alert The fund can't be withdrawal from Epik.com via Masterbucks wallet

[enamebroker]

It happened on 23rd Aug 2022 and this matter lasted almost one month without any process. Masterbucks.com declined my fund withdrawal and disabled the button of fund withdrawal. And I contacted Epik.com and got no further action even if Rob Monster got involved in it for two weeks. All the time I was told in email by management review.

What is wrong with Epik.com? Do you think it is normal to disable fund withdrawal? How can I get back my fund from Epik.com? Thanks for your suggestion.

 

[bmugford]

I think the MAIN issue is funding to run basic registry functions in a timely manner. Transfer-outs don't cost Epik money and will get you in big trouble with ICANN if you block it, so still seems to work (at least I don't see any recently reported issues with it).

When was the last time anyone successfully registered a domain at Epik???
(Where 3rd party WHOIS shows the domain is registered.)

It goes without saying that there are financial issues, but there could be technical issues as well.
They are not mutually exclusive.

Epik is broke. How many people do you think they even have working on the technical side?

Brad

 

[GNP]

Icann may have to step in soon Epik is taking renewal funds, and not renewing. Upon contacting support they say it’s in que, what kind of renewal que lasts over 24 hours?

Sadly there have been multiple reports over the last several months of domains taking WEEKS to register or in some cases, weeks go by and STILL nothing is registered (and Epik just keeps the money and gives "store-credit" instead of a refund).

 

[GNP]

It goes without saying that there are financial issues, but there could be technical issues as well.
They are not mutually exclusive.

Epik is broke. How many people do you think they even have working on the technical side?

Fair question.
Since the current goal of Epik is to seemingly receive & retain as much money as possible...I think they are doing everything possible to keep the technical issues to a minimum.

Based on customer complaints, the website itself seems to function, so long as a customer is NOT trying to get Epik to SPEND any money. If it was "technical" issues, I would expect failures with "free to Epik" operations too, but we don't see reports of those types of issues yet.

 

[jmcc]

Processing the latest ICANN reports now. Just from the .COM report for Epik:
Total .COM : 552,798
New one year regs: 2,436 (all new .COM regs: 2,548)
One year renewals: 23,970 (all .COM renewals: 24,290)
Transfer gains: 1,117
Transfer Losses: 29,449

(Dec 2022 figures: Total: 593,229; New1: 2,746; Renew1: 27,041; TxGain: 1,335, TxLoss: 19,404)

New registrations (one year) have declined. Domains being transferred out are up significantly.

Regards...jmcc

 

[bmugford]

Processing the latest ICANN reports now. Just from the .COM report for Epik:
Total .COM : 552,798
New one year regs: 2,436 (all new .COM regs: 2,548)
One year renewals: 23,970 (all .COM renewals: 24,290)
Transfer gains: 1,117
Transfer Losses: 29,449

(Dec 2022 figures: Total: 593,229; New1: 2,746; Renew1: 27,041; TxGain: 1,335, TxLoss: 19,404)

New registrations (one year) have declined. Domains being transferred out are up significantly.

Regards...jmcc

They have gone from 593,229 to 552,798 .COM registrations.

So they have lost a total of 40,431 domains between reports, or almost 7% of their total .COM registrations?

What date is this report through?

Brad

 

[jmcc]

They have gone from 593,229 to 552,798 .COM registrations.

So they have lost a total of 40,431 domains between reports, or almost 7% of their total .COM registrations?

What date is this report through?

Brad

January 2023 figures. Typically the end of the month figures. The renewals don't precisely align with the same month from previous years but it is the collapse in new registrations and the transfer losses that are the most obvious problems.

These are the January 2022 .COM figures for comparison:
Registrar - Total - New - Renews - TxGain - Txloss
Epik Inc. | 617,146 | 8,272 | 45,564 | 18,338 | 1,666 |

Regards...jmcc

 

[bmugford]

January 2023 figures. Typically the end of the month figures. The renewals don't precisely align with the same month from previous years but it is the collapse in new registrations and the transfer losses that are the most obvious problems.

These are the January 2022 .COM figures for comparison:
Registrar - Total - New - Renews - TxGain - Txloss
Epik Inc. | 617,146 | 8,272 | 45,564 | 18,338 | 1,666 |

Regards...jmcc

So then 617,146 to 552,798 year over year.

That is an 11% drop. Not good.

Brad

 

[jmcc]

So then 617,146 to 552,798 year over year.

That is an 11% drop. Not good.

Brad

The 2022 market is a different one to the 2023 one and there are economic factors affecting most registrars. The problem for Epik is that it is being hit on two sides with the new registrations falling and the increased transfer losses. It is relying on renewals as its main revenue stream at the moment. Mature registrars make most of their money from renewals. The transfer losses are the real problem for Epik. While some of these may have been sales transferring out to other registrars, the bulk appear to be registrants protecting their domain names. With new registrations dropping, transfer losses increasing and fewer transfer gains, Epik has some serious problems.

