CoinsPaid Responds to False Claims by Mastercoin LLC
17 September, Tallinn, Estonia – CoinsPaid has become aware of false and fraudulent statements being made by Mastercoin LLC. In its communications to investors, Mastercoin LLC has alleged that it cannot fulfil withdrawal obligations due to supposed payment freezes by CoinsPaid. In addition, Mastercoin LLC has circulated forged and falsified screenshots, falsely attributing emails to CoinsPaid representatives.
After conducting a thorough internal investigation, CoinsPaid can confirm that no such correspondence was ever issued by our team. The so-called “evidence” presented by Mastercoin LLC is entirely fabricated. Moreover, CoinsPaid emphasizes that Mastercoin LLC has never been a CoinsPaid client, nor has it ever even applied or attempted to establish a client relationship with us. CoinsPaid regards Mastercoin LLC’s actions as a deliberate act of fraudulent misrepresentation and document forgery. Any claims to the contrary are false and damaging.
In recent days, end-users of Mastercoin LLC’s platform have contacted CoinsPaid directly, believing our company to be involved in their withdrawal issues. CoinsPaid regrets that these individuals have been misled, but reiterates that it has no relationship with Mastercoin LLC and bears no responsibility for its business practices, operations, activities, or failures.
Unfortunately, this is not the first time fraudulent actors have attempted to exploit the reputation of established companies, like CoinsPaid. Certain schemes deliberately mislead investors, audiences, acquire funds, and then fail to return them, while fabricating claims that CoinsPaid is responsible for blocking payments. CoinsPaid has no connection or affiliation whatsoever with such entities, and any such assertions are entirely false, deceptive, and intended to mislead.
We strongly encourage everyone to remain cautious, exercise due diligence, and carefully verify any platform before making financial commitments.
CoinsPaid treats the unauthorized use of its name, brand, and reputation as a matter of the highest severity. The company is actively evaluating all available legal remedies, which may include formal cease-and-desist demands, takedown actions against fraudulent websites, abuse complaints to hosting and domain providers, and criminal reports to law enforcement authorities regarding suspected fraud, forgery, and brand abuse.
As Europe’s leading crypto payment ecosystem, CoinsPaid remains committed to transparency, regulatory compliance, and safeguarding the interests of its clients and partners. We will continue to act decisively to protect our brand, to inform regulators and stakeholders of the facts, and to ensure that any misuse of our name is met with immediate legal and reputational defense.
