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Post by spaaps on Dec 17, 2019 8:14:14 GMT
Now I have problem withdrawing money from Envestio. It wants verificaton documents again. I emailed them, but anyone have the same problem?
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benaj
Member of DD Central
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Post by benaj on Dec 17, 2019 8:37:40 GMT
Now I have problem withdrawing money from Envestio. It wants verificaton documents again. I emailed them, but anyone have the same problem? Nope.
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Post by spaaps on Dec 18, 2019 16:02:22 GMT
works now after I sent them a message.
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benaj
Member of DD Central
Posts: 4,367
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Post by benaj on Dec 19, 2019 18:12:00 GMT
Current withdrawal time: 1 working day
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Post by southseacompany on Jan 16, 2020 15:00:12 GMT
Recently there's been a lot of talk about possible shenanigans involving Envestio, and anyone can see its effect by looking at the available loans on the platform. I've been tracking the loans on offer for just a handful of days. While the total amount available hasn't changed much (it has stayed in the 750k-800k range for a while, until today anyway, including both new loans still open for investment and old ones), there's actually a lot of churn under the surface. I compare the open amounts for each project each day. Any increase in the available amount represents loans someone has sold back to the company, while a decrease must mean loans bought by other investors.
My method disregards loans sold and bought in the same day, which is likely a significant amount. Even so, I get daily churn values of 50k-100k on most days. Envestio is likely collecting at least 5k in early redemption fees per day. They have under 300k in float stuck in loans put back to them by investors, so they're generating well over 1% yield per day on this amount. It seems they are able to turn over the loans pretty quickly.
Of course, a crisis of confidence could develop quickly. Still, it seems that for now, not only has Envestio withstood the selling pressure, it has somewhat benefited from it.
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Post by easypeak on Jan 21, 2020 17:30:28 GMT
Seems like their website is down...
Or is it just me?
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benaj
Member of DD Central
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Post by benaj on Jan 21, 2020 19:32:12 GMT
The site is currently having a 404. Let's hope it will be up and running soon.
According to the Envestio's Investment and Development Advisor' latest post (21-Jan-2020) on Linkedin:-
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Post by jmot on Jan 21, 2020 21:30:50 GMT
Seems like their website is down... Or is it just me? Still down and the BS published in their blog. I do not believe in conspiracy theories, so I do not believe in what they are saying at all. I do not want to make deeper assumptions, but their organization and management is/was a mess.
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r00lish67
Member of DD Central
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Post by r00lish67 on Jan 21, 2020 22:16:37 GMT
I've read various allegations re: Envestio recently (mainly just whilst reading about the ongoing fate of Kuetzal) Easily google-able if you desire. They don't make for good reading.
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benaj
Member of DD Central
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Post by benaj on Jan 21, 2020 22:35:29 GMT
I've read various allegations re: Envestio recently (mainly just whilst reading about the ongoing fate of Kuetzal) Easily google-able if you desire. If true, they don't make for good reading. Welcome to the age of information war. That's so many different stuffs online. Here's what I found online from one of the comment But, the link is still ALIVE! The trustpilot review becomes another battlefield, full of non-verified reviews for 5* and 1*.
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r00lish67
Member of DD Central
Posts: 2,691
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Post by r00lish67 on Jan 21, 2020 22:58:35 GMT
I've read various allegations re: Envestio recently (mainly just whilst reading about the ongoing fate of Kuetzal) Easily google-able if you desire. If true, they don't make for good reading. Welcome to the age of information war. That's so many different stuffs online. Here's what I found online from one of the comment But, the link is still ALIVE! The trustpilot review becomes another battlefield, full of non-verified reviews for 5* and 1*. Bit of a one-sided information war at present with a 404 error instead of a website at envestio.com for the past 8+ hours. Hope it comes back to life soon.
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Post by southseacompany on Jan 22, 2020 6:14:36 GMT
Their main site is hosted at Azure and is offline, but the blog, hosted with a different company (Host Europe GmbH), is online. Does anyone know if they were always like that, or did one of these get moved to different hosting recently? |
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r00lish67
Member of DD Central
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Post by r00lish67 on Jan 22, 2020 8:59:46 GMT
Their main site is hosted at Azure and is offline, but the blog, hosted with a different company (Host Europe GmbH), is online. Does anyone know if they were always like that, or did one of these get moved to different hosting recently? No idea. The fact that Envestio aren't engaging at all on other channels doesn't bode well. It also seems a tad coincidental that they were subject to a hacker attack at the same time as a liquidity run. They also don't actually state what they're going to do about it in their post, no timescales, just general accusations to those who would wish them harm. Finally, a 404 in particular is not a great sign. That's more 'there's nothing here' than 'we have problems'.
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Post by southseacompany on Jan 22, 2020 10:08:45 GMT
I had assumed Envestio is risky due to the inherently high risk projects and the duration mismatch between long-term loans and immediate buyback guarantee, but they could have addressed that by suspending the buyback guarantee. However, the way they are acting now makes it look rather like a Ponzi scheme.
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benaj
Member of DD Central
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Post by benaj on Jan 22, 2020 11:40:41 GMT
Is it just me? even one of the P2P lending blogger page is current down. 500 error. This is getting weird.
UPDATE: the blogger's server appears to be up and running now.
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