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Moonlite.io


Country South Africa
City Cape Town
Website https://www.moonlite.io/

Moonlite.io Reviews

  • Jun 5, 2019

This Rip Off report is being issued to serve as a permanent record to warn everyone about Moonlite Mining and especially about its CEO and founder, South African national Eric Krige (https://www.linkedin.com/in/eric-krige-0b04bb32/). Moonlite Mining, is being marketed as a large scale CryptoCurrency Bitcoin Mining business based in Iceland, and from November 2017 to March 3018.

Moonlite conducted an ICO to raise funds by selling Moonlite (MNL) tokens to investors in exchange for promises of future dividends to paid out from the supposed Bitcoin mining operation. At the conclusion of the ICO, only 25% of outstanding tokens were sold to a total 400 investors. After one year of observing Eric Krige and Moonlite Mining as an investor.

I am sounding the alarm that Moonlite Mining is a scam and that Eric Krige is using Moonlite as a pump and dump scam operation with no intentions to mine a single bitcoin or pay any dividends to investors. The dumping of tokens have been done initially through the ICO and continues today on the Exchanges and Private OTC transactions.

1. Despite the fact that Moonlite's ICO ended over 1 year ago, no progress in establishing a bitcoin mining operation has been made to date. Normally, setting up an operation of this nature should take no more than 6-8 weeks for a competent mining CEO. More disturbing is that there is no proof that Moonlite Mining exists as a real business.

All requests and demands to prove the legitimacy of Moonlite has been refused by Eric. Specifically, he has refused to provide a business business registration #, proof that the mining facility exists in the form of photos and videos, and other documents such as contracts and purchase agreements. Moreover, Eric refuses to submit to any audits. Any legitimate business and CEO would have no problems providing this type of information. The fact that Eric won't should raise serious alarms and red flags.

2. Eric claims to have raised $31 million dollars, 9 million from 400 retail investors and $22 million from institutional investors. However, there is no proof that any institutional investors invested anything. Secondly, other Mining ICOs that raised similar amounts had 5k to 7k retail investors. Therefore, it is impossible that Moonlite raised 9 million from only 400 retail investors.

The figure is likely to be closer to $1.2 million which is consistent to the The number of investors vs. Amount raised of other mining ICOs. This $1.2 million dollar figure also assumes that Eric converted ICO funds from crypt to fiat upon conclusion of the ICO. Eric is lying about raising $31 million because it gives investors the illusion that the Moonlite is well capitalized. The probable reality is that Eric doesn't have the money that he claims.

3. Eric is never in Iceland and seems to only work and be available during South African business hours only. How can a CEO who supposedly runs a $31 million dollar company that is supposed to be on the verge of starting mining operations in Iceland never be there? Not even once in the past year.

4. Moonlite Mining has no staff and is only comprised of one member which would be Eric himself. How can a $31 million dollar company be run with no employees? The profiles shown on Moonlite's website are also possibly fake (https://www.moonlite.io/). On October 2018, Eric hired a Chief Financial Officer and a Chief Mining Officer both whom quit within 1 -2 months.

The CFO quit because Eric would not show him the company's cash balances and claims that Eric scammed him out of salary. Attached pictures labelled CFO1 to CFO6 detail the former CFOs reasons for resigning. It seems Eric hires people not with the intent of actually starting operations, but because it gives his fraudulant company credibility. Recently, Eric hired Daniel Jonsson (https://www.linkedin.com/in/dfjonsson/) from Eldar Mining to run his mining operations. As of this time, it is unclear whether Daniel is aware of Moonlite being a scam or if he is assisting Eric with this crime.

5. Eric Krige is a compulsive liar who constantly lies about everything . His MO is to tell people what they want to hear without ever showing proof of anything and never follows up on what he promises. Nothing Eric says ever comes to pass or can be verified. The purpose of Eric's lies are to create false hope and FOMO among his investors, and as a way to stall and buy time. It's one lie after another, often to cover up previous lies. A CEO who constantly lies cannot be trusted and should be avoided like the plague. Anyone dealing with Eric Krige as the CEO of Moonlite or in a future business capacity should never believe a word that Eric says.

