Paybase will be closing permanently on 30 April 2015. Investors are urged to withdraw balances straightaway.

Users of Paybase were notified this week with this message when logging in:


Paybase has been the subject of controversy for months with investors reporting being unable to withdraw funds for extended periods and, of course, the SEC investigation of Homero ‘Josh’ Garza, Paybase, GAW Miners, Paycoin LLC, and ZenMiner as reported by Motherboard.

Mr. Garza had this to say concerning the closure of Paybase on the Hashtalk forum:

Garza comments on Paybase closing

Mr. Garza has built the Mineral bitcoin exchange as a replacement for Paybase. Advertised as “the fastest growing bitcoin exchange on the planet” the 24 hour volume on 6 April for XPY/BTC was only 3.26 bitcoin. We suspect there is a bit of a trust issue with the new exchange.

What do you think of Mineral and Paycoin? Have you lost confidence or are you still holding Paycoin?