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

Hello all! Plenty of news to report from the industry again today, and busy in general for me at MNO as most likely I’ll have two updates for you tomorrow. But staying with this evening’s update first, I want to begin with a closer look at a new short term HYIP called ProfitaLimited which was just added to my monitoring page. Initially it was on the Basic List there but has since upgraded so I’ll be featuring this and whatever news articles arise from them while they are monitored. Like most programs there’s some things you might think are fine, other things I don’t really see benefiting anyone other than the admin, and all with a certain degree of risk. So let’s see what ProfitaLimited are offering here, and see if there’s something you like.

There’s really only one investment plan available, which is in turn broken down into several variations depending on how much you are prepared to invest. You can join it for a $10 minimum deposit and the term runs for 8 business days, or about a week and a half. During that time ProfitaLimited make daily interest payments from Monday to Friday, with the rate depending on the size of your principal. But from anything starting from the minimum up to a value of $499 it’s going to be 15%. By the time you get your final payment this should add up to 120% in total. ProfitaLimited are factoring your principal into these payments and so will not be returning it on expiry, which means your payments consist of your own money plus 20% net profit.

For anything over $500 the general terms and conditions remain unchanged, with the only difference being an increased rate of 18% for 8 business days. Eight payments later and the total will add up to 144%, and as your principal is included the final return is your own money back plus 44% profit. This rate applies to all deposits up to a maximum value of $999.

Deposits in ProfitaLimited starting from $1,000 up to $2,999 are offered a daily interest payment of 25% for 8 business days. Final return in this case it 200%, principal included, or in other words double your money back.

And for deposits between $3,000 and $4,999 ProfitaLimited offer 30% per day for 8 business days, adding up to 240% in total, principal included. There are another two plans after this one, but as they are even more unlikely to successfully pay what they offer or even attract many investors than this one, it’s enough to say that you can find the details for them inside your ProfitaLimited members area if you are really interested. But just for your information ProfitaLimited‘s maximum allowed deposit is $50,000 and the top rate of interest is 40%.

I would have some mixed feelings about the payment options available in ProfitaLimited, or at least how they stand at the moment. I mean on one hand the choice of payment processor is as good as anything else around at the moment, with this being another program taking all the popular ones right from the start in SolidTrustPay, EgoPay, PerfectMoney, and LibertyReserve. Payments are made manually and so need to be requested from inside your ProfitaLimited member’s account area. All that’s quite good, so you may well wonder where the problem lies.

The thing I don’t like is the payment schedule. Despite ProfitaLimited claiming to have instant payouts, none of my own payments were ever made instantly at all. Never. OK, to be fair there are some perfectly good reasons for switching instant payments off from time to time, but then they go on to say that in the event of payments not being instant you are going to have to wait anything up to a whopping 96 hours for them to be completed. That’s four full days or almost an entire working week. But then you add another 48 hours for the weekend on there, well, draw your own conclusions as to where this is going to lead. Good reasons for switching off instant payments are numerous, like needing to replenish the funds in the account for example, but none of which take 96 hours to address. And when you consider the length of the investment term itself then this really is quite incredible. During the waiting time one presumes ProfitaLimited would of course continue to accept new deposits without too much complaint. But thankfully I haven’t been left waiting that long but I suspect this will only lead to problems at some point.

ProfitaLimited is running off a generic script licensed from GoldCoders. The website is SSL secured and hosting is on a dedicated server with support and protection provided by Koddos. For any further questions, comments, or issues related to your account there then you can get in touch with the admin either by writing directly to the e-mail address provided or else by filling in the online ticketing support form and submitting it.

Incidentally, it’s more than just instant payouts that are misleading about ProfitaLimited. The amount of time the program has been in operation is also a point of some contention. The admin says they’ve been running for the last four months, a claim which I would strongly dispute. I mean there may very well have been a ProfitaLimited website, I don’t know but I wouldn’t argue against it) but if there was a functioning website it was deliberately kept away from public view until being announced on the main HYIP forums just a couple of days ago. This is what you can treat as the real launch date.

There’s only a couple of words on the ProfitaLimited website about any kind of outside business activities, but even that was copy/pasted. So you should all know the risks by now and act accordingly to protect yourselves if pushing ahead with making a deposit. Always keep it to an affordable limit that won’t hurt you if you lost it, and try to spread your investments around between a wide and varied portfolio to protect yourself from heavy losses should any one of them close.

DAILY NEWS FROM THE INDUSTRY

NEWGNI – LIBERTYRESERVE SCRAPPED IN FAVOR OF SOLIDTRUSTPAY

I was not aware of the problems loading the NewGNi website last night during the usual time of processing withdrawals, so obviously they were not able to complete them. Fortunately, the downtime only lasted a few hours and today the website was fully available and all the withdrawals processed to SolidTrustPay, PexPay, EgoPay and PerfectMoney. Every withdrawal request was paid except those to LibertyReserve. Why not you may ask?

