself a strict spending limit that you can comfortably afford and try, if joining SolidVentures to spread your investments around between a wide and varied portfolio.

DAILY NEWS FROM THE INDUSTRY

BENSONUNION – EXTENDED REFERRAL PROGRAM INTERRUPTS PAYMENTS

I was pleasantly surprised with the efficiency of the support staff of BensonUnion in reacting to some members’ concerns about non-crediting of accounts today. Their plans offer 1.2%-2.45% for 170 business days with principal returned on expiry via LibertyReserve, PerfectMoney and direct Bank wires (read more about that in my review of BensonUnion published here). Ragnar (the admin, interviewed here) told me an error in the script was caused by the extended referral program launched last night and since the script is unique it took them some time to fix it. Here is what he told me:
“Hello!
There was a technical error caused by a newly integrated Extended Referral Program. Our technical department is working on it now and it will be fixed within a few hours. Once it is fixed, we will credit profit for today. Sorry for inconvenience.”

And just a few hours later the issue has been fixed and the accounts have been credited with the usual daily returns as reported on the website of BensonUnion just after that:
“Profit issue has been fixed! Payments are done!
Dear clients! All profit payments have been posted and issue is completely fixed. Stay tuned for next updates from BensonUnion!”

So, the question remains – what was that mysterious Extended referral program that caused the temporary inconvenience to the members of BensonUnion? The project that has been paying successfully for almost four months now recently became very active and I believe it might be connected with some cashflow issues as after the recent 10% bonuses for direct bank wire deposits the administration today is offering some extra referral incentives for those promoters who would bring big investors into the program (with the deposits over $2,500 and over $10,000 respectively) which will be paid on a regular basis in addition to already quite generous 7% commissions. Apparently, this new referral program is aimed to provide BensonUnion with some necessary extra finds to survive summer, as recently the program has started to pay profits to its first investors and it’s vital for them to get some extra funds. I will not be lying to you and saying that BensonUnion is so popular that it will definitely survive the dangerous summer vacation period, but I guess the admin knows how to maintain some certain interest from bigger investors and their big promoters in order to keep his program on top of things. This extended referral program launched yesterday and described further below is supposed to make an impact and bring some big fish into the tank:
“Extended referral program announced!
BensonUnion launched a new thing for active promoters – extended affiliate program. This offer is valid only for deposits done since May 16. If total amount of deposits made by one or all of your referrals exceeds $2,000 you will receive 0.25% more to your own daily interest till the end of investment period. If this amount exceeds $10,000 you will receive 0.40% more to your daily profit from all your investments. New updates coming soon!”

FOREXPROGRESSIVE – BACK TO PAYING STATUS

I’m bringing you some good news here as I didn’t expect myself that this was going to happen – ForexProgressive (reviewed here) resumed instant payouts which made me move the program back to Paying status on MNO monitor tonight. To my surprise, the admin kept his word and started actually crediting the accounts of the investors who lost their earnings due to the huge database loss which happened over the weekend and put the program on the brink of collapse. Unfortunately, there is still no official update regarding this posted on the website, so some members might be still in the dark as to why they can’t login to their accounts in ForexProgressive. For those people I would like to advise to create the account with the same username that you used in ForexProgressive last week or earlier and contact the program’s support with the details of your original deposit. Of course, it is a huge inconvenience for the investors whose deposits were about to expire as they could request their principals back if they were under the old terms in one of the following plans – 1.4% for 20 business days, 1.8% for 24 business days, 2.5% for 28 business days, 3.5% for 32 business days. At the same it’s sort of luck for the admin who would credit the members accounts anew and will pay them only in a month, as he’s obviously saving money from the almost expired before the database crash deposits and only pay interests for the whole month. It might even appear that such database loss might be somehow staged in order to extend the lifetime of ForexProgressive and delay the deposits return. If that is true (which we can’t just put aside), then the admin of the program is certainly an evil genius and that we could expect something similar from him in the future. Anyway, even if you’re impressed with the seemingly miraculous recovery of ForexProgressive think of why the admin didn’t make backups in the first place and whether it was stupid negligence or just a deliberate plan. If you are suspicious just like me, I would suggest to wait for another month before making future deposits in ForexProgressive, as only after the first payments on expiry are done will we be able to say that the program has fully recovered.

