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Update on Knowledge Investor issues

by Power User Johnny Cash on October 14, 2011

Update on Knowledge Investor issues

 

Did you notice that your balance (and all-time and 30-day earnings) were adjusted?

Here's why:

The big bug that Amit reported was doing this:

For sake of this example, let's say you invested $100, and earned $120 as a result.

(I'm only using those numbers for this example. For your situation, replace $100 and $120 in my example with what your investment and return were).

When your Investment was compete, the system took $100 out of your account, and added $120.

That's all fine.

But here comes the bug:

A day or two later, the system then went ahead and attempted to take $100 out AGAIN (after your portfolio was complete) to do it AGAIN for you.

If you didn't have another $100 (that was matured and ready to invest) it took what you had (and gave you a negative balance, even though all you would see is $0. The system doesn't show negative balances).

(and if you did have $100 in your account that was mature, it took it).

And of course it added $120 as your return -- regardless of whether you had invested anything (depending on whether you had the original $100 matured).

For most of you, you did NOT have the original money again, so you ended up with $0 matured and it added $120 (or whatever you original return was). 

That's why many of you noticed "free money" added to your account.

The Fix:

The team has been working on correcting the issue -- and that's why you are seeing the change in your earnings, balance, and all-time and last 30 day earnings.

Here's how they fixed it:

First of all, the specific bug was found, and fixed. This issue will NOT be happening again to anyone.

But the more difficult and time-consuming part was ensuring that every single one of your accounts was put back to its original state -- as if the bug had not happened.  

Here's how they did that:

Of course they left alone your original (legitimate) investment.

Towards reversing the transaction that should not have occurred:

They put back the $100 into your account (or whatever amount should not have been charged to your account). If your account had gone into the negative (most of your accounts did), this got your balance back to zero or above zero. (Remember, the system stores negative values but does not show you that).

They took back out the $120 return from your bank (or whatever amount should not have been awarded to you as an earning) and they removed that amount from your all-time, last 30 day on the leaderboard.

---------------------

The team has been working throughout the last 2 days and nights to correct this issue - paying very special attention to your account to ensure that what they do to your account is 100% accurate. 

In fact, by now many of you should have received communication from the team by email - detailing exactly what I said here, but with your specific numbers.

I apologize for the inconvenience this has caused, and wish it had not happened. 

 

---------------------

 

Let me know if any of this is unclear or if you have any general questions.

If you have specific questions about your personal account, immediately write back to customer service so they can be aware.

As always, they have your specific numbers (I do not) and so only they can help you (I can not).

Again, I apologize for the issue; I thank Amit again for being so honest and a smart and concerned community member, and I also thank all of you for your patience as we continue to work to perfect the Knowledge Investor product.

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139 Comments

Amit M
Amit M · Become a Fan

Difficult to understand ...

69 months ago
Ophie L
Ophie L · Become a Fan

It's not clear... because from my side, I believe I did not get any "free money". I invested $20 and got a return of 324% in the amount of $65. After the adjustment, today my earnings down to $13 (30 day earnings) and $36 (All-time earnings). My question now, where's the $65 that I earned from investing if my All-time earnings now is only $36, while 30 day earnings only $13???

69 months ago
Nasa نصرالدين Jaafar
Nasa نصرالدين Jaafar · Become a Fan

I am not sure about what had happened. But lately I have not received any email from fanbox or from premium blogs, please anybody tell me why?
ty

69 months ago
***Iftikhar ****
***Iftikhar **** · Become a Fan

I have waited a lot for the new products and even did not sleep properly on that days.I invest $25.00 and got in return $81.75. I was happy to get good earnings but today is not a good day actually because all of our happiness has gone. Our first investment earning is reverse. I did not get any free amount in my account. I invest $25.00 and get in return $81.75. so why this amount is reverse and when this amount will be added in our account ?

69 months ago
* Arlene *
* Arlene * · Become a Fan

Thanks for letting us know about this. I'm always confident you and your team are on top of things.

69 months ago
Johnny Cash
Johnny Cash · Become a Fan

To everyone that has been affected:

Correcting this issue for you -- so you understand exactly what is happening with your bank -- and YOU ARE SATISFIED with the outcome -- is THE most important focus for the FanBox Staff.

Towards that, FanBox has set up a special task force to work with you on a personal basis.

This means that a FanBox employee will be reaching out to you in the next 12 hours - via a FanBox message - and will work with you until you are smiling.

By the way, if anyone asks you for your password or billing information - that is NOT FanBox. (That would be a scam).

DO NOT provide your password to anyone -- even if they claim to be a FanBox employee.

This special task force will NEVER ask you for your password or billing information.

********** FANBOX WILL MAKE THIS RIGHT! **********

Stay tuned for a personal message from a FanBox employee.

69 months ago
Jake Muanpuia
Jake Muanpuia · Become a Fan

I have received message from fanbox, it doesn't even clear also. I invest 235 dollar on that very first day and earned around 775 ie 323%. I am so excited at that time. But today all my money that I assumed I earned from investment were gone totally. They said that my money I have in my bank don't much enough to meet my investment!!!.... and that is why they removed all my earned money on that very day. That means that very special day becomes ZERO day for me. I am a bit annoyed by this thing.

69 months ago
May Ram
May Ram · Become a Fan

I got the message from Fanbox team, and As I always mentioned, that those tiny numbers are crawlling in my head, I do not like it. I trust fanbox team, till I can get an accountant , I leave it to fanbox team. I just write , read, , invest and ad, ( assist too) .

Thank you Jc, being here for us.

69 months ago
Mr & Mrs Jake
Mr & Mrs Jake · Become a Fan

I'll be back later...I have something to clarify on FanBox Bank....because there's strange happened in there..that I need an explanation....because i don't know how it happen....

69 months ago
Mr & Mrs Jake
Mr & Mrs Jake · Become a Fan

ok...here I am...I just checked my fanbox bank...and I have $800...that ready for cash out after 45 days...but why?...I cannot Invest this money..or fund it to my Ads...It's the effect of the Bug?..please JC..I need your advise...waiting for reply soonest!///thanks..

69 months ago
Mr & Mrs Jake
Mr & Mrs Jake · Become a Fan

Hello Margaret,

It's done my dear...I already post it...if you have any Idea about these please help me too....and I wish to read J C's reply for my query....I am so happy to be here as a member of the FanBox Family!..

"GOD BLESS TO ALL!!!!! :)

69 months ago
Johnny Cash
Johnny Cash · Become a Fan

@Margaret: Thanks for your efforts to moderate my post as well as remind me of what fanbox does and does not wish. While the intent is appreciated, I think I'm OK for now.

@everyone else: I'll repeat, because some people are having some difficulty understanding me, apparently: Someone from fanbox will reach out to you in the coming hours if your account was affected.

That means that you do not need to leave comments here or anywhere else if you want to understand or fix your issue. You just need to check your inbox.

69 months ago