Beware! 6MagicPay has stopped paying! Do not invest there!

Hi everyone! I’m pleased to be writing to you this evening from the beautiful old university city of Cambridge where I’m spending the evening, though of course I still have time for all the day’s main news stories which I’ll get to in just a moment. First however is a program called 6MagicPay which I want to look at in a bit more detail for you. I don’t mind saying from the start I do have some mixed feelings about this one due to a recent incident which I’ll get to shortly, but I also want to try and stick to just the basic facts about the program and what it offers. The choice to join is as always entirely up to you.

The first thing about 6MagicPay is that they prefer to describe themselves as an advertising website, and any “investments” you make there are in fact the purchase of ad packs. The money you get paid back for joining is a payment for viewing the ads of their customers, though this in itself is not exactly compulsory like it might be in say a more traditional autosurf.

The investment plan itself is quite simple, 6MagicPay only having one of them. The minimum cost of joining is $10, and all subsequent deposits must all be made in multiples of $10 which is the price of one ad unit. In other words you can only spend $10, $20, $30, $40 and so on like that, a bit like buying shares. The maximum number of units you may buy is 5,000 which means a $50,000 investment (though let’s just say I don’t see many investors going that far!). The term then runs for 30 calendar days with 6MagicPay paying you back 6% interest every day for the duration. They already factor your initial deposit into these payments so that will not be returned. So by the time the plan expires the hope will be that you get back 180% of your money, or your own money plus 80% net profit. You should reach the break even point after 17 days.

The selection of payment processors is quite good, and as good as anything the program’s competitors offer with all the popular choices listed right from the start. At the moment 6MagicPay are taking deposits through SolidTrustPay, EgoPay, PerfectMoney, and LibertyReserve. Also listed are Payza, who you might remember have more or less bowed out of the HYIP arena since the launch of their subsidiary EgoPay (a link which I believe they inexplicably deny by the way). However if you are concerned about Payza’s new anti HYIP policy and think it can only lead to problems with accounts being blocked/suspended, 6MagicPay apparently get around this by positioning themselves purely as an advertising site. The premise of the whole thing of course is that you are buying advertising units priced at $10 a pop, regardless of whether this is anything you ever intend taking advantage of of course. It remains to be seen whether this is a view shared by Payza themselves. Payouts to members are made manually and will need to be requested from inside your 6MagicPay members account area. Once done the admin requires you allow him up to 24 hours to complete the transaction, but do keep in mind that there is a minimum withdrawal limit of $1 so smaller investors take note.

Ok, so far it’s all pretty simple which is something most HYIP industry players probably won’t mind, but unfortunately what really leaves 6MagicPay down is the website security. Sorry, but it has to be said. Despite an earlier hacking incident where someone who clearly has some personal agenda against the admin was able to take control of the website, nothing seems to have improved here. Without going into too much detail (it’s really not relevant) the hacker in question seems to be accusing the 6MagicPay admin of being responsible for an earlier scam. What evidence he has for this was not made known, so I can only suspect this is based on nothing more than personal opinion, but whatever the motivation behind it the end result of the hack is always the same for the investors. The admin of 6MagicPay has since regained control of the program and assures us it won’t happen again, however the thing is that I can see no obvious improvements to security here at all so I can only assume until proven otherwise that he did nothing more than change passwords in a system that proved easy enough to hack in the first place.

But anyway, the decision is yours. I’ll just describe the facts which are that 6MagicPay is running off a script provided by PHPFlux which has suffered a number of serious security breaches in other online HYIPs recently, and is hosted on a shared server from CloudFlare. The server is also home to several hundred other websites, and when it comes to the HYIP industry this is simply asking for trouble. Apart from that there is also no SSL encryption in place. If you have any further questions about this or any account related issues to discuss then the 6MagicPay admin can be contacted by filling in your details on the online support ticketing form and submitting it.

At this point there is absolutely nothing to get excited about in 6MagicPay. That’s not to say there isn’t some good potential (I mean there’s at least that!) but honestly speaking this admin has a lot more work in front of him, basically what amounts to almost a complete overhaul of the entire program really, if he is ever to achieve anything in this industry.

