Kinguin.net and severe payout issues, stay away!
This post is being updated as more issues arrise with Kinguin, you can check more horror stories at the bottom of the article.
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So, my name is Yevgeny, i am the owner and founder of U.G.K. GAMES LTD and the website gamingdragons.com, gamers-shop.dk and gamingdragons.co.il.
I have sold a few games on Kinguin under the alias GMD_GAMES during the year 2019, currently Kinguin owes me two payouts of 8,000 Euro and there is a 1326.31 Euro in eurBalance.
eurBalance is like credit on their website that can be used to buy items, which they have currently disabled and no longer being able to use eurBalance on their website, so its basically locked funds on their store with no ability to cash out on overpriced items or withdrawing as they do not pay.
We are currently waiting for over 6 months already.
There is a 60 days waiting time since a sale has been established on their platform until you are able to request a withdrawal, that has long passed and now they do not process any payouts for over a month, we’re at 2020-05-25.
Here is a screenshot of our account:
So i was wondering why they do not pay…
To answer my questions, I contacted a lot of people, I was told that they had laid off 50+ people in Bulgaria offices(many of them were people I worked with) and they told me that the company has no more money and that the “ceo” was a madman who had invested the money and had lost the money, and that he allegedly had bought jewelry and other luxuries for his wife in London. So in summary, he allegedly invested the sellers’ money in his second company (because he has a second company “romanuk investment” https://rejstrik-firem.kurzy.cz/05250463/romaniuk-investments-se/ ) and that he lost the money as a result. So allegedly totally illegal.
He has also invested into an Esports center “hotel” and Jewlery stores in London, allegedly he also invested into his wife's fashion career.
I am not the only one they owe money to, you can check out sellers discord over here https://discord.gg/cAarBjn
In the midst of things, they have contacted me with a bogus offer that can be viewed as a blackmail to turn me into a slave of their platform and restore sales so they could profit and there was no mention about when the debt they owe me is going to be paid except a measly 2,000 Euro from my own money.
Here is the email:
The “ceo” is now trying to recruit an investor for their in debt company, i wonder who is going to be deranged enough to invest in a company that is ran by an irresponsible person who has allegedly used sellers funds to invest into personal gains and ventures, Mr. wanli and his wife seem to be unaffected by the financial state of Kinguin.
Who are these Mr and Miss wanli that i am referring to, well here they are: