Garza has a controlling interest in mining companies in GAW Bitcoin Miners, along with many Ventura altcoin. Paybase started having problems trading in January when the Securities Exchange Commission (SEC) began an investigation. This led to accusations that Paybase and GAW Miners who run "fraud in the sale of securities" in connection with the sale of digital currency Paycoin them. Like many altcoins, users can buy Paycoin with Bitcoin exchange, and Paybase handle the transaction on the stock exchange.
Paybase have dim past on withdrawals (withdrawal). All withdrawals delay of February 27, 2015 until March 8, 2015, in which they claim they are victims of "a coordinated effort and very sophisticated to exploit the database for PayBase and (service related) ZenCloud.
Threads on Twitter and Reddit for several days showed a lot of people can not withdraw funds from the site.
"The withdrawal has been suspended for
7 days, GAW refused to answer why and when they will resume. Josh Garza refused to answer questions, the thread can be closed in talks support the hash, and if you tweet him, he will block your account. I can not draw Bitcoins and they have been stuck in PayBase for a week. "The word Contractmine Reddit Sunday night.
Josh Garza has become a lightning rod for negative press and allegations for more than a year, with the introduction of Paycoin. It must be guaranteed $ 20 per coin by Paybase, but the decline is not stopped Paycoin price dip in the market, and Paybase reneged on his promise. Paycoin currently trading at $ 0.647.
Garza also has been caught lying about having a business relationship developing with Amazon to receive Paycoin in the future. Amazon deny Paycoin or have a relationship or business talks. Garza almost barred Bitcoin Conference of North America, accused of being a scam artist. More recently, Coinfire also create a cadre of public issue of Garza and the company.
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