Published on August 25, 2017
Our ICO was already launched two weeks ago. These two weeks came with many unforeseen events, as you probably noticed. However, we are still here and we will remain here for a long time, if not forever. In this statement, we will discuss the problems we have faced in the past two weeks and the solutions we have implemented for solving these pitfalls. We will also update you on several important points, on our predictions for the weeks to come and on upcoming events for transparency purposes.
What we are doing now is revolutionary and does not exist anywhere else. Giving you private Bitcoin, Ethereum and Litecoin addresses linked to your PlexCoin account and exchanging real-time purchases in PlexCoin is not a technology that exists elsewhere at this time. It is a new technology that completely prevents fraud or cryptocurrency theft risks. Several ICOs have been robbed. It is your money that was stolen. It is important to protect it effectively.
Displaying a single Bitcoin, Ethereum, Litecoin, or other cryptocurrency address in an ICO channels the entire value in one place. It is therefore very attractive for hackers to attack this address. As soon as your virtual currency reaches PlexCoin, it is automatically exchanged to its real-time value. Your PlexCoin are then transferred to your private PlexCoin/Ethereum wallet, and the cryptocurrency that you used to purchase these PlexCoin is transferred to a coldwallet and is protected from threats.
We operate the same way for payments by credit card, debit card or Paypal. Some of you will say that they have already seen the credit card payment option in other ICOs. These ICOs are small, therefore their transactions go unnoticed by credit companies or by PayPal. As soon as the volume of transactions increases, the account is noticed and suspended. We will come back to that later in this statement.
We thank you for your encouragement and for the support that you are showing us since the very beginning of this adventure. We also thank all the people who did not believe in us and who changed their mind along the way. Our most grateful acknowledgement goes to those who believed in us since the very beginning. Your energy is magnificent and motivates the entire PlexCorps team.
History of the issues and solutions
August 6, 13h00 GMT
The whole team is ready and is excited to finally launch a project that will change the financial world.
August 6, 14h00 GMT
Launch of our ICO and launch of the Bitcoin, Ethereum and credit card payment options.
August 6, 15h00 GMT
Due to the high number of credit card transactions, our supplier has virtually rejected all transactions. We then post a warning message on Facebook.
Solution: We communicate with our supplier and we change some of the safety rules. An hour and a half later, credit card payments work well again.
August 7, 1h00 GMT
Our credit card payment provider receives an anonymous complaint from people who have created a Reddit page in order to shut us down and cause us as much damage as possible without valuable motives.
Therefore, our supplier decides to cancel our credit card payment service.
August 7, 2h00 GMT
Our Bitcoin servers are slowed down. There are too many incoming transactions and the service becomes very slow.
Solution: We increase the resources dedicated to Bitcoin transactions and the problem is quickly fixed.
August 7, 12h00 GMT
We already reached the point of no return. The pre-sale starts off very well, although we still do not accept credit cards. Meanwhile, our team is negotiating with PayPal to offer the card payment option again as soon as possible.
August 7, 18h00 GMT
PayPal payments work again. We continue our tools’ assessment and we publish on Facebook to keep you informed of the developments.
August 8, 12h00 GMT
Our main website is attacked by the group that wants to shut us down. Many complaints are filed to our registrar. We receive over 2 000 emails per hour. Our team is overwhelmed!
Solution: We switch our DNS addresses to the plexcoin.org domain. The page comes back online, but the .com domain remains shut down.
August 8, 18h00 GMT
The plexcoin.com domain is back online.
August 8, 21h00 GMT
We decide to extend the presale by a week because of the problems encountered during the last days and to allow people to buy some PlexCoin.
August 9, 11h00 GMT
Another attack on the plexcoin.com and plexcoin.org websites occurs. Several complaints are filed to our registrar. Our two domains are suspended.
Solution: We switch our DNS addresses to the plexcoin.tech domain, which is hosted by another registrar. We post a message on Facebook to invite people to visit plexcoin.tech.
August 9, 19h00 GMT
PayPal payments are available again.
August 9, 21h00 GMT
We had problems with missing Bitcoin addresses on some clients’ accounts. This issue is fixed and the missing addresses are distributed.
August 10, 1h00 GMT
PayPal receives complaints from the group that is doing everything to shut us down and decides to suspend our account to carry out assessments.
Solution: After negotiating with Paypal for hours and realizing that there would be no agreement, we decided to refund all the people who paid by this means and compensate them by depositing 100 PlexCoin in their account.
August 10, 13h00 GMT
We implement a unique encryption system that uses a portion of your private PlexCoin address to encrypt your email address, your password and your wallet. Security is very important to us. That's why we invented a new type of encryption system based on your private virtual currency address, so it is undecryptable.
August 10, 20h00 GMT
Plexcoin.com is back online after long negotiations with our registrar.