6MagicPay seem to try and disassociate themselves somewhat from what the rest of us would understand as the online HYIP industry. Their own description of the project taken from their website is of “an online advertising platform that you may use to bring quality traffic to your websites and earn money. You just purchase advertising credits for your websites, and then we pay you to view the advertising of our other members.” However exactly how that’s supposed to make them any different from any other online HYIP is something I myself do not see. I mean it’s pretty clear that incoming money is necessary to pay existing members, because simply viewing ads by itself does nothing to generate an income. So what I’m saying is basically just because 6MagicPay avoid the usual rhetoric used by HYIPs with claims of ForEx trading and so on, it doesn’t mean this is any less of a risk or should be treated any differently from what you might call a regular HYIP. So as is always the case when dealing with anonymous and untraceable figures over the net, always set yourself a sensible spending limit based on how you assess the risk and how much you wouldn’t be bothered by if you lost. And of course if you do decide the risk is worth taking then at least protect yourself from significant losses in one program by keeping your portfolio spread out between a number of different ones.

DAILY NEWS FROM THE INDUSTRY

PIPSFUND – OFF TO A GOOD START

It seems like PipsFund (reviewed here) is off to a very good start, running for over two weeks online paying 2% interest for 120 calendar days with the principal returned on expiry. Deposits start from a $1 minimum via one of the four e-currencies accepted – LibertyReserve, PerfectMoney, SolidTrustPay and EgoPay – and direct bank wires accepted for larger deposits. The program has seen some very positive reviews published by several bloggers and mnnitors, praising the program’s innovative features and fast payouts. The admin of PipsFund looks like a savvy professional who knows what he wants to achieve and how to please the investors. He started a very successful advertising campaign by listing his program on all the popular forums and monitoring sites and even occupied two banner spots on MNO which were paid for two months in advance. In my opinion, it’s a very positive sign indicating the admin’s intentions to run his program for as long as possible. He doesn’t stop there though and there were a couple of campaigns on such social networking site as Facebook launched too. All the advertising efforts resulted in an unprecedented growth of PipsFund in both terms of members with at least one active deposit in the program (over 1,000 members already) and in total amount deposited already (over $30K).

Of course we can’t deny that PipsFund is just a ponzi-game though cleverly disguised as a real investment opportunity, so it might attract even more members unaware of how the HYIP industry works. I believe MNO readers will realize clearly what this means, so please only invest what you can afford to lose. Although the thing that the admin of PipsFund is referring to its alleged business activities in bringing profits to its clients and even takes bank wires starting from $5K should be treated as a very positive sign in the long haul. I feel only positive vibes about PipsFund now which I believe is only getting started and hopefully will brings some good profits to members. Here is the latest newsletter in full:

“PipsFund News
Dear investors,
Approaching two weeks of existence, PipsFund is experiencing very strong and stable growth levels with over $30,000 in total deposits, 1,500 registered members and over 1,000 active investments. Our site has been listed in more than 10 forums, blogs and monitors and our campaigns to advertise PipsFund have barely started. We strongly appreciate those who have been promoting our program; we have paid out over $850 in referral commissions, which means at least 70% of our members were directly referred by someone.
Our trading results for these past two weeks were very positive since our investment capital was increased with your investments and even though we are at a very early stage of this project, the influence of PipsFund begins to positively show in our trading accounts. We are expecting a huge increase in our profits over the next few months if we manage to maintain our current growth levels. For those who are used to Forex trading, our total profit was of about 500 Pips and over 300 of them using USD/GBP pairs as usual. For those not used to these terms, please visit our main page and watch the video explaining what a pip is, it will help you understanding more about the type of business we are into.
One of our main focus in terms of advertising are social medias such as Facebook, our marketing responsible launched a few campaigns to draw attention to our Facebook page and as a result of this campaign, we have over 1,100 likes on our page and almost 100 direct signups coming from that. We will continue our campaigns and expand them to other social medias shortly, they are a way of becoming closer to you, our partners, and, at the same time, promoting our business for people not used to online investments. We want to create a global community on PipsFund and our support team has been trained to deal with beginners and guide them through the entire process of opening an account, funding an e-currency account and collecting profits from our program.
Several members have contacted us about our bank wire transfer option and we would like to clarify that the minimum investment via bank wire is $5,000 and the minimum withdrawal is $1,000. The same rules for e-currency investments apply: compounding is available, you can reinvest using your account balance, you can only get paid by bank wires and your initial investment will be returned at the end of the investment term as usual. We accept bank wires from the entire world and the processing time depends on the bank that issues the transfer, it varies from two to five business days and the same applies for withdrawals.
Our next newsletter will be issued within two weeks, when PipsFund will celebrate its first month online and our goals for the next two weeks is to double the total amount invested and have at least 2,500 registered members and, of course, maintain or even increase our activity rate. Thank you for those who trusted us with their funds and time, your success is a reflection of ours and we will do our best to guarantee the best results for everyone.
Our job is to make you succeed and hard work is the only path that will take us there no matter what we face during our journey.
We wish you all a great week,
PipsFund Administrator”.

