I just got off reading a few RSS FEEDS more updates from a few other forums and blogs, including in IRC chat room in regard to cointellect.com changes lately. It is clear now that cointellect.com are doing a lot of manual manipulation to each individual accounts and users or group of users. In addition to the requirement of verification for most if not all, seems like all now today for new account getting created, or could also be from the same IP address or existing IP address. Bottom line, cointellect.com lied about earning up to 10EUR then verification would be required.

The verification process required your personal information, including matching home address with the credit card #. Who knows what cointellect.com can do with your information, but it’s obvious anyone have your credit card they can use it to buy virtual things on the internet and commit crime easily. It is also possible to buy stuff from amazon ebay and so on but get it shipped to a different address that does not belong to you.

The voice is getting louder each day in regard to cointellect.com scam, it’s much more likely to fall apart sooner than they have expected. Here are a few things people are voicing.

1. Verification of credit card now required for all new account. The sad thing is that cointellect.com allow you to create the account, and mine with your computer or CPU GPU ASIC whatever. However when you try to withdraw your earning, verification requirement kicked in and most people don’t have credit card to verify, there go there earning. Whether you earned 1EUR or 100EUR, if you don’t verify your account with a valid credit card, it’s not also guaranteed cointellect will pay you afterward either because they’re not obligated to do so. Cointellect is not a regulated real company. It is just like coingeneration.com and many other HYIP out there scamming people.
2. Your earning will get adjusted nightly. One time you logged in with earning of 2EUR, but when you’re ready to withdraw your earning, you logged back in and you only see 0.19EUR, yes that’s the truth, and people are reporting of this issue now. Especially for those that already mined and made over 10EUR, most likely their earning starting from this point get fluctuated, some day you don’t even have earning enough to withdraw. The sad thing is people are mining, paying electricity bill, but getting scammed by cointellect.com stolen all the earnings or got reversed.
3. News update. Ah this famous news update, just like coingeneration.com written in a professional manner, but all lies, exaggeration, making up stories to motivate people. The scheme they’re using works effectively, people are believing and falling for the news update to stay motivated. On top of that, some of the referrers are now the scammer in addition to cointellect.com. Cointellect.com paid 10% commission for referrers to refers new victims. The sad thing is the referrers does not care, because as long as he/she making big commission 10% from the victims refers to cointellect to scam. Very sad! some referrers even speaks on behalf or on cointellect side because of the scam that make them money is all they care, the referrers don’t care who the victims are, whether it’s their relative family members friends or the poor.
4. Multiple accounts. Ah this one, yes. Some say the reason cointellect enforce verification on new account because of this issue where a person creates hundreds of accounts? ERR! WRONG!!!! This is not what cointellect said in the verification requirement. They said it’s to avoid bots LOL, ok! 🙂 Either way, this is not right. Because the members of cointellect are mining with a separate computer, legitimate CPU, GPU ASIC, whether it’s different IP or same IP, they’re mining it with hardware, but guess what? cointellect let them mine but when the member try to withdraw earnings, surprise!!!!!!!!!! verification required for all your account, and you cannot use one credit card for all accounts. There go all your earnings, cointellect.com took your earning, stole it to be exact. Nothing you can do about it. This is addition to earnings get manually adjusted reduced right before earning withdrawal time.

Now some folks even talks about reporting cointellect.com to the local officials due to suspicious activities. I think it’s ok to do so, but a better approach might be to find out the root, or parent company that sponsor cointellect.com and contact them, try to move up to see if the parent company will do anything about it, if the parent company even exist. Coingeneration.com similar scam, actually it was $30 not 10EUR you can make, and 20% commission suck you in 1 year contract making money. Stay tuned folks. More to come on exposing cointellect.com scam.