August 11, 9h00 GMT
Our team starts to work on the new payment solution. It will provide more than 15 payment options. This new technology needs to be analyzed, created and assessed. We are confident that with this new offering, we will sell the 400 million PlexCoin before the end of the pre-sale.
August 11, 19h00 GMT
More than 100 000 members support our project. We have the much needed motivation to continue our progression.
August 14, 9h00 GMT
A few days passed without encountering any problem. We develop the new payment option, and improve our structure and customer access at the same time.
August 14, 20h00 GMT
We release a form to report issues regarding transactions. We select people from the team who will dedicate themselves to solving the problems and to reply to the messages regarding that matter.
August 15, 19h00 GMT
The Litecoin payment option is functional.
August 15, 20h00 GMT
All the pending Bitcoin transactions are now approved. The next ones will automatically be approved according to the blockchain status.
August 15, 21h00 GMT
The 100 PLX bonuses for reimbursed PayPal transactions are distributed.
August 15, 22h00 GMT
All the pending Ethereum transactions are approved. From then on, they will automatically be approved according to the blockchain status.
August 22, 20h00 GMT
All the purchased PlexCoin are distributed to the members’ private addresses. PlexCoin officially exists from this moment on. People officially possess the PlexCoin that they bought.
As time goes by, the issues become less serious. We announced several good news over the past days. It is important to inform you of any change, problem or implemented solution when an issue occurs. Although we know that many customers are unhappy when we encounter problems, it is our duty to inform you about everything that is going on at PlexCoin.
Please note that Facebook is the platform we currently use to keep our members updated. We are working on the development of a blog and of a service status and server status platform. We plan to come out on several social networks soon.
Other general issues
Other general issues
Due to the high number of members and the problems encountered in the last weeks, our customer service team could not reply to all the messages.
Solution: We have expanded the customer service team, set up an automatic email sorting system, reactivated the Facebook Messenger service, added a form to report issues regarding transactions, and created standardized responses to speed up the response delay.
Transaction icons on your client access
The orange clock means that your transaction has been received. Your PlexCoin are reserved and they are in your account, but the transaction is not yet confirmed. For Ethereum and Litecoin transactions, depending on the blockchain load, confirmation can take up to 12 hours, but usually takes 15 minutes. Bitcoin transactions can be confirmed in as long as 48 hours, but generally confirm within two hours. For payments by credit cards, debit cards or PayPal, the delay is of 45 days because according to the law, you have up to 45 days to request a refund with these payment options. If the transaction is approved, we will distribute your PlexCoin. If you requested a refund from your bank before this time and we would have distributed your PlexCoin, you would get your money back and we would have no way of recovering our PlexCoin since it would already be in your private wallet. Therefore, this measure is taken to avoid fraud and abuse, and to protect PlexCoin’s value.
Transaction bonuses are added to your account when your transaction is approved (green checkmark).
The PlexCoin are distributed in your private wallet when your transaction is approved (green checkmark).
All bonuses will be distributed at the end of the pre-sale, as they come from another PlexCoin wallet (the one reserved for bonuses).
The green checkmark means that your transaction is processed and confirmed.
The blue star shows that you have received some bonus PlexCoin.
Red circle with a diagonal line
This icon indicates that your transaction was denied or cancelled. Your payment did not make it through or the amount was refunded. The PlexCoin were removed from your account.
We received more than 800 transaction issue reports in a few days, and more than half of the forms were reported twice or more. We first sorted out the requests and then distributed the requests to our IT team, which fixes the transactions one by one. There have been no new transaction issues for a few days. The wait is now coming to an end. We have corrected exactly 82% of all transaction issues as of now.
Any error that caused transaction problems was corrected several days ago.
We removed the exclusion clause from our terms and conditions because it caused a lot of confusion. Instead, we've added a clause that invites you to review the laws of your country before purchasing PlexCoin.
On your customer access, in the card purchase section, there is a countdown that indicates the time remaining before your private purchase date by card. This countdown is implemented according to the registration order of our members so that the first people who registered to the pre-sale have the chance to buy by card in priority. We will allow 500 people per hour to buy with our new payment option, from September 5, 20h00 GMT. This is not to overload our new payment system.
From your date and time of purchase on, you can buy at any time and the number of times you want.
Next weeks’ forecast
The card payment option is the most requested one on social networks and we talk about it unceasingly. PlexCoin’s mission is to facilitate access to cryptocurrencies. We must provide the card payment option.
We thus developed a user-friendly system that gives you the option to buy PlexCoin without limits of transaction number or of purchase amounts.
This option will also be available on the PlexWallet.
Our option will come with no boundaries, unlike other platforms that limit purchases to $ 100 or $ 200. You may buy for $ 100 000.00 if you want.
Advertising is currently paused. We want to complete the development of our technologies, provide card payment options and reactivate the .com domain before relaunching advertisement.
Advertising will be resumed as soon as we decide that it is possible to welcome new members.