FINVANCE – SOME FAQ ANSWERED AND MNO BANNER EXTENDED

There was an interesting update from Finvance today, a program which has slowly crept its way up the MNO rankings until today finding itself in the #2 position on my monitor. I can’t say that’s been entirely a surprise by the way, given the fact that Finvance and its admin Mark (interviewed here) have proved extremely popular among MNO readers, but it is quite remarkable that they have managed to reach such a lofty position after being online for such a relatively short space of time. It’s not yet been two full months since Finvance and their single investment plan of 8% for 20 business days was first reviewed here. Since then the only way is up for Finvance and their meteoric rise to become a solid and dependable industry leader has been unstoppable. As a reflection of this Mark has just extended the Finvance advertising banner on MNO for another three months (longer than the program has been online in the first place!) which to me indicates he has every intention of staying put for as long as humanly possible, and if previous experience in the industry with programs offering similar returns that were managed by capable industry professionals that could yet prove to be a very long time indeed!

So in this latest newsletter to Finvance investors Mark takes the opportunity to address some of the most common questions put to him as an admin over the last couple of months. I think this is probably quite timely and will most likely prove both interesting and helpful to most members. Among the topics covered include the list of payment processors which now includes LibertyReserve, PerfectMoney, SolidTrustPay, and EgoPay. Due to the increasing volatility of LibertyReserve Mark says that he is keeping a watchful eye on the situation there and is thankfully allowing investors who share his concern to exchange their LR balances free of charge. Another important issue addressed is payments themselves. You are reminded that all payouts are made within 24 hours, but not always at the same time every day. Therefore if you were waiting one hour for your first payment, don’t start complaining or panicking all over public forums and monitors if you are waiting six hours for the next one. Please allow the full 24 hours for Finvance to pay you, as the admin is only human and only has two hands like the rest of us. Anyway, there’s a couple of other points there but I think I should leave you read the rest yourself. The full newsletter from Finvance is included below:

“Finvance Newsletter
Dear Clients,
We have reached 4000 active investors today. Thank you for your support of Finvance.
You have taken Finvance to the top of this industry as we go into the fall season and our third cycle.
We would like to discuss several frequently asked questions in this newsletter that we continue to see.
As of right now, we accept four e-currencies, Liberty Reserve, Perfect Money, SolidTrustPay, and EgoPay. We are monitoring Liberty Reserve, but we do offer exchanges from LR to EgoPay and SolidTrustPay to those who are interested. This option is always available and at an even exchange rate of 0%.
Please allow up to 24 hours for any withdrawal request. It is unlikely it will reach that time, but this keeps our support staff from on a daily basis answering support requests asking when are we processing withdrawals. We do not set times for withdrawals.
This leads us into our next question. If you have a request and it has passed 24 hours, more than likely you have incorrect payment account information in your Finvance profile. Please cancel the withdrawal request, fix the account information and then re-submit your withdrawal. We still have about 50 investors who have not fixed their Finvance account profiles to include the correct e-currency account information for withdrawals.
Another frequently asked question, is when is interest applied to my account? Please do not be alarmed if your interest hasn’t been applied to your account the same moment as the day before. This is completely normal and is part of server load protocols we have in place to ensure security and the integrity of our databases.
Our support ticket system should be fully functional once again tomorrow. Thank you for your patience with the maintenance on its system. Until then, as usual you can email us at admin@finvance.com or contact us through the Live Support button.
Finvance.”