6. As an extention to point 5, Eric is also possibly using forged and documents and fake pictures. Normally Eric refuses to show any documents, often hiding behind phony Non Disclosure Agreements. Under enormous pressure however, Eric finally after 1 year, provided 2 photos of the supposed mining facility in Iceland in addition to the purchase agreement for miners, and the purchase agreement for the mining facility. However, the photos were actually those of Genesis Mining's facility and the purchase agreements for the miners and facility may possibly be forgeries as there is no way to verify their authenticity. Taking into account Eric's history of fabricating information, no documents that Eric presents should be taken as lawful and legitimate unless verified by a licensed auditor or lawyer or a confirmed governmental source.

C. Conclusion

Moonlite Mining is a scam Bitcoin mining operation that will probably will never mine a single Bitcoin, nor pay a single dividend. It is nothing more than a vehicle for Eric Krige to dump tokens on unsuspecting investors from the various wallets he controls (wallet 1 and 2). Eric does this by artificially creating demand by convincing investors that Moonlite Mining is a legitmate business when in reality Moonlite is a fraud.

Once Eric sells all of his remaining tokens he controls, Eric will look to make an exit. I strongly urge everyone to steer clear of Moonlite and avoid dealing with Eric Krige in any present and future business capacity. If you choose to ignore my warnings, at the very least do not invest your money or engage Eric without absolute verification. Failing to do so will likely result in you being scammed.

As things stand now, the Moonlite project has been a disaster for investors. MNL is the worst performing mining token which has fallen from $1.05 to .002 cent. Essentially, the price of MNL has crashed due to the enormous selling pressure of massive amounts of tokens being dumped by Eric. There is no liquidity either which means never being able to sell MNL tokens, or at a huge loss if you buy them.

Even worse, Eric routinely ignores questions from investors in the MNL telegram chat and bans any who ask him legitimate questions. Things have gotten so bad that Eric has closed off the MNL chat due to not being able to handle demands for transparency. This means that no new investors can join the community which effectively chokes off any new external demand.

Lastly, I have attached pictures to prove Eric is scamming as he was caught red handed attempting to dump tokens on an unsuspecting investor. In January, after the CFO resigned, it caused a big controversy in the crypto mining community. It was at that time Eric tried to accelerate his exit by trying to sell tokens to an unsuspecting fund manager for over 1 million USD in tokens at .20 cents when market price per token at that time was only .005 cents. That is 40x the market value. Fortunately, I was able to intercept this fund manager to prevent the transaction. Please refer to attached pictures labeled eric1 - eric9.

  • Jun 3, 2019

This Rip Off report is being issued to serve as a permanent record to warn everyone about Moonlite Mining and especially about its CEO and founder, South African national Eric Krige (https://www.linkedin.com/in/eric-krige-0b04bb32/). Moonlite Mining, is being marketed as a large scale CryptoCurrency Bitcoin Mining business based in Iceland, and from November 2017 to March 3018.

Moonlite conducted an ICO to raise funds by selling Moonlite (MNL) tokens to investors in exchange for promises of future dividends to paid out from the supposed Bitcoin mining operation. At the conclusion of the ICO, only 25% of outstanding tokens were sold to a total 400 investors. After one year of observing Eric Krige and Moonlite Mining as an investor.

I am sounding the alarm that Moonlite Mining is a scam and that Eric Krige is using Moonlite as a pump and dump scam operation with no intentions to mine a single bitcoin or pay any dividends to investors. The dumping of tokens have been done initially through the ICO and continues today on the Exchanges and Private OTC transactions.

1. Despite the fact that Moonlite's ICO ended over 1 year ago, no progress in establishing a bitcoin mining operation has been made to date. Normally, setting up an operation of this nature should take no more than 6-8 weeks for a competent mining CEO. More disturbing is that there is no proof that Moonlite Mining exists as a real business.

All requests and demands to prove the legitimacy of Moonlite has been refused by Eric. Specifically, he has refused to provide a business business registration #, proof that the mining facility exists in the form of photos and videos, and other documents such as contracts and purchase agreements. Moreover, Eric refuses to submit to any audits. Any legitimate business and CEO would have no problems providing this type of information. The fact that Eric won't should raise serious alarms and red flags.

2. Eric claims to have raised $31 million dollars, 9 million from 400 retail investors and $22 million from institutional investors. However, there is no proof that any institutional investors invested anything. Secondly, other Mining ICOs that raised similar amounts had 5k to 7k retail investors. Therefore, it is impossible that Moonlite raised 9 million from only 400 retail investors.