Regards...jmcc

 

[D Haynes]

The 2022 market is a different one to the 2023 one and there are economic factors affecting most registrars. The problem for Epik is that it is being hit on two sides with the new registrations falling and the increased transfer losses. It is relying on renewals as its main revenue stream at the moment. Mature registrars make most of their money from renewals. The transfer losses are the real problem for Epik. While some of these may have been sales transferring out to other registrars, the bulk appear to be registrants protecting their domain names. With new registrations dropping, transfer losses increasing and fewer transfer gains, Epik has some serious problems.

Regards...jmcc

If renewals are their main priority and they appear to be failing to forfill them, is there any hope for theur survival?

 

[Peak.Domains]

Are there any renewals or new registrations going through at Epik at all? Is it possible ICAAN already took away Epik's ability to do this, or would there have been some sort of public announcement when ICAAN does that?

 

[jmcc]

If renewals are their main priority and they appear to be failing to forfill them, is there any hope for theur survival?

Epik still has a substantial number of registrations and its blended renewal rate on .COM is still quite good. It could survive but it will be very tough. It is the transfer losses that will have most impact because they are taking away potential renewal revenue. It has to get those losses under control. And there's always the problem of ICANN Compliance lurking in the background.

Regards...jmcc

 

[branding]

Epik still has a substantial number of registrations and its blended renewal rate on .COM is still quite good. It could survive but it will be very tough. It is the transfer losses that will have most impact because they are taking away potential renewal revenue. It has to get those losses under control. And there's always the problem of ICANN Compliance lurking in the background.

Regards...jmcc

Now that they stopped selling domains registered elsewhere their transfer gains will suffer as well.

I'm not going to try but is it even possible to transfer domains in at the moment? Anyone?

 

[GNP]

Are there any renewals or new registrations going through at Epik at all?

I would love to know the answer to that too.

Is it possible ICAAN already took away Epik's ability to do this, or would there have been some sort of public announcement when ICAAN does that?

NO chance. The issues Epik are currently having with domain registrations/renewels/transfers are of their own making, most likely due to lack of available funds at the registry(s).

ICANN has to file a compliance complaint letter against the registrar first, give them time to respond, see if they implement the changes they say they will, etc., before they can unilaterally remove their accreditation and seize the registrar.
Anyone interested in seeing what registrar(s) (if any) are currently being investigated by ICANN can go here:
icann. org/compliance/notices <---(remove the space BEFORE the org to get link to work)

Until something shows up there, ICANN has NOT officially started the process to review and/or remove Epik's ICANN certification.

This is why it is VERY important to file a complaint with ICANN if you have REGISTERED and/or RENEWED any gTLD domain(s) at Epik that have taken a week(s) to complete (or never completed). As well as any gTLD domain TRANSFERS (in/out) that have taken WEEKS to complete (or never completed) after the correct auth code was used. Stuff related to ccTLDs, Masterbucks, domain escrow, etc are NOT covered subjects of ICANN agreements (directly at least), but domain registrations, renewals, and transfers (in/out) ARE covered. Here is the link:
icann. org/compliance/complaint <---(remove the space BEFORE the org to get link to work)

 

[GNP]

Now that they stopped selling domains registered elsewhere their transfer gains will suffer as well.

I'm not going to try but is it even possible to transfer domains in at the moment? Anyone?

Considering Epik was allegedly selling domains and NOT transferring the domain(s) to the rightful buyers (but still taking the money), that is probably a moot issue.

I would ASSUME transfers INTO Epik would be subject to the same issues / delays that domain renewals are having.

 

[branding]

Considering Epik was allegedly selling domains and NOT transferring the domain(s) to the rightful buyers (but still taking the money), that is probably a moot issue.

Depending on the scale yes. I'm not sure they actually scammed every single buyer out of their money/domain.

NameLiqidate worked in the same way and I never experienced an issue buying external domains there.

Must admit, I haven't bought anything there for a while as I don't want people getting stuck with some lalaland tokens.

 

[GNP]

If renewals are their main priority and they appear to be failing to forfill them, is there any hope for theur survival?

IF renewals were their MAIN priority, you wouldn't hear customer complaints about it taking WEEKS for the renewals to go through (if they ever go through). There is always a one-in-a-million chance something happens, HOWEVER, if a company can't pay anything out after almost a YEAR on a $327k ESCROW payment, realistically the answer is NO. (Remember according to the lawsuit, the $20k that was paid came from Rob, NOT Epik.)

 

[jmcc]

Now that they stopped selling domains registered elsewhere their transfer gains will suffer as well.