When the pre-sale comes to the end, we will have a few days to distribute the bonuses. You will then receive your private key in order to sell, exchange and transfer your PlexCoin. You will also be asked to enable the double authentication on your account to protect your money.
You will then be able to sell, to buy or to trade your PlexCoin from the PlexWallet. We will be on coinmarketcap.com, so you will be able to follow the evolution PlexCoin’s value. The first external exchange platform that we will be on is Bittrex. Others will follow in a timely manner.
Currently, all bonuses have a lock at their right. You will soon be able to check if your transactions total at least US $ 100. Those who meet this requirement will see the lock disappear. Their bonus PlexCoin will then be available. They will be transferred to your private wallet at the end of the pre-sale.
Anyone who has accumulated bonus PlexCoin but who will not have purchased more than US $ 100 before the end of the pre-sale will lose their bonus. These will be deposited in the main PlexCoin bonus wallet.
Over the next days, the ranking of buyers who will be eligible for one of the PlexCards will be indicated on the client access. We will notify you when this is online. Please note that the people who will receive the Platinium Member and Helper Member cards have already been determined, as these cards are distributed to those who bought first.
The ranking for the Ultimate Member card is changing all the time. You will soon see your position on the list. You will be able to try to make it among the 500 top buyers, thus receive this unique card that will offer incredible advantages.
Delay before the end of the presale
As mentioned in one of our latest publications on Facebook, we will extend the pre-sale by around 14 days. This number of days will be exactly the same number of days you will have waited before accessing the card payment. We want to respect our commitment to let you 30 days to buy your PlexCoin by having access to all our payment options.
Currently, plexcorps.com, plexcoin.com and plexcoin.org are all hosted by the same registrar. They were suspended because according to the registrar’s terms and conditions, they do not accept customers who offer cryptocurrency.
It was a detail that we did not notice when we moved our domains to this place. It must be said that the complaints made on Reddit did not help us.
We are therefore waiting patiently for the date when we can transfer our domains elsewhere to reactivate them. We can already tell you that plexcorps.com will be transferred early next week, so it will officially be back online.
The delay will be slightly longer for plexcoin.com and plexcoin.org. There will be two weeks of wait before they can be transferred. After that, the .com will return, and we will close the other temporary domains (.org and .tech).
It is then just a matter of time.
We currently sold more than 20 000 000 PlexCoin. The three quarters of these were sold in the first days. We are aware that the sales slowed down due to the problems we faced and the limited payment options we are currently offering. We are bouncing back, and we are preparing a fantastic relaunch plan.
A combination of solidity, transparency, card payments and advertising will ensure that we will sell the 400 million PlexCoin. We are confident. We will continually develop and improve our products. Our motivation comes from your support and our dream of changing the financial world.
Did you know? When you buy a coffee with your credit card, the money goes through more than ten vendors before arriving in the merchant's pockets. Each provider takes its percentage of profit, and your money is transferred more than ten times before being deposited into the beneficiary's account.
When you make a transaction with the PlexCard, there is no third party. The money will be deposited directly into the merchant's account. The transaction will therefore be safer, will involve much less fees and will be totally confidential.
We bet to those who have already followed ICOs other than PlexCoin that they have never seen so much action in such a short time! We make a lot of noise with our unusual methods. Many people have written articles and blog posts about us, and have gone to great lengths to create us a reputation of frauds and thieves. They have no evidence of that, except that we are different. However, the tide is turning. People who did not believe in us at first come to see us in public and in private to apologize and encourage us.
To help us, and to help increase the value of your PlexCoin, it would be nice if you take the time to go on the forums or blogs that slander us to express your point of view and show your confidence in PlexCoin to the world.
When most of the negative articles about us were written, we had not yet distributed our white paper. Our methods were already different from all other known ICOs. We understand that this has raised some questions, but we do not understand that people immediately defamed us without evidence.
For the past two weeks, we have carried out several actions that clearly prove that we are here for the right reasons. We are constantly progressing.
Finally, we work hard to outpace Bitcoin. We aim to release the next global currency that can be used everywhere and that will be accepted by every business in the world. PlexCoin is not only a virtual currency, it is also a card, a wallet and a bank!
We work for you, and we ask you to work for us. Let's turn the financial world inside out. Share your experience with others to erase the bad reputation that critics have attempted to establish for us.
We often thank you, but it will never be enough to equal your trust in our project. Over the next two weeks, many things will change. You will see the sale levels go up and the PlexCoin sell rapidly. We will build a great relationship with people who did not trust us at first. We will shine, and PlexCoin’s value will increase.
We will be on coinmarketcap. Card payments will be available. We will launch our Spanish website. The official plexcoin.com domain will be back. We will set up the last details so that the end of our pre-sale runs effortlessly.
We appreciate that you took the time to read this statement. Should you have any question, please contact our team at firstname.lastname@example.org.
Have a great weekend everybody!
The PlexCorps team
Copyright © 2017 PlexCoin - All Rights Reserved.