The figure is likely to be closer to $1.2 million which is consistent to the The number of investors vs. Amount raised of other mining ICOs. This $1.2 million dollar figure also assumes that Eric converted ICO funds from crypt to fiat upon conclusion of the ICO. Eric is lying about raising $31 million because it gives investors the illusion that the Moonlite is well capitalized. The probable reality is that Eric doesn't have the money that he claims.

3. Eric is never in Iceland and seems to only work and be available during South African business hours only. How can a CEO who supposedly runs a $31 million dollar company that is supposed to be on the verge of starting mining operations in Iceland never be there? Not even once in the past year.

4. Moonlite Mining has no staff and is only comprised of one member which would be Eric himself. How can a $31 million dollar company be run with no employees? The profiles shown on Moonlite's website are also possibly fake (https://www.moonlite.io/). On October 2018, Eric hired a Chief Financial Officer and a Chief Mining Officer both whom quit within 1 -2 months.

The CFO quit because Eric would not show him the company's cash balances and claims that Eric scammed him out of salary. Attached pictures labelled CFO1 to CFO6 detail the former CFOs reasons for resigning. It seems Eric hires people not with the intent of actually starting operations, but because it gives his fraudulant company credibility. Recently, Eric hired Daniel Jonsson (https://www.linkedin.com/in/dfjonsson/) from Eldar Mining to run his mining operations. As of this time, it is unclear whether Daniel is aware of Moonlite being a scam or if he is assisting Eric with this crime.

5. Eric Krige is a compulsive liar who constantly lies about everything . His MO is to tell people what they want to hear without ever showing proof of anything and never follows up on what he promises. Nothing Eric says ever comes to pass or can be verified. The purpose of Eric's lies are to create false hope and FOMO among his investors, and as a way to stall and buy time. It's one lie after another, often to cover up previous lies. A CEO who constantly lies cannot be trusted and should be avoided like the plague. Anyone dealing with Eric Krige as the CEO of Moonlite or in a future business capacity should never believe a word that Eric says.

6. As an extention to point 5, Eric is also possibly using forged and documents and fake pictures. Normally Eric refuses to show any documents, often hiding behind phony Non Disclosure Agreements. Under enormous pressure however, Eric finally after 1 year, provided 2 photos of the supposed mining facility in Iceland in addition to the purchase agreement for miners, and the purchase agreement for the mining facility. However, the photos were actually those of Genesis Mining's facility and the purchase agreements for the miners and facility may possibly be forgeries as there is no way to verify their authenticity. Taking into account Eric's history of fabricating information, no documents that Eric presents should be taken as lawful and legitimate unless verified by a licensed auditor or lawyer or a confirmed governmental source.

C. Conclusion

Moonlite Mining is a scam Bitcoin mining operation that will probably will never mine a single Bitcoin, nor pay a single dividend. It is nothing more than a vehicle for Eric Krige to dump tokens on unsuspecting investors from the various wallets he controls (wallet 1 and 2). Eric does this by artificially creating demand by convincing investors that Moonlite Mining is a legitmate business when in reality Moonlite is a fraud.

Once Eric sells all of his remaining tokens he controls, Eric will look to make an exit. I strongly urge everyone to steer clear of Moonlite and avoid dealing with Eric Krige in any present and future business capacity. If you choose to ignore my warnings, at the very least do not invest your money or engage Eric without absolute verification. Failing to do so will likely result in you being scammed.

As things stand now, the Moonlite project has been a disaster for investors. MNL is the worst performing mining token which has fallen from $1.05 to .002 cent. Essentially, the price of MNL has crashed due to the enormous selling pressure of massive amounts of tokens being dumped by Eric. There is no liquidity either which means never being able to sell MNL tokens, or at a huge loss if you buy them.

Even worse, Eric routinely ignores questions from investors in the MNL telegram chat and bans any who ask him legitimate questions. Things have gotten so bad that Eric has closed off the MNL chat due to not being able to handle demands for transparency. This means that no new investors can join the community which effectively chokes off any new external demand.

Lastly, I have attached pictures to prove Eric is scamming as he was caught red handed attempting to dump tokens on an unsuspecting investor. In January, after the CFO resigned, it caused a big controversy in the crypto mining community. It was at that time Eric tried to accelerate his exit by trying to sell tokens to an unsuspecting fund manager for over 1 million USD in tokens at .20 cents when market price per token at that time was only .005 cents. That is 40x the market value. Fortunately, I was able to intercept this fund manager to prevent the transaction. Please refer to attached pictures labeled eric1 - eric9.

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