Is Epik Escrow Safe? Why You Should Avoid Using Epik and Masterbucks

If you have never used Epik Escrow before, you may be wondering – “is Epik Escrow safe?”. It is not a widely known Escrow service, so you are right to be concerned. Epik Escrow has had some very concerning TrustPilot reviews recently, such as this Trustpilot review from Kevin Macpherson, who is owed $237,000 from sale proceeds not paid after selling domain names and websites through the Epik Escrow service. As of 25th October 2022, he has not been paid.

My Experience With Epik

The first time I used Epik escrow to sell a site, everything seemed professional and I was able to get my money through masterbucks. This is why I didn’t bother to do much research when I wanted to use them the second time. And that’s where the problem began.

Unfortunately, I transferred all assets to my buyer before I sensed something strange. I messaged the escrow manager but never got a reply. Then I discovered he is replying my buyer (why wouldn’t he when the buyer is handing them money) but totally ignore me (since I’m the one getting the money). Then I checked online if there is anything wrong and that’s when I came across a fairly big thread on Namepros (I linked below) where dozens of users complain they haven’t been paid. I was devastated. These people are still taking customers without informing them of the current issue. I immediately ask the escrow manager to stop the transaction and refund the money. He refused and went on to send the money to masterbucks and its stuck now.

Domain Name Wire Interview with Brian Royce

Andrew Allemann of Domain Name Wire, recently had an interview with Brian Royce, the new CEO of Epik. The full podcast can be listened to here.

In this podcast, Mr Royce said everyone would be “made whole”, but wasn’t able to clarify whether Escrow funds were safe in their own account. There is a distinct possibility that customer Escrow funds have been co-mingled with general business spending at Epik, which is a severe breach of the fiduciary relationship between Epik and its clients. Would you be comfortable using an Escrow service that doesn’t know whether the Escrow funds from your transaction were in their own account, and not mixed with general day-to-day spending at Epik?

Browsing further Trustpilot reviews suggests that Epik currently owes other clients many hundreds of thousands of dollars, and has not given a date as to when these funds will be paid.

I’m owed $8004.68 at the time of this write-up. And I’m yet to be paid. I was in contact with a journalist who says there are dozens of others with 5 figures tied up in Masterbucks.com.

The DailyDot Picks Up the Story on Epik

On Nov 1, another Journalist who is following the Epik debacle even has more sad news on DailyDot here. As you can see, there is something going on at Epik but they have kept it under, covering it, so new users can be lured into the trap. This company is not user-friendly. I’ve been in correspondence with the writer and another lawyer, who thinks Epik won’t make it and might declare bankruptcy soon. I wouldn’t want my money to go down with them. Even more stories of users Epik is owing can be seen on Namepros here.

Epik vs GoDaddy

I used to think that Godaddy should be avoided because of their practices that is known to all. Except of course, if you want to participate in their action domains. However, now, Epik is far worse. They have malicious intent such as taking in new customers while having issues with paying old customers which seems as though they are running a Ponzi scheme.

Epik vs Escrow.com

The only area where Epik “was” better is offering their escrow service for all countries, offering low fees, and accepting different payment options. Now, they are one of the worst, if not the worst, options you can use for escrow. Aside from their normal escrow fees, they have now added a bunch of other fees that almost feel like daylight robbery. While I haven’t been able to withdraw my money, I paid a whopping $347 for fees. I’m going to pursue this and get my money in full. 

Is Masterbucks Safe?

Currently, it is impossible to withdraw Masterbucks funds to your bank account. Masterbucks went down without warning in September 2022, and only came back online on 10th October, yet many users have still not been paid what they are owed. Therefore, Masterbucks is not safe to use.

Is Epik Escrow Safe to Use?

Since Epik Escrow earnings cannot be withdrawn from Masterbucks, it is currently not safe to use Epik Escrow for your transaction. A more reliable service such as Escrow.com would be more suited to your needs. Escrow.com is also cheaper to use compared with Epik Escrow, and has guaranteed payouts.

Have You Not Been Paid Your Epik Escrow or Masterbucks Earnings?

Currently, a Better Business Bureau investigation is ongoing. Ted Chan, the Chief Strategy Officer of BBB, reached out to clients of Epik that have not been paid, and referred their case to BBB head office for an immediate investigation. The BBB works closely with local, state and federal law enforcement agencies, providing them with valuable information on potential frauds.

Many users have also submitted a case to the Washington State Attorney (you can submit your own case here).

For those owed substantial amounts of money, it is recommended that you contact IC3, a branch of the FBI that deals with internet crime and fraud for immediate investigation.

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