Well, let’s start from the beginning as some new readers might not realize how dangerous it is to keep a lot of funds in LibertyReserve accounts. They’ve been highly insecure lately both externally (cases of hacking without actually stealing any private info were described in this article) and internally (seemingly random account blockages and limitations without reason was a subject of discussion in my article published here). The admin of NewGNi Jurgen (interviewed here) also had some issues with LR before and even once totally disabled all deposits while still allowing withdrawals. However it didn’t take him too long to allow deposits and withdrawals via LibertyReserve once again in the hope that no hacking or blocking incidents happen to NewGNi‘s LR account in the future. Well, that was obviously a bad move because today just before making the payouts to LibertyReserve the admin discovered that his account in the system was limited. Apparently it happened exactly the same way it did before with my own LR account and limitations mean that Jurgen could receive funds with no problem while paying funds out is impossible. Jurgen contacted LibertyReserve support to resolve the issue, but as he noticed already there’s very little hope that the account of NewGNi will ever be unlimited and the funds will be released. Take my own LR account – still limited after several weeks and absolutely no assistance from their support. I guess it will be a hard-learnt lesson for Jurgen though he did tell me that due to personal experience with LR he knows perfectly well not to keep money there and that the amount involved was insignificant and should not worry members. Payouts to other payment processors accepted by NewGNi would not be affected.

So what should investors do now and how will they be able to get paid by NewGNi? A temporary solution is to allow members to withdraw their LR funds via an external exchanger built into the script. You can find it in your account area under the Currency Manager tab. For now only one exchange direction is available totally free of charge – from LibertyReserve to your SolidTrustPay balance. All you need to do now is open a SolidTrustPay account (if you don’t have one yet!) and make an exchange of your available LR balance to STP within your account and request it as a withdrawal. Granted it’s an inconvenience but at least LibertyReserve wasn’t able to interfere in the stable work of NewGNi which has been paying successfully for over nine months already and hopefully will be paying for many more months to come. I totally support Jurgen’s decision to totally LibertyReserve as payment processor for both deposits and withdrawals. I mean it’s regrettable that it’s come to this, but the situation is not the fault of NewGNi, its administration, or its members. And with Jurgen’s number one responsibility being the protection and promotion of his business and the interests of the members who make up that business, then it simply had to be done. LR themselves after all didn’t come up with a better alternative, did they?

It’s an inconvenience that I have no doubt NewGNi and its members will overcome, and at the end of the day everyone still gets paid. And that’s why they occupy the #1 spot on MNO’s Premium listing. The full review of their plans paying 1% per business day and 6% per week can be found here.

Please note that due to the server problems with mass email delivery as a direct consequence of the recent downtime you might not have received this official newsletter from NewGNi yet. So please read it carefully and in full below, as it will affect you if you invested in the program via LibertyReserve:

“Newsletter 9 October 2012
Dear clients, friends and fans
Sorry for the downtime yesterday and the related delay in processing your withdrawals. BlockDos once again was on top of the issue and a few hours later NewGNi was up again. According to BlockDos, there was a problem at ‘our server’s back-end’. Since I am not a IT professional, I can’t give you further explanation – but since the downtime was reasonable by all means, I guess it’s nothing we have to worry about.
Anyway, today – or to be more precise just a few minutes back we noticed that our LibertyReserve account was, what they call limited. We are not able to make any transfers from it at all, but incoming transfers are possible.
I thought there must be something wrong at their side, since we have received a few deposits during the day, so I rushed to contact their support department. Unfortunately they were not available, so I searched some forums on this particular topic: Limited account.
What I found out was very disturbing!
It seems that if LibertyReserve is ‘limiting’ accounts – for what ever reason, they are able to receive – but not to process payments, which is a deception first at all, to lure more participants into paying to a limited LibertyReserve account, while their merchants are not able to use the funds at all. Needless to say that we were not informed about any limitation.
I also noticed that there is almost no chance of getting such limited accounts and the funds within those accounts back to work!
For NewGNi it is now the second time, that we’ve encountered serious problems with LibertyReserve within only two months. And this time, we decided, it will be the last time.
As from today NewGNi will not allow LibertyReserve deposits and/or withdrawals at all – and please be assured that this will be now a definite decision.
For the moment we can offer members with active LibertyReserve deposits to withdraw to SolidTrust Pay, without any fees applied. Why SolidTrust Pay? Because it’s currently the only processor that can be easily funded. It shouldn’t be a problem for the majority of our LibertyReserve depositors at all to switch to SolidTrust Pay, since we have noticed that about 80% have listed a SolidTrust Pay account in their account profile.
We might include the other processors in the future as well.
Sorry for delivering you such bad news, but unfortunately things are sometimes out of our control and we need to make decisions that are in the interest of the majority of NewGNi members, while knowing that others might be disappointed by our decisions.
With best regards, Jurgen
Follow NewGNi on Twitter, Facebook and MNO”.