VASCOFOREX AND DUOMONEY ON PROBLEM STATUS, PANAMAHEDGEFUND ON WAITING STATUS

Please note that VascoForex is a confirmed scam now and although several members reported instant payouts still processed to PerfectMoney, the ones to LibertyReserve seem to have fully stopped with the admin to remain silent on then issue. I myself was paid really small amount to my PerfectMoney and have already four pending payments to LibertyReserve. It’s unfortunate that the investors cannot exchange the balance they have in VascoForex between the payment processors as it’s not allowed by the script, otherwise they could definitely make LR-PM exchange and be paid for a few more days. The thing that the program has only balance in PM and nothing in LR is really suspicious and makes me think of the possibility of the admin’s LibertyReserve account being compromised and the money stolen. Please note that with the current LibertyReserve security holes which you can read about in the article on MNO blog published here it’s hard to believe that any HYIP offering instant payouts to LibertyReserve is safe enough. So make your own conclusions on the versions of why VascoForex has stopped paying, but do not make new deposits there even if you’re still paid by PM! You’ve been warned!

The second program moved to Problem status on MNO today – DuoMoney – was never reviewed on MNO as it was on Basic list only, but you might see its big banner on my monitoring page where it was displayed until two days ago which was actually signaled to me that DuoMoney was in trouble as the admin usually renewed that banner on a weekly basis with no hesitation. So, that did happen late last night when I failed to make a withdrawal from DuoMoney which otherwise would have been processed instantly and was left with the following message instead:
“THE LIBERTYRESERVE SYSTEM WAS UNABLE TO PERFORM YOUR REQUEST AT THIS TIME.”
I must say that such message was already appeared on the program’s site once and therefore it didn’t alert me much, but after a few hours of unsuccessful withdrawal attempts from DuoMoney and the silence on the admin’s part I realized that any chance on coming back is gone. DuoMoney is a scam now – so please do not invest!

It looks like there’s some issues with instant payments to LibertyReserve from PanamaHedgeFund again. As happened before, payments fail to be completed instantly as they’re supposed to be. The admin doesn’t reply to support tickets, so the situation resembles that of a few weeks ago when he disappeared for a couple of weeks and his program went to Scam status on many monitors. It looks like he didn’t learn anything from the experience as this could spell the end of PanamaHedgeFund. It looks like their LR account could well be empty and the admin has to take drastic action in order to regain his Paying status if that’s what he really wants. I’ll keep them on Waiting and not Problem status until tomorrow to give the admin the benefit of the doubt which he deserves (given his prior weird record), but that will change tomorrow if nothing improves. Further investments in PanamaHedgeFund are not recommended until further notice, so be careful and stay on the safe side!

GET PAID REPORT FOR 17/05/2012

Here is the list of the programs from my monitor that paid me for the last 24 hours:
From MNO Sticky list: ROICredit, SolidVentures.
From MNO Premium list: NewGNi, Royalty7, OneInv, EurexTrade, SilverStructure, ENR-G, ProfitableSunrise, BensonUnion, GeniusVenture, DividendService, SolidForexLtd, FelminaAlliance, PlexCapital, PrimeXCash, MetalROI, ForexProgressive,  GoldenCrux, ProgressIncome.
From MNO Standard list: –
From MNO Basic list: UFOWin, CheeseCash, PerfectLottery, HippoWin.

That’s all the news for today everyone. I hope to see you on my blog tomorrow with all the recent updates and possibly more new programs on my monitor!