I'm not going to try but is it even possible to transfer domains in at the moment? Anyone?

The inbound transfers (transfer gains) have already declined. The sales side of Epik's business was important. Ordinarily, non-renewed domain names would expire, be deleted and, where they had traffic or value, be caught by dropcatchers. The Nameliquidate approach turned what would be a loss (non-renewal) into a gain for some domain names and if the domain names were valuable, they might have been subsequently renewed. It also created a community of buyers on Epik as a registrar who kept buying. Its value to Epik may not have been immediately obvious to the new management.

Domaining is a process of discovery and speculation. The first renewal rate (domain names that are renewed after their first year) for domain names that are registered and then moved to sales platforms are lower than those for domain names that are developed. Taken in isolation, they will appear to be a bad thing because most don't convert to renewing domain names. The problem with that perception is that the value of a domainer customer for a registrar is not simply in renewals. A domainer will continually register domain names and only renew those that are valuable, flip some of them in the first year and drop most of those that don't sell. A Mom and Pop registrant may register a domain name and then develop a website on it but will often just register the one domain name and keep renewing it.

Theoretically, the Mom and Pop domain name provides nice, predictable revenue. The domainer customer isn't quite as predictable but keeps registering new domain names. Most of these new registrations will not be renewed but those one year registrations will provide one-off revenue. Retail registrars need a mix of registrant types. Monster had marketed Epik as a domainer registrar. That required constant offers and marketing. Take away either of those and registration volume will slow (new registrations/transfer gains).

Regards...jmcc

 

[Derek Peterson]

He got me. He got me good.

epikcrimes.com It is still for sale hours after my purchase.

 

[NicTraders]

So then 617,146 to 552,798 year over year.

That is an 11% drop. Not good.

Brad

Surprising really, that it's not a bit more. I expect a significant increase in the decline over the next couple of reporting periods, given that a lot of people who were 'giving them a chance to sort out the mess' will have finally given up hope and got the heck out of Dodge.

 

[NicTraders]

Just received this email...

Well, their marketing team is certainly working overtime. The patience part is true - you have to have an extreme amount of patience while waiting for domains to be reg'd/renewed, let alone waiting for MB payouts.

 

[Future Sensors]

Just received this email...

Show attachment 236862


Well, their marketing team is certainly working overtime. The patience part is true - you have to have an extreme amount of patience while waiting for domains to be reg'd/renewed, let alone waiting for MB payouts.

That email is just disgusting.

Here's what it means in detail (from another site) -

 

[NicTraders]

That email is just disgusting.

Here's what it means in detail (from another site) -

I wonder if that was posted on Twitter last week, since that seems to be where Brian conducts business these days?...

 

[Future Sensors]

https://support.epik.com/hc/en-us/articles/10754318778523-Expired-Registration-Recovery-Policy

 

[Recons.Com]

This entire situation is odd.

How do you have a company blaming the Chairman, governor, and majority shareholder?
I am not sure how Epik (the company) can take any action without the approval of Rob.

This is like a situation where the minority interests are representing the company in a lawsuit.
Where is their authorization to do that?

I am not sure what happens in situations where you have competing interests in who actually represents a company.

Epik (the company) and Brian Royce have tweeted contradictory claims about Rob's involvement, which likely doesn't help them.

Brad

Think of it this way: if this innovative approach works, it will revolutionize the whole US legal system.

@jberryhill et al will probably scratch their heads for couple of days and then accept the precedence and see how it can be used for the future cases.

 

[GNP]

Surprising really, that it's not a bit more. I expect a significant increase in the decline over the next couple of reporting periods, given that a lot of people who were 'giving them a chance to sort out the mess' will have finally given up hope and got the heck out of Dodge.

If you take the .com NET transfers (incoming MINUS outgoing = result) and then see what % of that registrar's .com domains were lost...Epik had a .com NET transfer LOSS of -28,332 for the month of January (remember data from ICANN is delayed 3 months).

Epik was tied for the 3rd highest loss ratio -- 5.4% --among ALL registrars with 10k+ .com's.
To be honest, they really are tied for 2nd highest loss ratio, since the #1 losing registrar is likely an old Uniregistry registrar with the domains likely being transfered to godaddy registrar(s) (so more like an internal transfer than an external one).

And there were only 22 registrars that had a loss ratio of 2% or higher out of 331 registrars with 10k+ .com's.
-----------------------
If you look at the 47 largest .com registrars (Epik is #47)...
Epik had the biggest loss at 5.4%
another registrar lost 1.3%
another one lost 0.87%
NO other registrar lost more than 0.55%
That means -- on a percentage basis -- in ONLY one month Epik LOST nearly 10x more .com's than the 4th "worst" .com registrar lost!!!