BENSONUNION – IMPORTANT WEBINAR REMINDER

As expected the admin of BensonUnion Ragnar (interviewed here) didn’t miss the opportunity to advertise the upcoming second webinar this Thursday where you can get answers to your questions in real-time in a live online conference. This is the kind of opportunity which is very rare in the HYIP market but which BensonUnion being an innovative and very successful program are providing for investors. If you’re going to attend this BensonUnion webinar please share with us on MNO ShoutBox what happened there as I’m not planning to be there myself. For further information on the upcoming webinar please read the following:

“BensonUnion official newsletter
Dear investors! BensonUnion reminds about the upcoming webinar with Ragnar Wellington, the CEO of BensonUnion. The event will last 90-120 minutes and it will be started on Thursday, September 13 2.00 PM Eastern Time (GMT -05.00 timezone). Conference room url: http://anymeeting.com/bensonunion1. Please don’t miss this event! Mr. Wellington will provide answers to all your questions in real-time conference mode. The CEO will also provide a detailed report about everything that happened in BensonUnion for last month + some information about upcoming updates, future plans, new payment options and much more. Just 3 days left! Stay tuned!”

I would like to remind you that BensonUnion was first reviewed on MNO about eight months ago when it first came online (click here to read the original review). The program currently accepts EgoPay, LibertyReserve and PerfectMoney and provides instant payouts on the 1.2%-2.45% for 170 business days with principal returned on expiry. By the way, the first principals are going to expire next week so I’ll report on MNO when I’m receive mine. Hopefully BensonUnion will be able to last even after the first deposits are returned!

6MAGICPAY – REFERRAL CONTEST IS ON

The first referral contest was announced by the admin of the above reviewed program 6MagicPay. The program pays 6% for 30 calendar day to EgoPay, SolidTrustPay, LibertyReserve, Payza or PerfectMoney. The contest will run for a week and the first five winners will be awarded cash prizes as announced in a short newsletter sent today:

“Referral Contest !
Dear Members
Referral Contest started for 1 week 2012-09-10/2012-09-17
Top 5 reward position 150,80,50,30,10
You can find more info in members area!
Good Luck. Rakter”.

ONEINV – PROBLEM STATUS CONFIRMED

It finally happened today that OneInv was officially confirmed to be paying selectively on MNO after being listed on MNO for almost a year. Despite its impressive run with the very low daily interest only the first investors who joined during the first months online were able to see a profit. The admin of the program who also ran EzProfit in the past (click here to find out more about his favored tactics for scamming) constantly uses the same tricks with his other programs, and started offering a so-called Debit Card that don’t exist. But why would he offer it then? The answer is simple – this is a very smart way to silence any investors who are trying now to get their money back from the multiple on-expiry plans that were launched one after another for the last few months and all expired on the same day. So in order to avoid paying members to LibertyReserve or PerfectMoney the admin conveniently invents a story about the necessity to apply for a debit card where members will be paid all the earnings after receiving the debit card in the post to your home address. Obviously these are stalling tactics which are aimed at prolonging the Paying status on the less scrupulous monitors. Selective payments continue but don’t let that mislead you, guys! OneInv is as good as dead at the moment and the admin is not going to pay you or send you this imaginary debit card. Please make sure that you spread the word about this and do not allow bribed monitors to display Paying status for that scam by submitting your bad votes and emailing their admins! Also please post on forums to ensure nobody else gets robbed by OneInv anymore. Note that apart from OneInv the admin is also running PlexCapital which is still on Paying status on MNO but which is definitely going to collapse within the next few weeks as this particular admin always uses the same tricks in all his programs. So I would not recommend joining either OneInv or PlexCapital at the moment. Also note that all future programs from this admin which are easily recognizable to me are banned from being listed on MNO for good. I would like to ensure I have only the best programs listed on my monitor.

