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Tuesday, 21 February 2017

Recyclix with serious banking problems



Recently there has been several members of Recyclix asking on the company's Facebook page why their withdrawals have been delayed, some of them even weeks. Recyclix seems to be unable to make payments through bank wire and also with Bitcoin. Today the company posted this announcement on its Facebook page:



- Yeah, right. Name one legitimate company that works like this! It seems evident that the bank Recyclix was using for paying withdrawals has frozen company's bank account.

Now Recyclix is insisting its victims to send copies of IDs for KYC (Know Your Customer) purposes. I suspect that this maneuver is only to play time while the scam is desperately searching for a new bank account. 

Also ponzi pyramid OneCoin used a dragging KYC process to adjust money flow outwards from the company. OneCoin ended up having at least 17 bank accounts frozen one after another. Stating the obvious, KYC certainly didn't help with keeping the bank accounts.

If Recyclix manages to find a new bank account, the company can use likewise KYC process to further delay withdrawals. This is a must because the scam needs constantly new money to pay the existing investors, and of course that new bank account needs at first some fresh dough to feed some greedy recyclers waiting for their withdrawals.

Here is a screenshots of some members complaining about pending bitcoin withdrawals:


Isn't recycling fun?

More complaints:

I didn't bother to hide Mike Jayer, because it is probably a fake Facebook profile, although he might be a genuine member. At least the moderator takes him seriously.

State-of-the-art recycling plant in Riga. On the Facebook page of Recyclix there is a short introduction: "One of Europe’s leading recycling companies".

Isn't it rather strange that a company bragging about being "one of Europe's leading recycling companies" needs constantly crowd funding to operate?

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