Investors from Karatbars International were lured into a recovery fraud using the Acura Wellington brand back in June.
Regardless of what Acura Wellington was, it is no longer. Karatbars International has recently been relaunched as MineBase by Harald Seiz.
I haven’t personally seen the email, but from what I gather, investors in Karatbars International received it recently.
The email informed them that their remaining V999 tokens had been exchanged for MBASE tokens.
Further instructions were given to Karatbars affiliates to use their Karatbars International login information to access MineBase’s website.
MineBase is installed on the “minebase.com” domain, which was initially registered in 2014.
On July 2, 2022, the private registration was last updated. The website for MineBase launched on or around August 11th, therefore Seiz appears to have purchased the domain back in July.
Update: August 16, 2022. On May 1st, 2022, Karatbars International GmbH registered the domain name “minebase.io,” from which MineBase also runs. ends updating
Seiz is identified as “Dr. H.C. H.K. Seiz” on MineBase’s website under the “our team” heading.
Really, “Project generator”? I’m not sure if this is an effort to downplay Seiz’s role, elevate him to a more significant position, or both.
Although I’m not an expert on names, it appears that the remainder of the MineBase crew is from the same area.
Although MineBase has only been active for a short time, the firm falsely claims it has been around since 2017.
Greetings from Minebase. This project was inspired by a preexisting circumstance. When there was no regulation of cryptocurrencies in 2017, it all began.
At that time, making a currency with gold backing was the main objective. The regulator revised the legislation in 2018.
A Stabel token could only be listed under new rules. As a result, the project was unable to proceed. Finding a solution was essential to me as an entrepreneur.
It has taken me more than three years to complete. We examined the whole cryptocurrency industry after I engaged several experts to help.
If it seems familiar, it’s probably because it is Harald Seiz’s pathetic attempt to justify the collapse of Karatbars’ KGC crypto Ponzi scheme.
Josip Heit, the board chairman of Karatbars, left to start his own G999 shitcoin Ponzi, thus Seiz tried to restart Karatbars’ crypto Ponzi using V999.
Yes, despite how silly it all seems, it is what happened.
Apart from a breakdown in late 2020 and two unsuccessful reboots (Lifebase and an undisclosed project), V999 was a complete failure, and Seiz kept a low profile.
We now have MineBase because it appears Seiz may be cash-strapped.
No profit is earned on the CTP in this case because the tokens are produced from the numerous fees that have already been paid.
I want to thank the individuals who trusted me by completing this job successfully since that is my top priority.
As a result, 45,000,000 extra tokens were given out altogether.
MBASE is an algorithmic stablecoin, as far as I can tell (*crypto jargon trigger warning*).
The following tool is used six months after the MBASE is listed on an exchange.
Smart contracts are used to assess the market. 0.025% of the tokens that haven’t been activated are burnt if the token drops by 10% or more.
Since the most costly tokens will be burnt by the CTP (see algorithm list), the value of the token will be drastically reduced.
A token purchased through the CTP ultimately costs $793,041.08. When these are burned, the overall supply is drastically reduced.
The MBASE is now available for nine instead of 10 euros. within the Exchange. The CTP system still has 100 million tokens available. 25,000,000 tokens (100,000,000 – 0.025%).
The token has a CTP value of 793,041.08. These tokens are burnt permanently. There may now only be 249.75 million MBASE tokens.
It is now well acknowledged that any algorithmically managed token or currency would eventually collapse after Terra and Luna collapsed back in May.
The rest is dull and has nothing to do with Karatbars investors asking how to get their money back, so I won’t delve into it.
Since the website for MineBase frequently mentions etherscan, I’m presuming MBASE is an ERC-20 shittoken. MBASE is a smart contract that has no logical marketing and is tied to it.
(Warning: crypto bullshit trigger)
So you are correct about MBASE, which is reportedly produced by exchange fees unrelated to MBASE.
The Bitcoin network, the decentralized top 20 exchanges, and an app that allows for the creation of these tokens create them rather than sell them.
“Creative Token Production,” or CTP, is this nonsense.
The user must deposit a minimum of 10 Minebase tokens. A wallet address will be automatically assigned to the user for 72 hours.
The user will receive a credit for all costs that are incurred by this wallet. The user will receive a Minebase token whenever this wallet hits $6.50 (the current cost for creating tokens). The wallet address is automatically changed after 72 hours.
You can receive up to 20 wallet addresses from the whole cryptocurrency market, depending on the number of tokens you deposit.
You will get up to 45 times the value of your wallet address fee as indicated in the table when the CTP price increases.
“The table” is the “CTP Algorithm Table” in MineBase. The beginning price of an MBASE token is $6.50, and using some algorithm, it becomes $793,041.08.
Oh, and if none of that was enough to send you to sleep, you can also download an app to your phone that will award you MBASE for every 6 kilometers you travel:
One MBASE token will be produced if you walk six kilometers (3.728 miles) while using your smartphone.
The MBASE token is generated more quickly the quicker you walk (or maybe even jog).
You will be sent a code as soon as your balance reaches $6.50. The MBASE token is yours after you enter this code in your back office.
You may also install some other worthless program that will only gradually produce MBASE if you don’t want to walk, drive, or use public transportation for the 6 km distance:
The MBASE may be made with this program.
Starting costs for the MBASE CTP are $6.50. 4% of these $6.50, or $0.26, are credited to the MBASE Wallet every hour.
The process of creating CTP comes to an end when one MBASE is attained. There is a code visible. This code needs to be added to Minebase’s wallet. Done.
So how does Karatbars International fit into this nonsense?
The plan is to convert the V999 of the Karatbars victim to MBASE. They can take the MBASE or simply cash out.
What can I cash out?
Yes, there is where everything fails. You can use some algorithm nonsense to change the internal value of MBASE. It won’t endure long until MBASE is surely dumped on stock exchanges.
About a year and a half were the lengths of the Terra/Luna algo Ponzi scam. When naive investors spent billions, they essentially lost everything.
Some shady MLM Ponzi currency, stuffed with bagholders for victims, that nobody outside the Ponzi cares about… I would advise you to perform the work, but the math is absurd, to begin with.
It is impossible to predict with certainty when MBASE will collapse.
I do know that one of the most stupid cryptocurrency ventures I’ve seen is called MineBase. Discuss a solution without conflict.
Sincerely, why does a token need to exist if its fictitious value is tied to transaction fees that have nothing to do with it?
If you received the Karatbars email and are reading this, please share your experience in the comments below. V999 is already dead, so I know many of you will sign up because there is nothing to lose as long as you don’t give them any more cash.
MineBase’s website refers to staking, thus this might eventually turn into your standard shitcoin staking Ponzi scheme (as Terra/Luna did).
I have no clue if MineBase has an MLM element; nothing about it is indicated on the website.
Update: August 16, 2022. It appears that Karatbars’ MLM business model has been reduced to single-level commissions according to MineBase.
This is from the user agreement for MineBase:
Everyone who forwards a suggestion will get tokens thanks to Minebase’s compensation mechanism.
This indicates that the referrer earns a 10% fee in tokens for each new token issued.
These are added immediately to the Minebase account of the referrer. There are several prerequisites to meet to get the token.
With this, Karatbars International’s status as an MLM business will be terminated.
Update #2: On August 16, 2022, MineBase is most likely a Russian Karatbars recovery fraud unless we receive proof to the contrary.
Update: August 17, 2022. Harald Seiz announced his participation in MineBase through an Instagram post on August 17.
Many unanswered questions remain. Where the victims of Karatbars will want to withdraw their money is the main concern.