INTRODUCTION OF THEBIG5

Speaking of quality programs, I’m glad to introduce another addition to the Premium listing on MNO called TheBig5. This program only launched last night and was straight away added to my monitor. There are many rumors surrounded the program now and expectations are quite high, simply because many things indicate TheBig5 could be the next big project from the admin of Royalty7 and MGFunds which were huge hits and ran for many months bringing huge profits for thousands of investors. So, what makes me think that it must be true and TheBig5 is destined to be big? First of all, it’s the unique script TheBig5 site is running off. The only two programs to use that script in the past were Royalty7 and MGFunds. Second, the choice of payment processors which include all the popular options on the market including PerfectMoney, EgoPay, SolidTrustPay and LibertyReserve. Third, TheBig5 program launched on September, 9 (09.09) while Royalty7 launched on November, 11 last year (11.11). Is it a coincidence or simply the admin believe in “the magic of (lucky) numbers”? Anyway, the investment plans offered by TheBig5 are also very similar to those offered by Royalty7. At the same time they are very lucrative and can put you in profit quite fast. The first plan is paying 5% for 31 calendar days with no principal back on expiry and the second plan pays 114% after 10 calendar days. The minimum investment is $20 and payments are processed within 48 hours of the withdrawal request. The security side of things in TheBig5 is quite good when the program properly SSL-secured by Comodo and hosted on a dedicated server by LiquidWeb with DDoS protection from BlockDos. All in all, the overall first impression about TheBig5 is extremely positive and I will have a look at it in more detail in the upcoming review in a couple of days. Stay tuned for that, guys, and meanwhile please read the welcome message announcing the official launch last night:
“September 09, 2012:
Today we are glad to announce the long anticipated launch of our new online investing site TheBig5. It’s fully operational and available for the general public of investors.”

INTRODUCTION OF CORNWEALTH

The second program to get listed on Premium status on MNO is CornWealth. Being also pretty new CornWealth launched only yesterday and offers two plans with slightly different overall profits, mainly distinguished by the calendar or business days on which the interest is credited to members’ accounts. For the first plan investments start from $10 and you can get 2.8% interest for the duration of 60 calendar days. For the second plan which is more lucrative and shorter than the first one you will get paid between 5% to 8% daily interest depending on the amount invested, but unlike the first plan you will only be paid on business days (Monday-Friday) for the duration of 30 business days which is six weeks. Please note a higher minimum to invest in the business day plan and that the principal is included and is not returned on expiry The choice of payment processors accepted by CornWealth is very impressive and includes all the popular options – PerfectMoney, LibertyReserve, SolidTrustPay and EgoPay. You have to request your earnings manually which the admin promises to pay within 12 business hours. The program is running off a licensed GoldCoders script and is hosted on a shared server by CloudFlare. SSL-encryption is also there. Further details will be in the full review of CornWealth on my blog very soon. Stay tuned for that, guys!

GET PAID REPORT FOR 10/09/2012

Here is the list of the programs from my monitor that paid me for the last 24 hours:
From MNO Sticky list: HourHour.
From MNO Premium list: NewGNi, Finvance, ProfitableSunrise, RightFive, EurexTrade, PlexCapital, YachtWealthClub, MTResults, Bull&BearCapital, BensonUnion, PipsFund, DiamondAsset, PeakPay, TheBig5 (the first payment received).
From MNO Standard list: UFOWin, BGTGroups, 6MagicPay.
From MNO Basic list: GoldTradeFunds, AoGo (the first payment received).

That’s it for now. Stay tuned for more news and another review tomorrow and remember that I work for you and only you, so thanks to all for all your endless support and I hope to see you all back tomorrow!