SKYCROWN – ONE MONTH ONLINE AND MNO INTERVIEW COMING

Today members of SkyCrown joined the admin Nick in celebrating their first month online. During this month SkyCrown (reviewed here) managed to become quite a popular choice with investors who saw it climb to the #8 spot on MNO’s Premium list. Paying 3%-3.5% for 50 business days SkyCrown is still a bit away from making profits to the first investors, but I believe the constant improvements the admin is making to his website all the time and the close attention to investors needs will pay off and SkyCrown will continue to grow week after week. As the admin said he expected at least 10 investment cycles to be completed, and though this is quite a bold statement nothing is impossible in this industry with the right attitude, determination and hard work which I believe Nick is ready to commit to. Withdrawals have been processed promptly so far from SkyCrown to all accepted processors – PerfectMoney, EgoPay, PexPay and SolidTrustPay. Unlike NewGNi, Nick was very cautious about accepting LibertyReserve but it didn’t affect the members at all as they can still make a deposit starting from $25 via LR but already get paid via PerfectMoney totally free of charge. This and some other interesting features in SkyCrown are among the interview questions sent to Nick today. His reply is expected soon, so stay tuned for that. Here’s the latest newsletter entirely dedicated to the one month anniversary of SkyCrown which I hope is only the first of many successful months online I wish the program and its investors:

“One Month Anniversary
Dear Members,
It is with great satisfaction that I would like to announce the celebration of our first month online.
During this first month we have grown accustomed to the current market conditions and learnt to pay close attention to our members suggestions and concerns, as this is the most valuable form of insight we can have.
We are very pleased with our current results, while witnessing an unexpected public interest despite the modest advertising campaign still managing to keep growth well under control and ensure a linear and predictable rate of evolution.
Looking back at this past month, I am even more confident in saying that SkyCrown‘s goal extends well beyond the 10 investment cycles horizon I have publicly stated more than once.
Whether if you have a current active investment with us or are still a prospective investor and just opened an account, my advice is to sit back, relax and take as much time as you need until you are accustomed and comfortable with the SkyCrown way of doing business before investing or adding more money to your current investment.
There is no rush, as we are definitely here to stay. We are fully aware that trust takes time to build and that is just what we intend to do. Words are truly meaningful only when backed by hard facts.
In conclusion, I would like to wish you all stress free investing, on behalf of the SkyCrown collective.
Warm Regards, Nick Seltzer
Online Identity Manager
SkyCrown Capital Management”.

PRIMEX7 – THE FIRST SEVEN DAY CYCLE FINISHED

Another newsletter was sent today by the PrimeX7 admin who celebrated the successful completion of the program’s first cycle of 157% after 7 days plan. Other plans in PrimeX7 include 7% for 23 days, 207% after 14 days, 267% after 21 days, 307% after 28 days which anyone can join via EgoPay, SolidTrustPay, LibertyReserve and PerfectMoney. Despite axing the original plan paying 107% after 1 day a few days ago and the following decline in interest toward PrimeX7 the admin sounds very optimistic and promised slow but stable growth for the time being. I would share his opinion that only time will tell for how long the project will survive. So far payments are processed quite fast and I hope it continues for the time being. The latest news from PrimeX7 (originally reviewed here) can be found below:

“Time Will Tell”
Hope you all are doing well.
We have been online now for 9 days and we have just successfully finished our first 7-days cycle.
Although we are growing slowly, we are strong and stable.
As myself always said
“Time will tell”.
PrimeX7 Admin – Blue”.

GET PAID REPORT FOR 09/10/2012

Here is the list of the programs from my monitor that paid me for the last 24 hours:
From MNO Sticky list: SiriusUnion, RoyalUnion, TheMoneyGalaxy, IntraFunds, ProsperaNova, ProfitaLimited.
From MNO Premium list: NewGNi, Finvance, RightFive, ProfitableSunrise, EurexTrade, SkyCrown, PerfectFinance, PipsFund, MonetaryClub, ProfitTrusted, BensonUnion, ROInvest, ForexEarn, UniversalFinance, DiamondAsset, OdoFx, AWTC.
From MNO Standard list: UFOWin, PrimeX7.
From MNO Basic list: 10For25Ads, DepositProfessional, StallionGold, GraceTravels (the first payment received).

That’s all for today, guys. Check out my blog tomorrow for the detailed review of AWTC and the regular daily news and updates at the usual time, but earlier in the day I’ll have an interview with the admin of PipsFund where he talks about his program in his own words. So stay tuned for that and see you all then!