Payout Schedule Update

Category / Press releases / Mining Published on

We are sorry for the delayed payouts that you experienced in the last two weeks. The reason is that we were required to rebuild our server infrastructure after a security breach that happened two weeks ago. The mining operation itself is not (and never was) affected by this. That said, we are conducting another bulk payment today (7th of August), covering all three previous mining days (4th, 5th & 6th of August). They should pop up in your wallet shortly.

 
Furthermore, until all website issues and the payout backlog problems are solved, we will temporarily switch to a new payout schedule: Instead of paying out daily, we will payout all funds every two days – so the next payout is scheduled for the 9th of August, covering the payouts of 7th and 8th of August. This is only a measure to take pressure off the daily routine until we are sure that our infrastructure is again capable of performing without problems; we will then return to daily payouts as soon as possible.

Please check our twitter feed for more updates.

 

If you have questions and issues with our service and have not received an answer to your case yet, we have prepared answers on the most frequent issues:

 

Q: What’s the general issue for the payout delays?
We’ve experienced a security breach shortly before the Bitcoin Cash fork and were forced to revise and restore our complete security infrastructure – This resulted in temporary breaks of daily payouts and we’re still in the process of paying out all delayed funds.

 

Q: I haven’t received a payout yet?
This might have different reasons and we’d like you to check if one of these possible situations apply to you:

 

a) Minimum payout threshold for a mining balance is not reached
The current minimum payout thresholds are as following and will only processed if the accumulated balance is larger than: BTC 0.0015 (150 000 satoshis); BTCD 0.001; CURE 0.2 ; DOGE 50 ; DASH 0.001; ETH 0.05; ETC 0.15; REP 0.1; LTC 0.001; NMC 1; PPC 0.01; START 0.1 ; UNO 0.001; XMR 0.4; ZEC 0.00005; ZET 1

 

b) Ordered via credit card
When you order via debit/credit card, your payouts will be held for a 30+2 days as stated in the Terms of the Contract. We do so because of fraud and security reasons. Once the month has passed, the full amount will be released to your wallet, and from then on you will receive a daily payout. In the meantime you can see your accumulated earnings in My Account > My Orders, under “My pending balance of payouts”.
 

If none of these solutions apply to you and you opened a ticket, we will take a look at your account as soon as we can and provide assistance.
 

We have been providing daily cryptocurrency payouts for more than three years now and treat these payouts as a promised and due service for our customers. Your trust and confidence in Genesis Mining is of the utmost importance to us and we understand the frustration with not receiving those payouts. This is why our team is working around the clock to resolve these issues and restore payouts, while ensuring similar unfortunate disruptions will not happen again.
 

Every person who mines with us helps make what we do possible and we appreciate your patience with us as we work to ensure security whilst disbursing you your hard earned coins.
Sincerely yours,

Marco Streng
CEO Genesis Mining

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